An Introduction to Letters of Credit phần 1 ppsx

... Letters of Credit 31 Transferable and Back -to- Back Letters of Credit 31 Transferable Letters of Credit 31 Back -to- Back Letters of Credit 34Assignment of Proceeds 35Simplified Letters of Credit ... 47Standby Letters of Credit 15 . Application and Agreement for Irrevocable Standby Letter of Credit 51 16. Standby Letter of Credit – In Lieu of a Contract Performance Guarantee 52 17 . Standby ... Transferred 33Banker’s Acceptance Financing 12 . Export Letter of Credit – Acceptance Financing 45 13 . Export Letter of Credit – Banker’s Acceptance 46 14 . Import Letter of Credit – Acceptance Financing...

An Introduction to Letters of Credit phần 6 ppsx

... the 1st to the 10 th, the 11 th to the 20th, and the 21st to the last day of such month, alldates inclusive.F. TRANSFERABLE CREDIT Article 48Transferable Credit a A transferable Credit is a Credit ... Documentary Credits (including standby letters of credit) . Below are the different possible casesand the relevant rules of interpretation:2 .1. 1 Documentary credits issued and payable before 1 Janu-ary ... STAND-BY LETTERS OF CREDIT Commission on Banking Technique and Practice, 21 June 19 99On the unanimous consent of its Commission on BankingTechnique and Practice, the International Chamber of...

An Introduction to Letters of Credit phần 3 pps

... identity of one partyfrom another, a Transferable Letter of Credit or a Back- to- Back Letter of Credit may permit the transaction to goforward.Transferable Letters of Credit – When a Letter of Credit issued ... providefinancial assistance in the form of grants, loans,subsidies and guarantees. Grants, loans and subsidiesare forms of direct agency assistance. Guarantees are aform of indirect assistance ... source of payment to the issuer of the second Letter of Credit. The two Letters of Credit used to facilitate the purchaseand resale of the same goods are called Back -to- Back Letters of Credit. Coordinating...

An Introduction to Letters of Credit phần 4 pdf

... Beneficiary.Standby letters of credit are also frequently used to effect direct payment to the beneficiary. An example of the face of an Application form for a Standby Letter of Credit is shown on page 51 ... in any commercial or financial transac-tion. With a Standby Letter of Credit, the Issuing Banksubstitutes its creditworthiness for that of its customer,the Applicant. The Standby Letter of Credit ... CREDIT StandbyThe banking industry has found it useful to distinguish between Commercial Letters of Credit, used to pay the purchase price for the shipment of goods, and Standby Letters of Credit, ...

An Introduction to Letters of Credit phần 5 pptx

... StandbyLetter of Credit. A Standby Letter of Credit issuedin favor of a surety company is shown on page 57,Illustration 20.Standby Letters of Credit as a Payment MechanismStandby Letters of Credit ... BondsStandby Letters of Credit are used to enhance the credit rating of municipal and other bonds and notes and maybe structured as either a guarantee type or payment typeStandby Letter of Credit. ... obligations of a reinsurer to an insurer.Revocable Letters of Credit Most Standby Letters of Credit are issued in irrevo-cable form. However, there are instances where the bank’scustomer wants to retain...

An Introduction to Letters of Credit phần 7 pptx

... $50,000) (of amount over $50,000) $10 0,0 01 - $500,000 $4,375 + 2.00% $13 ,12 5 + 5.00% (of amount over $10 0,000) (of amount over $10 0,000)$500,0 01 - $1, 000,000 $12 ,375 + 1. 25% $33 ,12 5 + 3.75% (of amount ... Nations’exchange rate prevailing on the date of submission of theNotice of Arbitration.Amount of Claim Administrative FeeUp to $10 0,000 $1, 500 $10 0,0 01 - $500,000 $1, 500 + 1. 25%$500,0 01 - $1, 000,000 ... under reference TA .11 1).Question 2The inclusion in an L/C of a term such as “Insurance for 11 0%invoice value” is a bank’s way of trying to mirror the UCPrequirement of 11 0%. However, it has...

An Introduction to Letters of Credit phần 8 docx

... calculation of the period. 19 . Dates may be expressed in different formats, e.g., the 12 th of November 2003 could be expressed as 12 Nov 03, 12 Nov03, 12 .11 .2003, 12 .11 .03, 2003 .11 .12 , 11 .12 .03, 12 110 3, ... one mode of transport, but it may besilent regarding the modes of transport utilized. 11 2ii. currency and amount;iii. additional amounts payable and tolerance, if any;iv. Claiming Bank or, ... the transport docu-ment.However, if a credit requires a transport document to beissued to order”, to the order of shipper”, to order of the issuing bank”, or “consigned to the issuing bank”,...

An Introduction to Letters of Credit phần 9 docx

... and Interpretation of These Rules 1. 01 Scope and Applicationa. These Rules are intended to be applied to standby letters of credit (including performance, financial, and direct paystandby letters ... in blank and, in any event, 11 6 10 . Method of payment and form of payment advice. 11 . Instructions in case of non-payment, non-acceptanceand/or non-compliance with other instructions.c. 1. Collection ... 4 .11 “Original” - Rule 4 .15 (b) & (c)“Partial Drawing” - Rule 3.08(a)“Standby” - Rule 1. 01( d)“Transfer” - Rule 6. 01 “Transferee Beneficiary” - Rule 1. 11( c)(ii)“Transfer by Operation of...

An Introduction to Letters of Credit phần 10 docx

... mode of transportation.Transferring Bank - A bank authorized by the IssuingBank by nomination in the Letter of Credit to effect atransfer of the Issuing Bank’s Letter of Credit. Underlying Transaction ... evidenc-ing shipment of merchandise and often is used in lieu of bid bonds, performance bonds or payment guarantees to secure a transaction or the performance of anotherparty.Letter of Credit, Straight ... forwarder.Amendment - Any change to the terms and conditions of a Letter of Credit. Applicant - The party that arranges for a Letter of Credit to be issued, typically the buyer in a commercial trans-action...

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