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Irrevocable Letter of Credit Sample in Swift Format

















17 October 2012 Wednesday
11:14:31
------------------ Instance Type and Transmission ----------------------
Original received from SWIFT
Priority/Delivery    :    Normal
Message Output Reference         :    1225 121016XXXXXXXXX5657939061
Correspondent Input Reference    :    1225 121016XXXXXXXXX1178375172

----------------------- Message Header ---------------------------------
Swift OUTPUT FIN 700 Issue of a Documentary Credit
Sender     :  ARABBANKXXX
                    ARAB BANK 
                    (COMMERCIAL BRANCH) 
                    MANAMA BH

Receiver    : TRADEBANKXXX
                    TRADE BANK
                    (ALL TURKEY OFFICES) 
                    ISTANBUL TR

----------------------- Message Text ----------------------------------
27:   Sequence of Total
        1/1
40A:  Form of Documentary Credit
        IRREVOCABLE
20:    Documentary Credit Number
        2012AML201203366
31C:  Date of Issue
        121016
40E:  Applicable Rules
        UCPURR LATEST VERSION
31D:  Date and Place of Expiry
        130106-TURKEY
50:   Applicant
        BAHRAIN MANUFACTURING COMPANY W.L.L
        P.O. BOX 30000,
        KINGDOM OF BAHRAIN
59:   Beneficiary - Name & Address
        INTERNATIONAL IMPORT COMPANY LTD, STI.
        (FULL BENEFS. NAME AND ADDRESS UNDER FIELD 47A ITEM NO.6)
32B:  Currency Code, Amount
         Currency    :    USD (US DOLLAR)
         Amount    :    #310.000,00#
39B:  Maximum Credit Amount
         NOT EXCEEDING
41A:  Available With...By... - BIC
         TRADEBANKXXX
         BY PAYMENT
43P:  Partial Shipments
         NOT ALLOWED
43T:  Transhipment
         ALLOWED
44E:  Port of Loading/Airport of Departure
         ANY TURKISH PORT
44F:  Port of Discharge/Airport of Destination
         KHALIFA BIN SALMAN PORT
44C:  Latest Date of Shipment
         121215
45A:  Description of Goods &/or Services
         CRUSHING PLANT. AS PER PROFORMA INVOICE NO.:P-111-7 R02 DATED 03/07/2012   
         CFR, BAHRAIN.
46A:  Documents Required
1. SIGNED COMMERCIAL INVOICE IN 1 ORIGINAL + 2 COPIES INDICATING DELIVERY TERMS.
2. FULL SET OF CLEAN ON BOARD BILL OF LADING ISSUED OR ENDORSED TO THE ORDER OF ARAB BANK PLC, NOTIFY APPLICANT SHOWING FREIGHT PREPAID AND SHOWING FULL NAME AND ADDRESS OF THE SHIPPING COMPANY AGENT OR HIS REPRESENTATIVE IN BAHRAIN.
3. A CERTIFICATE ISSUED BY THE VESSEL OWNERS/CAPTAIN/ CARRIER OR BY ONE OF THEIR AGENTS STATING THAT THE CARRYING VESSEL IS SUBJECT TO THE INTERNATIONAL SAFETY MANAGEMENT CODE (ISM) AND INTERNATIONAL SHIPPING AND PORT SECURITY SAFETY CODE (ISPS).
4. CERTIFICATE OF ORIGIN STATING THAT GOODS ARE OF TURKISH ORIGIN ISSUED BY A CHAMBER OF COMMERCE SHOWING NAME AND ADDRESS OF MANUFACTURERS.
5. PACKING LIST IN 1 ORIGINAL + 2 COPIES.
47A:  Additional Conditions
(1) HONOUR/NEGOTIATION OF DOCUMENTS UNDER RESERVE OR AGAINST INDEMNITY OR GUARANTEE IS PROHIBITED.
(2) DISCREPANCY FEE FOR USD 75.- (OR EQUIVALENT IN L/C CURRENCY)PLUS ALL RELATIVE SWIFT/TLX CHARGES WILL BE DEDUCTED FROM DOCUMENTS VALUE FOR EACH PRESENTATION OF DISCREPANT DOCUMENTS UNDER THIS CREDIT, NOTWITHSTANDING ANY INSTRUCTIONS TO THE CONTRARY.
(3) ALL REQUIRED DOCUMENTS INCLUDING TRANSPORT DOCUMENTS MUST BE DATED BUT NOT DATED PRIOR TO THE ISSUANCE DATE OF THIS CREDIT.
(4) ALL REQUIRED DOCUMENTS INCLUDING DRAFTS - IF ANY – MUST INDICATE OUR CREDIT NUMBER.
(5) FULL BENEFICIARYS NAME AND ADDRESS: INTERNATIONAL IMPORT COMPANY LTD, STI. BOGAZICI SOKAK.NO:12 KAVAKLIDERE ANKARA ANKARA, TURKEY,
(6) ALL PARTIES TO THIS TRANSACTION ARE ADVISED THAT WHERE THE U.S. EU, UN, AND OTHER GOVERNMENT AND/OR REGULATORY AUTHORITIES IMPOSE SPECIFIC SANCTIONS AGAINST CERTAIN COUNTRIESENTITIES AND INDIVIDUALS, BANKS MAY BE UNABLE TO PROCESS A TRANSACTION THAT INVOLVES A BREACH OF SUCH SANCTIONS, AND AUTHORITIES MAY REQUIRE DISCLOSURE OF INFORMATION. ARAB BANK IS NOT LIABLE IF IT, OR ANY OTHER PERSON, FAILS OR DELAYS TO PERFORM THE TRANSACTION, OR DISCLOSES INFORMATION AS A RESULT OF ACTUAL OR APPARENT BREACH OF SUCH SANCTIONS.

