//Copyright-Author: Morris Ng

function fnBIowDrawnOnAtUnder(){
document.writeln("<dd>The <b>expiry date and place</b> is the last day of validity of the credit and the place allowed by the letter of credit \(L/C\) for the presentation of documents and/or draft\(s\) for payment, acceptance or negotiation. In the sample <a href=\"docLC.htm\" class=xTx>letter of credit</a> the expiry date is <nobr><b>March 26, 2001</b></nobr> and the place for presentation of document is <b>Export-City</b>, which is the beneficiary's city.")
document.writeln("<p id=inde>In case the validity of an L/C is stated in a period of time, for example \"<font color=purple>this credit is valid for three months</font>\" or \"<font color=purple>this credit is available for two months</font>\" or \"<font color=purple>this credit is good for one month</font>\", but does not specify the date from which the time is to run, its validity starts from the issuance date of L/C by the issuing bank. The bank normally discourages stating the L/C validity in a period of time.</p>")
document.writeln("<p id=inde>In case the expiry date and/or the latest negotiation date falls on a day on which the bank is closed for reasons not including the acts of God, strikes, riots, civil commotions, lockouts, insurrections, wars or any other causes beyond the bank's control, the expiry date and/or the latest negotiation date is extended to the succeeding first day on which the bank is opened. Such extension, however, does not extend the latest date of shipment.</p></dd><br><br><br>")

document.writeln("<dt><b>Draft\(s\) Drawn On</b></dt><br><br><dd>The <b>draft\(s\) drawn on</b> answers the question \"Which bank or who is the drawee \(the payer\) of the draft?\" The draft is most often drawn on the confirming bank or the issuing bank. In some cases, the draft is drawn on the applicant. In the sample <a href=\"docLC.htm\" class=xTx>letter of credit</a> the draft is drawn on the confirming bank, which is <b>The Moon Bank</b>.</dd><br><br><br><br><br>")
document.writeln("<dt><b>Draft\(s\) Drawn At</b></dt><br><br><dd>The <b>draft\(s\) drawn at</b> answers the question \"The draft is drawn at what terms?\" It can be a <a href=\"bill.htm#xSight\" class=xTx>sight draft</a> \(i.e., payment on demand or on presentation\) or a <a href=\"bill.htm#xTerm\" class=xTx>term draft</a> \(i.e., payment at a fixed or determinable future time\). In the sample <a href=\"docLC.htm\" class=xTx>letter of credit</a> the draft is drawn <b>at sight</b>.</dd><br><br><br><br><br>")
document.writeln("<dt><b>Draft\(s\) Drawn Under</b></dt><br><br><dd>The <b>draft\(s\) drawn under</b> answers the question \"The  draft is drawn under which credit and the credit is of which bank?\" In the sample <a href=\"docLC.htm\" class=xTx>letter of credit</a>, the L/C requires that the draft\(s\) be marked \"<font color=purple>Drawn under documentary credit <nobr>No. SB-87654</nobr> of The Sun Bank, Sunlight City, <nobr>Import-Country</nobr>, dated <nobr>January 26, 2001</nobr></font>\" \(please see the completed sample <a href=\"bill.htm#docDraft\" class=xTx>draft</a>\).</dd><br><br><br><br><br>")}

function fnBIowP0RTorigiDESTlN(){
document.writeln("<dd>The <b>port or point of origin</b> is the port or place of loading, dispatch or taking in charge. The <b>port or point of destination</b> is the port or place of discharge or delivery. Some of the expressions that may appear in the letter of credit \(L/C\) indicating the origin and the destination are:<br><br><br>")
document.writeln("<p id=inde><dl><dd><ul type=square><li>\"shipment from ... to ...\"<li>\"dispatch from ... to ...\"<li>\"carriage from ... to ...\"<li>\"delivery from ... to ...\"<li>\"forward from ... to ...\"<li>\"taken in charge at ... for transportation to ...\"</ul></dd></dl>")}