Section 3 L/C Applicant (importer) Beneficiary (exporter)） Procedures of L/C 4 4. Checking & . Checking & advisingadvising 1.1.payment by L/Cpayment by L/C Paying bank issuing bank Advising bank negotiating bank 2 2. Application . Application 3 3. . Issuance Issuance 5 5(1)(1). . Request of Request of amdmntamdmnt 5(2). 5(2). amdmntamdmnt 5(3). 5(3). amdmntamdmnt 6. negotiation6. negotiation 7 7. .Presenting DOCS Presenting DOCS and reimbursing and reimbursing 8.Presenting 8.Presenting DOCS for DOCS for paymentpayment Reimbursing bank 代付行 受票行受票行 ( (第三国货币）第三国货币） i instrucnstruc tiontion 有开证行存有开证行存 款帐户款帐户 索偿索偿 5(4). 5(4). amdmntamdmnt Step1. payment by L/C in contract 请注意付款是以保兑的不可撤销的允许分 装和转船的以我公司为受益人的按发票金 额见票即付的信用证支付。该信用证应通 过我们认可的银行开出。 Please note that payment is to be made by confirmed, irrevocable L/C in our favor, available by draft at sight for the full amount of the invoice value and allowing partial shipment and transshipment. The L/C is to be established with a bank acceptable to us. Establishment of L/C 要求对方开证 你方订单已经收到。兹告我 方之127DN型录音带备有足够库存，可以如 期交货。用不可撤销的信用证付款对我方 颇为方便，我们将向你方往来银行开立见 票后六十天付款的汇票。目前我方正等待 你方信用证的到达，收到后将对你方订货 做出所需的装运安排。你方如需要进一步 的协助或资料，当必即办。 We are pleased to receive your order, and wish to say that we have adequate stocks of Type 127DN tapes in our warehouse, and that delivery date can be met. Payment by irrevocable L/C is convenient for us, and we shall draw a 60 d/s bill on your bank. We are now awaiting the arrival of your L/C, on receipt of which we shall make the necessary arrangements for the shipment of your order. If you need further assistance or information, please let us know. Press for establishing L/C 通知客户装运延期 关于我方第2348号售货 确认书项下的一万打浴巾11月份装运一事 ，尽管你方应允在签署售货确认书后立即 开出信用证，但迄今我们犹未收到。如能 调查此事并及时给予答复，我们将非常高 兴。在目前的情况下，装运不得不延期。 This is to refer to our S/C No.2348 covering 10,000 dozen Bath Towels for shipment during November. We have so far not received your L/C although you promised to establish it immediately after the signing of the S/C. We shall be glad if you will look into the matter and let us have a reply without delay. Under the present circumstances, shipment will have to be postponed. Sample letters (1 ) and (6) in text for pressing establishment of L/C Step 2. L/C application See L/C application in word form Homework: fill out L/C application (1) and (2) Step3. issuance 1. to open by airmail 2. to open by cable ( telex, fax or SWIFT) -brief cable -full cable L/C by brief cable MSG NO. L/C NO. FM: TO: DATE: TEST X X X FOR USD_ PLEASE ADVISE BENEFICIARY THAT WE ISSUED IRREVOCABLE CREDIT NO._ON_FAVOUR:_ ACCOUNT: AMOUNT: EXPIRY: COVERING GOODS: SHIPMENT FROM _TO _LATEST_ THIS IS NOT AN OPERATIVE INSTRUMENT, AIRMAIL OPERATIVE INSTRUMENT TO FOLLOW. L/C samples in the textbook and others Step4. checking and advising 1. 通知L/C，密押不符回复电 3 TO: X X BANK, X X BRANCH 2.未建密押关系而要求核押回复电6 3. 信开L/C签字不符要求核押证实9 4.通知L/C,向开证行发去回执电12 5.通知行要求开证行核实L/C真伪15 6. 开证行核实L/C系伪造，复电通知行167 Sample letter in text (3): Letter by applicant to beneficiary informing the opening of L/C Sample letter in text (4) by issuing bank informing the opening of L/C Step5. amendment 5(1). correspondence by beneficiary to applicant requesting amending L/C) Sample letters in text (2) and (5) Dear Sir or Madam, Thank you for your L/C No. H982/M056378 issued by the MIDLAND BANK LTD., which arrived here yesterday. We regretfully find that certain points are not in conformity with the terms stipulated in the contract. The discrepancies are as follows: 1. The amount in words is different from that in figures, please amend the former to read “ Say Five Hundred Thousand US Dollars Only.” 2. The draft is paid at sight instead of at 60 days after sight. 3. Partial shipment & transshipment are allowed in the contract, which prohibited in L/C. 4. Goods should be insured for 110% of the invoice value, not 150%. 5. Documents should be presented for negotiation within 15 days after issuance of shipping documents instead of “ within 5 days”. 6. The sentence that the L/C should be subject to UCP600 should be added. As the goods are now ready for shipment, you are kindly requested to amend the L/C ASAP. Yours faithfully, X X X Example of L/C amendment on the basis of contract 浙江金源服装有限公司 5(2). Application for amending L/C by applicant 5(3). correspondence by issuing bank for L/C amendment (1). 开证行向通知行致电L/C修改 （184） (2). 开证行再次致电撤销L/C( 188) (3). 开证行再次致电撤销L/C( 191) 5(4). correspondence by advising bank for L/C amendment (1)价格条款与提单上运费标注声明不一致 ，致电修改20 （2）致电要求修改发票的鉴定人25 （3）致电要求添加溢短装条款312 （4）致电修改装运期35 （5）致电拒绝L/C修改，因为受益人已经发 货39 （6）受益人申请撤销L/C,致电开证行467 （7）L/C装效期与预通知不符，致电要求修 改51 Homework: Amend L/C based on sales contract give