国际结算双语 LC Practice

1、Chapter 8 L/C PracticeSecurity arrangementApply; clear,correct,precise,free from toomuch details& tech. terms.ApplicantIssuing BankMargins &Service feesMargins: As deposits that are for LC payments & put in special a/c which can not be used for other purpose, a tie-up of buyers capital m

2、eans squeezing buyers working capital.Line of credit: Issuing Bank can provide finance for the whole or part of margins, provided applicant is issuing banks client with account in the bank.Third party guarantee acceptable to Issuing Bank can also be used to open LC, in which applicantmust retire doc

3、uments at Issuing Bank when documents arrive at Issuing Bank.Review DC applicationApply; clear,correct,precise,free from toomuch details& tech. terms.ApplicantIssuing BankIssuing Bank must review application on the following points:1. whether they comply with the policies of the bank , with the

4、legal requirements or regulations of the country, i.e.the nature of goods or type of under- lying transaction, e.g.armaments / explosives,etc.2. if every detail is correctly completed.3. Whether applicants instructions are acceptable or whether the bank is authorized to choose its own correspondent

5、for advising the credit. 4. whether documents be issued by 3rd parties instead of beneficiary(soft clause), whether there are non-documentary conditions. Example of non-documentarized terms and conditionsCommodity must be made in Germany without asking for Certificate of origin.The age of carrying v

6、essel at the date of loading is no more than 15 operating years, without asking for the Certificate to this effect is not required.Beneficiary must immediately advise applicant of details of shipment after loading on board, without ask for the notice.Shipment is to be made by a vessel of U.K. nation

7、ality or by a vessel flying her flag, without asking for a certificate to this effect.All the terms and conditions in LC must be documentarized, otherwisebanks would disregard them when banks examine documents.Documents must be available for exporter, otherwise, the LC can not be performed.Credit av

8、ailable with Nominated Bank:CITI Bank, New York 指定银行指定银行by payment at sight 即期付款信用证即期付款信用证by deferred payment at (期限）延期付款信用证期限）延期付款信用证 by acceptance of drafts at (期限）承兑信用证期限）承兑信用证 by negotiation (即期或远期）议付信用证即期或远期）议付信用证Against the documents detailed hereinand Beneficiarys draft(s) drawn on National B

9、ank of Paris 是否要汇票，开给谁是否要汇票，开给谁Partial shipment: allowed not allowedTransshipments:allowed not allowedConfirmation: Requested not RequestedInsurance covered by buyersShipment as defined in UCP500 Article 46根据根据UCP500第第46条款解释的装运条款解释的装运From: New York, N,Y 装运港装运港For Transportation to: Paris 卸货港卸货港Not L

10、ater than: May 15, 2002 最迟装运日（提最迟装运日（提单日）单日）Beneficiary: EXXON Inc. 17 Main Street, New York, N.Y 受益人受益人Amount: USD100,000 One Hundred Thousand U.S.dollars 金额金额Applicant:申请人申请人ANTOIR E/I CORPORATION,89, Rue de Commerce, ParisAdvising Bank: CITI Bank, New York通知行通知行456 Commerce Avenue, New York, N.YE

11、xpiry Date & Place for Presentation of Documents Expiry date: May 29, 2002 到期日之前交单到期日之前交单Place for Presentation: CITI Bank, New York 交单地点（单据交给指定银行）交单地点（单据交给指定银行）Place and Date of Issue：Paris, 1 January, 2002 开证日期（单据日开证日期（单据日期不得在此之前，否则就是期不得在此之前，否则就是ante dated docs.）Irrevocable Number 12345编号编号Doc

12、umentary Credit不可撤消跟单信用证不可撤消跟单信用证Name of Issuing Bank: 开证行开证行National Bank of Paris5th,rue Francois ler 85008 Paris, FranceCompletion of the standard documentary issuance form (1)Document to be presented (要求提交的单据）要求提交的单据）Commercial Invoice, One original and 3 copies 商业发票，商业发票，1份正本和份正本和3份副本份副本Multimo

