1、Text 1Letter of Credit1.Definition and Characteristics of L/CL/C is one of the main ways of payment in international trade,and it is a written document that a bank presents to promise the exporter payment conditioned,responding to the request for the importer.L/C is a credit mode of guarantee paymen
2、t by the bank,so it is a bank credit.L/C has three kinds of characteristics:A.The contract bank burdens main responsibility.B.L/C is an independent document and it is based on the contract.However,L/C will be an agreement outside of the contract as long as it is confirmed,so the bank will not be res
3、tricted from the contract.If the exporter cant accept the problem that the term of L/C is not consistent with the terms of contract,the importer should modify L/C according to the contract and requests timely.C.L/C is a bill of document,and the bank will only recognize the document,not the goods.As
4、long as the document presented from beneficiary is consistent with the terms of L/C,the drawee bank should pay the beneficiary in time according to the rule of L/C,regardless of any loss or damage of the goods.2.Basic Contents of L/CDOCUMENTS REQUIRED:+SIGNED COMMERCLAL INVOICE,2 ORIGINAL AND 4 COPI
5、ES+PACKING LIST,ORIGINAL AND 4 COPIES+CERTIFICATE OF ORIGIN GSPCHINA FORM A,ISSUED BY THE CHAMBER OF COMMERCE OR TOTHER AUTHORITY DULY ENTITLED FOR THIS PURPOSE+FULL SET OF NEGOTIABLE INSURANCE POLICY OR CERTIFICATE BLANK ENDORSED FOR 110 PERCENT OF THE INVOICE VALUE COVERING ALL RISKS+FULL SET OF B
6、/L CLEAN ON BOARD,MAKE OUT TO ORDER OF SHIPPER AND BLANK ENDORSED AND MARKED“FREIGHT PREPAID”AND NOTIFY APPLICANT3.Instruction of Contents(1)信用证基本情况的说明。revocable or irrevocable 可撤销或不可撤销(信用证的种类)L/C No.&issuing date信用证号码及开证日期beneficiary 受益人(一般为出口商)applicant 开证申请人(一般为进口商)amount 信用证金额(一般有大写和小写数字)validit
7、y or expiry date and place 有效期限(一般应写明到期时间和地点)(2)对货物的要求。name of commodity 商品名称specification 规格quantity 数量packing 包装trade terms&unit price 贸易条款和单价(3)对运输的要求。port of lading or shipment from 装运港或起运地port of discharge or destination 卸货港或目的地time of shipment 装运期partial shipment allowed or not allowed 可否分批装运t
8、ransshipment allowed or not allowed 可否转运mode of shipment 运输方式(4)对单据的要求。commercial document商业单据,such as commercial invoice商业发票,packing list装箱单,certificate of origin产地证,inspection certificate商检证书shipping document运输单据,such as bill of lading 提单insurance document 保险单据other documents 其他单据(5)对汇票的要求。drawer
9、出票人(一般是受益人)drawee/payer 付款人date 汇票日期drawn clause 出票条款date of draft 出票日期(6)其他事项。开证人对受益人及汇票持有人保证付款的责任文句。4.Words and Expressions transshipment allowed or not allowed 允许或不允许转运document单据commercial invoice商业发票packing list装箱单certificate of origin产地证inspection certificate检验证书bill of lading提单draft汇票letter of credit(L/C)信用证L/C NO.信用证号beneficiary受益人applicant申请人issuing date开证日期validity or expiry date and place有效期(或到期时间)及地点trade term贸易术语mode of shipment运输方式partial shipment allowed or not allowed允许或不允许分批装运
