Question
Check the terms set forth in L/C No.94625 with the contents of the under-mentioned S/C No.1023 to see what discrepancies between them exist and then
Check the terms set forth in L/C No.94625 with the contents of the under-mentioned S/C No.1023 to see what discrepancies between them exist and then write a letter requesting the buyer to make the necessary amendments and extension.
Letter of Credit
THE CHARTERED BANK
Singapore
Irrevocable L/C No.94625
Date:
To China National Import &
Export Corp.
Shanghai Branch
Dear sirs
You are hereby authorized to drawn on Hua Feng Trading Co., Singapore for a sum not exceeding USD7,850.00 CIF (SAY US DOLLARS SEVEN THOUSAND EIGHT HUNDRED AND FIFTY ONLY) available by your draft, drawn in duplicate, on them at sight, accompanied by the following documents:
⦁ 3 non-negotiable copies of clean shipped on board bill of lading, ,marked “Freight prepaid”;
⦁ Signed Invoice in triplicate;
⦁ Certificate of Origin in duplicate;
⦁ Insurance Policy induplicate covering WPA & War for full invoice value plus 10%.
Evidencing shipment from Shanghai to Singapore of the following merchandise:
500 dozen T-shirts as per S/C No. 1023 dated June 15, 2015. Condition of Shipment:
⦁ Transshipment is prohibited;
⦁ Partial shipments are permitted.
This credit expire on Aug 18, 2015 and is subject to the Uniform Customs & Practice for Documentary Credits (2007 Revision) International Chamber of Commerce Publication No.600
Yours sincerely
The Chartered Bank
Singapore
Chief Accountant
SALES CONFIRMATION NO. 1023
Date: June 15, 20..
The seller: China National The buyer: Hua Feng Trading Co.
Import& Export Corp Singapore
Shanghai Branch
The undersigned seller and buyer have agreed to close the following transaction according to the terms and conditions stipulated below:
Commodity& Specification Quantity Unit price & terms Total amount
Printed T-shirts:
Designs& color at seller’s option
Large size
Medium size
Small size
250 dozen
150 dozen
100 dozen
500 dozen CIF
Singapore
USD 21.00
USD 15.00
USD 12.50
USD 5,250.00
2,250.00
1,250.00
USD 8,750.00
Total value: USD 8,750.00 Destination: Singapore
Shipment: During July/August 20.. Insurance: To be effected by the
Payment: By 100% confirmed& irre- seller at 110% of invoice value
vocable L/C to be available by sight coving WPA &War risk as per
draft, reaching the seller 30days before China Insurance Clauses(CIC)
the month of shipment, remaining valid
for negotiation in China for another 21
days after the prescribed time of
shipment, allowing transshipment &
partial shipments.
The Buyer: The Seller:
Signature Signature
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