13、dal transport Document issued to the order of the ANTOIR E/I CORPORATION marked Freight Prepaid and Notify XYZ Custom House Broker Inc.多式运输单据，收货人按多式运输单据，收货人按ANTOIR E/I CORPORATION指令，注明运费预付，被通知人是指令，注明运费预付，被通知人是XYZ报关行（运输单据上的一栏是报关行（运输单据上的一栏是“被通知人被通知人”，由港口当局通知），由港口当局通知）。Insurance certificate covering th

14、e Institute Cargo clauses and the Institute War and Strike Clauses for 110% of the invoice value endorsed to ANTOIR E/I CORPORATION.保险凭证，投保英国伦敦协会货物条款（不是人保条款）和协会战争、罢工条款，承保保险凭证，投保英国伦敦协会货物条款（不是人保条款）和协会战争、罢工条款，承保金额是发票金额的金额是发票金额的110%，（保险凭证）背书给，（保险凭证）背书给ANTOIR E/I CORPORATION。Certificate of Origin evidenc

15、ing goods to be of U.S.A.origin产地证书，证明美国产产地证书，证明美国产（没有注明几份正本时，至少有一份正本）。（没有注明几份正本时，至少有一份正本）。Packing List 装箱单（没有说明内容时，可以是任何内容，只要不与其它单据内容抵装箱单（没有说明内容时，可以是任何内容，只要不与其它单据内容抵触）。触）。Covering: Machinery and spare parts as per pro-forma invoice number 657Dated December 17, 2002-CIP INCOTERMS 2000涉及货物：机械和零配件，按照日

16、期为涉及货物：机械和零配件，按照日期为2002年年12月月17日的编号为日的编号为657形式发票。形式发票。CIP INCOTERMS 2000（商品名称）（商品名称）接上页接上页General Principle (1)Banks pay against compliant documentsDocuments must comply with: 1. the terms & conditions of LC2. each other (among documents)Who decides whether documents comply with LC?Bankers !Impo

17、rter ApplicantpayExporterBeneficiaryPayNominatedBankReimburse = pay without recourseIssuingBankGeneral Principle (2)What do banks do when examining documents ?Nominated BankConfirming BankIssuing Bank1. Read the LC carefully !2. Examine documents against LC point by point. LC DraftCommercial invoice

18、Packing listCertificate of OriginInspection CertificateInsurance PolicyBill of ladingOther documents3. Examine other documents against invoice.4. Examine documents against each other. 5. Make careful notes while examining.Some important principles to keep in mind when examining documentsDocs.Nominat

19、ed bankForward documentsIssuing BankImporter Applicant Docs.B/LExporterBeneficiaryDeliver goodsCarrierB/LDeliver goods1. Banker deals only with documents, not in a position to verify authenticity of commodity.5. Bank abides by the strict compliance of documents withwith L/C.It is me who decides whet

20、her documents comply with LC !3. Bank is not liable for the authenticity, contents or validityof of documents, (which are commercial practice). Fraudulent documentsIts none of my business. It looks real！4. Bank is not liable for the act of third parties in L/C operations.Liable for itsown negligence

21、？Accepting / Paying / Reimbursing by Issuing Bank (1)When reviewing documents forwarded from nominated bank, Issuing Bank must pay attention to the followings:(1) Documents must appear on the face to be in compliance with the terms and conditions of LCDocuments must appear on the face to be in compl

22、iance with one another.(2) Do not examine the documents not stipulated in LC.(3) The time for examining documents for Nominated Bank, Confirming Bank and Issuing Bank is 7 days following the date of receipt of documents. If more than 7 days, banks must pay regardless ofany discrepancies in documents

23、.Accepting / Paying / Reimbursing by Issuing Bank (2)2Pay3Forward docs to and claim onIssuingBankExporterBeneficiaryNominated Bank1documents(4) If refusing documents, Issuing Bank must notify the presenter by telecommunication within 7 days following the date of receipt of documents.Telecommunicanti

24、on: Notice to refuse must state:1. all discrepancies once for all.2. holding documents at disposal of, or is returning them to , the presenter. 4If one point is not satisfied, Issuing Bank is not in the position to refuse documents. (Art. 14 D,E)Discrepant documents to be taken up by Issuing BankIf

25、finding discrepant documents, Issuing Bank has the following option;1. return the documents to presenter to have them represented within validity of LC. Issuing Bank1Return documents1docsExporterBeneficiaryNominated BankRepresent corrected docs within validity5Represent within validity52. if feeling

