 |
 |
 |  |
Letters of credit, letter of credit particulars, credit, LC, L/C, commercial letter of credit, irrevocable letter of credit, confirmed letters of credit, revocable letters of credit, restricted negotiable letter of credit, L/C amendments. freely negotiable letter of credit, confirmed irrevocable letter of credit, unconfirmed irrevocable letter of credit, revolving letter of credit, SWIFT, drafts, banks, issuing banks, confirming banks, nominated banks, bill of exchange, exporters, importers, exporting, importing. import permit, foreign exchange reserves, chain stores, currency, devalue, devaluation, currency devaluation, mergers, cable L/C, partial text cable LC, full text cable LC, airmail LC, airmail L/C, short cable LC, partial text cable L/C, operative credits, SWIFT message. letters of credit amendments, transferable letter of credit, latest negotiation date, transport documents, L/C expiry date, draft, ports of origin, ports of destination, latest shipment, latest date of shipment, last date for shipment, transhipment, transshipment, partial shipments. exportation, importation, export, import, service exporters, export trader, export trade portal, export trading, exporters association, export manufacturer, export marketing, exporters guides. export directory, manufacturing exporters, Taiwan exporters, Taiwan importers, Hong Kong exporters, Hong Kong importers, trade shows, trade fairs. China exporters, China importers, export manufacturing, export consulting, export trade leads, import trade leads, international business, trade exhibitions. letter of credit, insurance, trader, trading, exportacion, importacion, internet advertising, online advertisement, e-commerce, electronic commerce. logistics, transportation, transports, cargo insurance, ocean shipping company, courier, airline, customs broker.
Letter of Credit Particulars
- Latest Negotiation Date
- The latest negotiation date is the last day of the period of time allowed by the letter of credit (L/C) for the presentation of documents and/or draft(s) to the bank. The latest negotiation date is not necessarily the L/C expiry date. In the sample letter of credit the latest negotiation date can be
March 26, 2001 or 15 days after the date of shipment, whichever comes first.In case the L/C does not stipulate the latest negotiation, it is within 21 days after the date of issuance of the transport documents, but on or before the L/C expiry date.
- Expiry Date and Place
- Latest Shipment
- The latest shipment---latest date of shipment or last date for
shipment ---is the last day of the period of time allowed by the letter of credit (L/C) for shipment, dispatch or taking in charge. In the sample letter of credit the latest shipment date isMarch 19, 2001 . - Port or Point of Origin
and Port or Point of Destination - Other L/C Particulars
- Confirmed
(please see Confirmed Irrevocable versus Unconfirmed Irrevocable Letters of Credit)
- Irrevocable
(please see Irrevocable versus Revocable Letters of Credit)
- Transferable
(please see Transferable versus Non-transferable Letters of Credit)
- Paying, Accepting or Negotiating Bank
- Partial Shipment
- Transhipment
- Freight Prepaid
(please see Freight Payment---Freight Prepaid and Freight Collect)
In the sample letter of credit the origin is Moonbeam Port,
In practice, the letter of credit (L/C) often indicates an incorrect port or point of origin in the triangle trade. For example in the triangle trade presentation, the flow chart shows that the third party ships the goods directly to the buyer. It is incorrect if the buyer stipulates in the L/C "shipment from Osaka to New York" or "shipment from Shenzhen to New York". Shenzhen is located inland. Export goods from Shenzhen usually are dispatched from Hong Kong. In such case, the correct stipulation would be "shipment from Hong Kong to New York". To avoid mistake and save the time and cost of a letter of credit amendment, it is important to indicate in the Sales Confirmation (Pro Forma Invoice) the correct port or point of origin and port or point of destination.
Copyright © EXPORT911 www.export911.com All rights reserved PL-02-059 |