What will be the Looks of A Standard L/c Format ?

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DRAFT OF A L/C TEXT

40A:    Form of Documentary Credit

            IRREVOCABLE, CONFIRMED, TRANSFERABLE

20:       /Documentary Credit Number

31C:    /Date of Issue:

31D:    /Date and Place of Expiry:

51:       /Applicant Bank

50:       /Applicant

59:       /Beneficiary:

32B:    Currency Code, Amount:

            UNITED STATES DOLLARS

39A:    Percent Credit Amount Tolerance: 05/05

41D:    /Available With .. By …:

42C:    /Drafts at :

            AT SIGHT

42D:    Drawee:

43P:    /Partial Shipment

            ALLOWED

43T:    /Transshipment:

            PROHIBITED

44A:    /Loading on Board/Dispatch/Taking in Charge At/From…Port:

44B:    /For Transportation To:

            ASWP

44C:    /Latest Date of Shipment

(45 DAYS FROM THE DATE OF RECEIPT IN THE BENIFICIARY BANK)

45A:    /Description of goods and / or Services :

            TOTAL QUANTITY:

46A:    /Documents Required:

DRAFT TO BE DRAWN AT SIGHT ON US BEARING THE CLAUSE DRAWN UNDER L/C

NO………………….ALONG WITH THE FOLLOWING :

1.      Signed Commercial invoice in one original and Three copies quoting our L/C no. and date

2.      Full set (3/3) of clean on board ocean bill of Lading made out the order of ………….and notify ………….. and marked freight pre-paid.

3.      Certificate of inspection issued by Societe General De Surveillance on quality, quantity, weight and supervision of lading at load port in 3 original.

4.      Certificate of Origin Issued by a chamber of commerce from the country of origin

5.      Packing List in three copies

47A:    /Additional Conditions :

1.      PLUS/MINUS 5 PCT IN QUANTITY AND VALUE IS ACCEPTABLE

2.      ONE SET OF SHIPPING DOCUMENTS IS TO BE FAXED TO L/C APPLICANT FAX NO. ………………. WITHIN 5 DAYS FROM THE DATE OF SHIPMENT

3.      THIRD PARTY DOCUMENTS ACCEPTABLE

4.      CHARTER PARTY B/L ACCEPTABLE

5.      ONLY DRAFT & INVOICE TO BEAR L/C REFERENCE. NO. OTHER DOCUMENT SHOULD BEAR L/C NUMBER, DATE OR NAME OF BANK ISSUING L/C.

6.      THE CREDIT IS SUBJECT TO ICC PUBLICATION 1993 REVISION BROCHURE NO. 500

71B:    /Charges :

ALL CHARGES OUTSIDE ………… , EXCEPT L/C CONFIRMATION CHARGES ARE ON ACCOUNT OF BENEFICIARY

48:       /Period for Presentation:

DRAFTS AND DOCUMENTS MUST BE PRESENTED FOR NEGOTIATION WITHIN 27 DAYS FROM B/L/DATE BUT WITHIN THE VALIDITY OF THE CREDIT

49:       /Confirmation Instructions :

            CONFIRM

53A:    Reimbursing Bank

78:       /Instructions to Paying / Accepting / Negotiating Bank :

            WE AUTHORISE YOU TO CLAIM REIMBURSEMENT FROM OUR ACCOUNT NO……………… WITH ……….. BANK IN ……… (CITY)

57A:    Advise through Bank

72:       Sender to receiver Information

            PLEASE ADVISE THIS CREDIT TO THE BENEFICIARY

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Thanks and best regards
Bipul