Curso de Inglés Comercial y de Negocios

Read the application for a letter of credit below and answer the following questions.

CIF = all Costs, Insurance and Freight paid by the exporter (Mr. Peter Umbeke)
Letter of Credit = A letter from one bank to another to give the seller (exporter) credit

Now complete the bank’s application form with information from the above letter.

We instruct you to open IRREVOCABLE (unless requested in writing to be REVOCABLE) Documentary Credit on the terms set out below.

Applicant (Name and address)

Advising bank (Name and address)

Date of expiry 11/23/06
Place of expiry (country of beneficiary unless otherwise stated) Boston, MA, USA.
Documents to be presented within days after date of issue of transport documents.

Beneficiary (Name and Address)

Partial shipments                                                                                                  Transhipments
Allowed                                                                                                            Allowed
Not allowed                                                                                                      Not allowed

Amount (in words and figures)

Shipment from

Arrival not later than
To

Credit available against presentation of documents detailed below and of drafts drawn on London Bank of Trade and Commerce or conforming bank, where applicable.

DOCUMENTS REQUIRED

1. Signed commercial invoice in triplicate showing contract terms.

CIF CFR FOB EXW OTHER

2. Full set of clean On Board Marine Bills of Lading to order and blank endorsed and marked
Freight PAID COLLECT
Air Waybill evidencing goods consigned to and marked
Freight PAID COLLECT
Specify other Transport Document if required

3. Insurance Policy/Certificate in blank for 110% of the invoice amount covering “All Risks”
Insurance to be effected by applicant

4. Other documents / Special Instructions

DESCRIPTION OF GOODS

We request you to arrange a Documentary Letter of Credit on the terms set out above subject to Uniform Customs and Practice for Documentary Credits (1993) International Chamber of Commerce Publication No. 500.
In consideration of you arranging the Documentary Letter of Credit we accept the terms and conditions and agree to comply with the terms and conditions stated.

Authorised Signature(s) ________________________ For and on behalf of Applicant

Date