26、 the discrepancies not are not materialit can ask applicant to waive discrepancies.Importer ApplicantAsk to waive discrepancies within 7 days of Issuing Banks receipt2Agree Or 2refuse3 Exporter may request Issuing Bank to present to buyer on collection. 3Req.3request3collectTo pay with reserve or ag

27、ainst indemnity( with recourse) . 4To pay With 4 recourseExport Credit Operation (1) Review LCApplicant1ApplyIssuing Bank2Documentary CreditAdvising /NominatedBankIrrevocable unconfirmedDC Advice(P.181)3BeneficiaryCheck the signature or test code of LC to determine the apparent authenticity of LCWhe

28、n receiving LC, check togetherwith advising bank: The LC appears to be a valid DC. The type of LC & its terms & conditions are in accordance with sales contract. The LC does not contain any unacceptable or impossible condition. The goods description & unit price are the same as in sales

29、contract. Additional costs (interest, charges, expenses) not stipulated in contract would not be borne by beneficiary. the shipping & expiry dates indicated in LC & presentation period of docs aresufficient to enable beneficiary to comply with them in order obtain payment. Port of loading/di

30、scharge, place of taking in charge / dispatch /delivery arethe same as in contract. And insurance requirement is same as in contract.Export Credit Operation (3)ApplicantApplyIssuing BankDocumentary CreditRequesting Advising Bank to confirm. Advising /NominatedBankIrrevocable confirmed DC AdviceBenef

31、iciary This notification & the enclosed LC are sent to you without any engagement on our part. ( = not confirmed ) As requested by the Issuing Bank, we hereby add our confirmation to this Credit in accordance with the stipulations under UCP500 Article 9.Advising Bank would collect advising feesf

32、rom beneficiary and confirming fees fromIssuing Bank (who collects from applicant).Examination of documents (1) Examining a draftExchange for USD122,500.00 Hong Kong, June 18, 1994At sight pay to the order of Electronic Distributors AssociatesOne Hundred Twenty-two Thousand Five Hundred US dollarsFo

33、r Value Received and Charge same to account of .Drawn under LC No. 1234 dated May 29,1994, issued by Banko Binko, Panama, Rep. of PanamaTo: Banko Binko For Electronic Distributors Associates Panama Hong Kong LL 1. Is LC number required on draft absent or incorrect ?2. Does the amount of draft agree

34、with LC amount and invoice ?3. Is the tenor the same as shown in LC ?4. Is the draft drawn by the beneficiary ?5. Is the drawers signature presented on the draft ?6. Is the draft drawn on the nominated bank in LC ?etc. June 17, 1994Sold to : Importadora Electronica S.A Terms: Documentary Credit Pana

35、ma, Rep. Of PanamaPacking Description Price1 container Televisions, VCR, Video recorders and spare parts of Japanese origin USD100,000.00 VHS cassettes of Chinese origin, 10000 USD 5,500.00 FOB Factory USD105,500.00 Handling USD 150 Freight USD 16,850.00Total CFR (INCOTERMS 1990) Puerto Armuelles, P

36、anama USD122,500.00 LL Electronic Distributor AssociatesElectronic Distributor Associates Hong Kong Consolidators Inc., as agentsInvoice No. 741 Contract No. 1714-XCommercial InvoiceElectronic Distributing AssociatesExamination of documents (2) Examining a commercial invoice 1. Is it issued by the b

37、eneficiary named in LC ?2. Is it issued to the correct name & address in LC ?3. Does the description of goods in invoice correspond exactly to that in LC ?4. Does the quantity in invoice correspond with that of in LC ?5. Does the invoice amount exceed that of LC ?6. Does the invoicestate the del

38、iveryterms, & is it correspond with that of LC ?etc. Examination of documents (3) Examining a transport documentShipper: Electronic Distributing Associates Hong Kong Consolidators, Inc., as agentPort of Loading Hong KongPort of dischargePuerto ArmuellesPanamaOcean Vessel: M/V AltamaresPlace of d

39、elivery (Applicable only when document used for MULTIMODAL transport):Place of receipt (Applicant only when documentUsed for MULTIMODAL transport):Notify address(carrier not responsible for failure to notify: Importadora Electronica S.A 147, Avenida San Jose, Panama, Rep. Of PanamaCarrier: LHK LINES

