TBC Letter Of Credit

Trade Services: Letters of Credit

Agenda ,[object Object],[object Object],[object Object],[object Object],[object Object]

Reasons for and Threats to International Trade ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Risks to be considered ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Conditions of payment and security ,[object Object],[object Object],Exporter’s interest TradeFinance Pre- payment Confirmed letter of credit Unconfirmed letter of credit Documentary collection Payment after receipt of goods Increasing security

In every international trade transaction, there must be : ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Documentary Credits Back to top

A definition of a Letter of Credit: Contractual obligation of a bank for account and instruction of a customer to effect a specified payment upon receipt of specified documents in compliance with specified conditions (as per Letter of Credit).

Documentary Letters of Credit EE Exporter Importer Issuing Bank Advising Bank 8 2 1 5 7 3a 6 4b 4a contract Shipment of goods Letter of credit application Delivery of documents/ debiting of account Remittance of Documents/Payment Letter of Credit opening presentation of documents / Payment Advising Confirmation Abstract undertaking to pay 3b

Types of Letter of Credit ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

International Regulations Back to top

International Regulations – UCP600 ICC Uniform Customs and Practice for Documentary Credits Published by the International Chamber of Commerce, Paris Actual Version UCP 600, since 1 st July 2007.

International Regulations - Incoterms ,[object Object],[object Object],[object Object],[object Object]

Documents Under Letters of Credit Back to top

Documentary Requirements ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Documents – which will be used? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Documents – which will be used? ,[object Object],[object Object],[object Object],[object Object],Bill of Lading (B/L) Specimen (Article 20 of UCP 600)

Documents – which will be used? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Documents – which will be used? ,[object Object],[object Object],[object Object],[object Object],Air Transport Document Specimen (Article 23 of UCP 600)

Documents – which will be used? ,[object Object],[object Object],[object Object],[object Object],[object Object]

Documents – which will be used ? ,[object Object],[object Object],[object Object],[object Object]

Documents – which will be used? ,[object Object],[object Object],[object Object]

Presentation of documents ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Presentation of documents ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Letters of Credit at TBC BANK ,[object Object],[object Object],[object Object]

Letters of Credit at TBC BANK ,[object Object],[object Object]

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

TBC Letter Of Credit

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