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;;;Business background;;Analyze the format and contents
of the sample letter;Reading comprehension;;Language points;;Language points;Language points;Relative Information;Introduction ;Relative Information;Introduction ;Relative Information;Some items about L/C;开证
申请人;开证申请人(Applicant/Importer)
Liable for payment to the issuing bank provided that there is no discrepancy between documents and the credit;
Right to examine the documents and refuse payment;
Any requirement of the applicant should be satisfied by certain documents and clearly indicated when making credit application.
Issuing application form
; Nominated bank means the bank with which the credit is available or any bank in the case of a credit available with any bank.
Unless the credit stipulates that it is available only with the issuing bank, all credits must nominate the bank which is authorized to pay, to incur a deferred payment undertaking, to accept draft or to negotiate. In a freely negotiable credit, any bank can be seen as a nominated bank. ;受益人(Beneficiary/seller)
The right to examine a credit upon receipt of it according to the sales contract;
whether be paid or not solely depends on the fulfillment of terms and conditions of the credit.;保兑行(Confirming bank)
Undertake the same obligations assumed by the issuing bank;
Responsible for a credit independently and pay without recourse
议付行(Negotiating bank)
In a negotiation credit, purchases the drafts and documents;
When dishonored by the issuing bank, it has the right of recourse to the beneficiary;
Obtain the reimbursement from the issuing bank
付款行(Paying/accepting bank)
Designated by issuing bank to effect payment or acceptance, in most cases to be the advising bank;
Once it has made payment to the beneficiary, it will lose the right of recourse to the beneficiary;
Entitled to obtain reimbursement from the issuing bank;偿付行(Reimbursing bank)
A bank named in credit from which the paying bank, accepting bank or
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