An Introduction to Letters of Credit phần 6 ppsx

... of conveyance to another means of conveyance, in different modes of trans- port, during the course of carriage from the place of ship- ment to the place of destination stipulated in the Credit. d ... Claiming Bank to supply a certificate of compliance with the terms and conditions of the Credit to the Reimbursing Bank. c An Issuing Bank shall not be relieved from...

Ngày tải lên: 10/08/2014, 07:21

... Letters of Credit 31 Transferable and Back -to- Back Letters of Credit 31 Transferable Letters of Credit 31 Back -to- Back Letters of Credit 34 Assignment of Proceeds 35 Simplified Letters of Credit ... Currency Letters of Credit 24 Chapter 5 Letters of Credit – Special Types 29 Revolving Letters of Credit 30 Installment Letters of Credit...

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... R 6 LETTERS OF CREDIT Export Credit Agencies and International Development Banks Many government agencies provide financial assistance in the form of grants, loans, subsi- dies and guarantees to ... identity of one party from another, a Transferable Letter of Credit or a Back- to- Back Letter of Credit may permit the transaction to go forward. Transferable Letters...

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... in any commercial or financial transac- tion. With a Standby Letter of Credit, the Issuing Bank substitutes its creditworthiness for that of its customer, the Applicant. The Standby Letter of Credit ... CREDIT Standby The banking industry has found it useful to distinguish between Commercial Letters of Credit, used to pay the purchase price for the shipment of goods, an...

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... 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’s customer wants to retain ... consent to the cancellation of a Revocable Letter of Credit is not required. 56 Examples of Typical Standby Letters of Credit The terms and conditi...

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... CONSIDERATIONS The application and issuance of the credit 1. The terms of a credit are independent of the underlying transaction even if a credit expressly refers to that transac- tion. To avoid unnecessary ... arbitra- tion, an appointing authority for he arbitral tribunal, and an administrator for any challenges to the appointment of an arbitrator. How is the arbit...

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... board”. Ports of loading and ports of discharge 1 06. If a credit gives a geographical area or range of ports of loading and/or discharge (e.g., “Any European Port”), the charter party bill of lading ... the transport docu- ment. However, if a credit requires a transport document to be issued to order”, to the order of shipper”, to order of the issuing bank”, or “consig...

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... and Interpretation of These Rules 1.01 Scope and Application a. These Rules are intended to be applied to standby letters of credit (including performance, financial, and direct pay standby letters ... Customs and Practice for Documentary Credits (UCP) and the Uniform Rules for Demand Guarantees (URDG) do for commercial letters of credit and independent bank guarantees. Th...

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... mode of transportation. Transferring Bank - A bank authorized by the Issuing Bank by nomination in the Letter of Credit to effect a transfer 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 an...

Ngày tải lên: 10/08/2014, 07:21