40、 ? No. 7Shippers reference: EDA PA4576Consignee: To order of Transitarios Panama Voyage No. 59EFor multimodal transport or port to port shipment1. Does it contain correct name & address of the consignee in LC ?2. Does it contain the correct transport details stated in LC ?3. If required by LC, i

41、s the “notify party” listed ?Signature LLXYZ Company as agentPlace and date of issue:Hong Kong June 9, 1994Number of Originals 2Freight payable at:collectAppropriate column to be marked by Collect USD 16,800.-Destination Land Freight/transp addr.Sea FreightOrigin TMC/LCL chargeFreight and chargesMov

42、ement:Received by the Carrier from the Shipper in apparent good order and condition (unless otherwise noted Herein) the total number or quantity of Containers or other packages or units indicated in the box opposite entitled “Total No. of Containers/packages received by the Carrier” for carriage sub

43、ject to all the termsand conditions hereof (INCLUDING THE TERMS AND CONDITIONS ON THE REVERSE AND THE TERMS ANDCONDITIONS OF THE CARRIERS APPLICABLE TARRIF)from the Place of Receipt or the Port of Loading, whichever is applicable to the Port of Discharge or the Place of Delivery, whichever is applic

44、able in accepting the documents the Merchant expressly accepts and agrees to all its terms and conditions whether printed, stamped or written, or otherwiseincorporated, notwithstanding the non-signing of this document by the Merchant.Total No. of Containers/ Shippers declared packages received by va

45、lue：the Carrier: USD 122,500 1Container Nos. Number and type of packages, Gross weight(kg) measurement(cbm)Seal Nos, description of goodsMarks and Nos. 1 container TVs, VCRs, Spare parts and Cassettes ON BOARD June 9, 1994 ABOVE PARTICULARS AS DECLARED BY SHIPPERS 接上页接上页4. Does it contain a “clean s

46、hipped on board notation ?5. Was it issued within “latest date of shipment” specified in LC ?6. Is full set of original being presented ?7. Are they consistent with LC and other documents ?8. Is the freight terms consistent with those stipulated in LC ?9.correctly signed ?etc. p.185中国人民保险公司天津分公司中国人民

47、保险公司天津分公司The Peoples Insurance Company of China, TIANJIN BRANCHHEAD OFFICE: BEIJING ESTABLISHED IN 1949Insurance Building, Qu Fu RoadHeping District, Tianjin, ChinaCABLE: 42001 TIAJINTEL: 315366 315367TLX: 23262 PICC CNFAX: (86)(22)30129INVOICE NUMBER TES/203023098INSURANCE POLICY 保险单保险单POLICY NO：TT

48、03/121071193302512保险单号次保险单号次THIS POLICY OF INSURANCE WITNESSES THAT THE PEOPLES INSURANCE COMPANY OF CHINA （HEREINAFTER CALLED “THE COMPANY”中国人民保险公司（以下简称本公司）中国人民保险公司（以下简称本公司）AT THE REQUEST OF TIANJIN TEXTILE I/E CORP.（HEREIN CALLED “THE INSURED”）TO INSURE THE根据被保险人的要求（以下称为被保险人）由被保险人向本公司缴付约定的保险费，按照本保

49、险单承保险别和根据被保险人的要求（以下称为被保险人）由被保险人向本公司缴付约定的保险费，按照本保险单承保险别和UNDERMENTIONED GOODS IN TRANSPORTATION SUBJECT TO THE CONDITIONS OF THIS POLICY背面所载条款与下列特款承保下述货物运输保险，特立本保险单。背面所载条款与下列特款承保下述货物运输保险，特立本保险单。AS PER CLAUSES PRINTED OVERLEAF AND OTHER SPECIAL CLAUSES ATTACHED HEREON。 USD1,769.0085%P, 35%V GABARDINE (

50、华达呢）华达呢）4 CTNS （4箱）箱）As per Invoice No.TES/203023098按照发票号按照发票号AMOUNT INSURED 保险金额保险金额DESCRIPTION OF GOODS 保险货物项目保险货物项目 QUANTITY 数量数量MARK AND NOS 标记标记1. Is it correct type of insurancedocuments stipulated in LC ?2. Is the merchandise description consistent with that shown in LC ?3. Is the % of the sa

