Chapter 8 establishment of LC and amendment概要1.ppt

Chapter 8 Establishment of L\C and amendment Establishment of L\C Urging establishment of L/C Amending a letter of credit Extend a letter of credit BANK OF CHINA (HONG KONG) LIMITED HONG KONG ? Date of issue: April 15, 2005 ? China National Import Export Corp. Beijing Branch Beijing China Dear Sirs We hereby establish our irrevocable Letter of Credit No. 226311 in your favor for account of Good Value Department Store, Ocean Center, Canton Road – Kowloon, Hong Kong, SAR for the amount of USD 30,000 (Thirty thousand US dollars) available by your draft drawn on us at sight for full invoice value accompanied by the following documents: 1. Signed Commercial Invoice in three originals 2. Packing List in triplicate 3. Full set of Original Bill of Lading showing “to order” and blank endorsed, marked “freight collect”, notifying Global Forwarder, 246 Lin Kong Road, Satin, New Territories, HK SAR, Tel: Fax. 4. Photocopy of Certificate of Origin issued by the public authorities of China. covering 6,000 pieces of Girl’s Pants at USD 5 per piece FOB Tianjin, China. Shipment latest May 15, 2005 from Tianjin, China to Hong Kong. Partial shipments are not allowed. Additional conditions: 1.All charges outside our country and any charges relating to reimbursement are for account of beneficiary. 2.Any cable charges relating to advice of discrepancy(ies), are for account of beneficiary. All documents must be presented for payment 15 days after the date of shipment. We hereby agree with drawers, endorsers and bona fide holders of the drafts that all drafts drawn under and in compliance with the terms of this credit will be duly honored upon delivery of documents as specified, if presented in China on or before May 25, 2005. This credit may be negotiated at any bank. Yours faithfully Authorized Signature ? Unless otherwise expressly stated, this letter o