Question
1. Create a Bill of Exchange and a Letter to Credit using the information below also indicate how to issue them . FORM OF DOC.CREDITIRREVOCABLE
1. Create a Bill of Exchange and a Letter to Credit using the information below also indicate how to issue them .
FORM OF DOC.CREDITIRREVOCABLE
CREDIT NUMBER50000585
DATE OF ISSUE 20161102
EXPIRY DATE 20161230 PLACE: CHINA
OPENING BANKREPUBLIC NATIONAL BANK OF GERMANY, HAMBURG BRANCH
APPLICANTNANCY FABRICS INC., 5 STREET NO. 43 AVENUE 5, HAMBURG, GERMANY
BENEFICIARYHANGZHOU TENGLONG WEAVING CO., LTD. #198 JIANSHE NO.1 ROAD, XIAOSHAN ECONOMIC & TECHNOLOGICAL DEVELOPMENT ZONE, HANGZHOU 311215,CHINA
AMOUNTCURRENCY USD AMOUNT 81,000.00 ABOUT
AVAILABLE WITH/BYDRAFT(S) UNDER L/C ISSUED ON DEC12, 2016
DRAWNAt 60 DAYS AFTER DATE ON REPUBLIC NATIONAL BANK OF GERMANY, HAMBURG BRANCH
PARTIAL SHIPMENTSPARTIAL SHIPMENTS ALLOWED
TRANSSHIPMENTTRANSSHIPMENT ALLOWED.
LOADING IN CHARGESHANGHAI, CHINA
FOR TRANSPORT TOHAMBURG, GERMANY
LATEST DATE OF SHIP20161215
DESCRIPT. OF GOODSUPHOLSTERY FABRICS 30000 MTRS AT USD2.70/MTR CIF HAMBURG, GERMANY TOTAL AMOUNT USD81,000.00 PACKING: ROLL
DOCUMENTS REQUIRED
+ SIGNED COMMERCIAL INVOICE IN TRIPLICATE
+ DETAILED PACKING LIST IN TRIPLICATE
+ GSP FORM A
+ 3/3 SET NEGOTIABLE CLEAN ON BOARD OCEAN BILLS OF LADING CONSIGNED TO ORDER OF REPUBLIC NATIONAL BANK OF GERMANY, HAMBURG BRANCH NOTIFYING APPLICANT AND MARKED FREIGHT PREPAID.
+ INSURANCE POLICY IN DUPLICATE COVERING AT LEAST 110% OF COMMERCIAL VALUE WITH CLAIM PAYABLE IN HAMBURG IN EUR AGAINST ICC(A) AND WAR RISKS AND SRCC RISKS.
ADDITIONAL REQUIREMENTS
+ 5% MORE OR LESS ON QUANTITY AND AMOUNT ARE ACCEPTABLE.
+ DRAFTS ARE TO BE MARKED DRAWN UNDER REPUBLIC NATIONAL BANK OF GERMANY HAMBERG BRANCH AND BEARING CREDIT NUMBER AND THE ISSUING DATE.
+ BENEFICIARY SHOULD BE CERTIFYING ON THE INVOICE AND B/L INDICATING THAT THE GOODS ARE COMPLYING WITH THE S/C CONTRACT NO.NA55578.
+ A DISCRIPANCY FEE OF USD 50.00 WILL BE DEDUCTED FROM THE PROCEEDS OF ANY DRAWING PRESENTED WITH DISCRIPANCIES.
+ IT IS A CONDITION OF THIS CREDIT THAT ALL DOCUMENTS ARE TO FORWARDED IN ONE COMPLETE MAILING TO REPUBLIC NATIONAL BANK OF GERMANY HAMBURG BRANCH.
+ UPON RECEIPT DRAFTS AND ALL DOCUMENTS ACCOMPANIED IN CONFORMITY WITH THE TERMS AND CONDITIONS OF THIS CREDIT,WE WILL REMIT PROCEEDS TO YOUR ACCOUNT AS PER YOUR INSTRUCTION.
DETAILS OF EXCHARGESALL CHARGES OUTSIDE THE ISSUING BANK APE FOR THE ACCOUNT OF THE BENEFICIARY.
PRESENTATION PERIODDOCUMENTS MUST BE PRESENTED WITHIN 15 DAYS FROM SHIPMENT DATE BUT WITHIN CREDIT VALIDITY.
CONFIRMATIONWITHOUT
ADVISE THROUGHBKCHCNBJ9
BANK OF CHINA LTD.,ZHEJIANG NO.189 YANAN ROAD,HANGZHOU, 310006
ZHEJIANG PROVINCE,CHINA
TRAILERTHIS CREDIT IS SUBJECT TO ICC PUBLIC NO.600(2007 REVISION)
FOR REPUBLIC NATIONAL BANK OF GERMANY, HAMBURG BRANCH
(SIGNED)
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