Additional Conditions. 1. Shipping documents must evidence shipment according to the terms of L/C 2. Stale, Claused, Blank Back Bill of Lading not acceptable. Bill of Lading prior to the date of this L/C not accepted. Shipment/Transshipment on Israeli Flag, Vessel not allowed. 3. Goods are imported under L/C Number GM/0299/1355/07 H.S. Code Number 0801.1990 which should appear on Bill of Lading, Invoices, Packing List and Certificate of Origin. WE HEREBY ENGAGE WITH THE DRAWER AND / OR BONAFIDE HOLDER THAT DRAFT DRAWN AND NEGOTIATED IN CONFORMITY WITH TERMS OF THIS CREDIT WILL BE DULY HONOURED. CHARGES. All charges outside Pakistan i.e. Advising, Negotiating are on account of beneficiary. REIMBURSEMENT INSTRUCTIONS. We authorize you to debit our Nostro Account being maintained with you, if all the terms and conditions of this letter of credit have been complied, and you would certify it on the covering schedule of documents to be sent by you.
DOCUMENTS IN INTERNATIONAL TRADE
financial documents Transport documents. Commercial documents.
Bill of exchange. Both sight and usance.
Bill of lading. Airway bill / air consignment note. Railway receipt. Truck receipt. Post parcel receipt
Commercial invoice. Weight / packing list. Inspection certificate. insurance policy Insurance cover note. Certificate of origin.
TYPES OF L/C
Revocable. Irrevocable. irrevocable confirmed
TYPES OF L/C
Red claused. Green claused.
It can be cancelled any time by any party just by information or not implementing on expiry. this letter of credit is practically not operative
It cannot be cancelled unless all the parties involved in letter of credit agree to it. All parties means: - opener, opening bank, advising bank, negotiating bank and beneficiary.
This letter of credit must be confirmed by any bank at the choice of beneficiary, it should be a negotiation bank. This confirmation further provides guarantee to seller about getting the value of goods
Through this letter of credit, opening bank requests the advising/negotiation bank to provide funds to the beneficiary in advance. This amount is adjusted at the time of negotiation.
Through this letter of...