51、me as specified in LC ?4. Is the insured is as in LC ?TOTAL AMOUNT INSURED: U.S.Dollars One Thousand Seven Hundred and Sixty Nine Only.总保险金额总保险金额 PREMIUM: AS PER ARRANGED保费保费RATE: AS ARRANGED费率费率PER CONVEYANCE: S.S. TIAN Yan No.731运载工具运载工具SAILING ON OR ABOUT: AS PER B/LSLG. ON OR ABT: 开航日期开航日期FROM自自

52、: XINGANG TO至：至： HONGKONGCONDITIONS: Covering All risks as per Institute Cargo Clauses (1.1.1963) and Risk of 承保险别承保险别 War as per Institute War Clauses (11.3.80) . (Warehouse to Warehouse is included) 投保投保1963年年1月月1日协会货物条款的一切险和日协会货物条款的一切险和1980年年11月月3日日 的的 战争险（包括仓至仓条款）战争险（包括仓至仓条款）CLAIMS IF ANY， PAYAB

53、LE ON SURRENDER OF THIS POLICY TOGETHER WITH OTHER RELEVANT 所保货物如遇出险，本公司凭本保险单及其它有关证件所保货物如遇出险，本公司凭本保险单及其它有关证件 给付赔款。所保货物如发生本保险单项下负责赔偿的损失给付赔款。所保货物如发生本保险单项下负责赔偿的损失DOCUMENTSS IN THE EVENT OF ACCIDENT WHEREBY LOSS OR DAMAGE MAY RESULT IN A CLAIM或事故，应立即通知本公司下述代理人勘察。或事故，应立即通知本公司下述代理人勘察。UNDER THIS POLICY IMM

54、EDIATE NOTICE APPLYING FOR SURVEY MUST BE GIVEN TO THE COMPANYSAGENT AS MENTIONED HEREUNDER。THE MING AN INSURANCE CO.(H.K.) LTD.INTERNATIONAL BUILDING 14TH FLOOR 141, DES VOEUX ROAD, CENTRAL HONGKONG. 中国人民保险公司天津分公司国外业务部中国人民保险公司天津分公司国外业务部THE PEOPLES INSURANCE CO. OF CHINATIANJIN BRANCH FOREIGN BUSINE

55、SS DEPT. 冯念贤 Deputy Manager Feng Nian XianCLAIM PAYBALBE AT: Hongkong in USD赔款偿付地点赔款偿付地点DATE: 28TH JUN. 1999 TIAJIN单据签发日期单据签发日期 签发地点签发地点1. Is currency same as in LC ?2. Is the information in insurance doc. concerning mode of transport and transport route consistent with LC ?3. Has the doc. cover all

56、 the risks stipulated in LC4. Is issuing date later than the date of B/L ?5. Is it signed by insurance co. or its agent ?Most common discrepancies in examination of documents (1)1. Bill qualified（unclean）B/L L/C .Clean B/L Bill of Lading5 cases short shipped or Contents leaking orPackaging soiled by

57、 contents orPackaging contaminated orGoods damaged / scratched orInsufficient packaging2. No evidence of goods actually “shipped on board” L/CClean on board bill of lading. Bill of/Lading.Place and Date of Issue Tokyo, JUNE 2, 2003Importer does not want defective goods & carrierwould note the de

58、fective conditions of goods on B/L when receiving them from seller to discharge carriers duty.After receiving goods from exporter, carriermust arrange shipment, e.g. only 2 ships goto Italy from Xingang, Tianjin, one for first half of a month, another for 2nd half of a month, if exporter misses firs

59、t one, he will have to wait for the one in 2nd half of the month though B/L has been issued by carrier. To urge exporter deliver goods on time, importer may require “ on board” B/L, the date of which should not be later than the “latest shipment date” in LC. There should be in the notation: Not clea

60、nShipped on boardJune 2, 2003Most common discrepancies in examination of documents (2)3. Goods shipped on deck Bill of Lading.On deck at shippers risk.If ships cabin is full & goods or container were put on deck, thereis risk of being spoiled by bad weatheror washed away from deck to seas by waves and “at shippers risk” meansthe risk is borne by exporter himself.Banks