KINDLY ACKNOWLEDGE RECEIPT AND ADVISE US BY SWIFT THE DATE OF THIS CREDIT HAS BEEN ADVISED TO AND RECEIVED BY BENEFICIARY.

71B:  Charges
           
ALL CHARGES AND COMMISSIONS OUTSIDE BAHRAIN INCLUDING COURIER, CONFIRMATION AND REIMBURSEMENT CHARGES SHOULD BE PAID BY BENEFICIARY.

48:  Period for Presentation
PLS SEE FIELD 47A ITEM NO.15

49:  Confirmation Instructions
CONFIRM

53A: Reimbursing Bank - BIC 
CHASUS33XXX JPMORGAN CHASE BANK, N.A. NEW YORK,NY US

78:   Instruction to Paying/Accepting/Negotiating Bank

YOU ARE KINDLY REQUESTED TO FORWARD ORIGINAL SET OF DOCUMENTS AND DUPLICATES DIRECTLY TO US IN TWO CONSECUTIVE SETS BY SPECIAL COURIER TO OUR ADDRESS : TRADE FINANCE LETTER OF CREDIT PROCESSING CENTER,  DUBAI, U.A.E. FOR THE VALUE OF DOCUMENTS WHICH STRICTLY COMPLY WITH CREDIT TERMS, PLS REIMBURSE ON OUR BAHRAIN BRANCHES CENTER, USD A/C WITH JPMORGAN CXXSE BANK N.A., NEW YORK UNDER ATHENTICATED SWIFT ADVICE TO US .

57D:  `Advise Through` Bank -Name&Addr
MEESNL2A

----------------------- Message Trailer ------------------------------
{MAC:00000000}
{CHK:XXXXXXXX}


















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  • C1 Either field 39A or 39B, but not both, may be present 
  • C2 When used, fields 42C and 42a must both be present 
  • C3 Either fields 42C and 42a together, or field 42M alone, or field 42P alone may be present. No other
  • combination of these fields is allowed 
  • C4 Either field 44C or 44D, but not both, may be present 





MT 700 Network Validated Rules

  • When the documentary credit message exceeds the maximum input message length, additional documentary credit information should be transmitted via one or more MT 701s. Up to three MT 701s may be sent in addition to the MT 700.
  • Unless otherwise specified, a documentary credit advised to the beneficiary or another advising bank based on a SWIFT message constitutes an operative credit instrument.
  • For freely negotiable documentary credits, if the Receiver does not further transmit the credit by MT 710, it must add sentences to the effect that:
  • The advice to the beneficiary must be presented at each negotiation.
  • The negotiating bank must note each negotiation on that advice.
  • To avoid misunderstandings, where possible, banks are to use Bank Identifier Codes rather than expressions such as ourselves ,yourselves ,us, or you.
  • The advising bank must advise a documentary credit, including all its details, in a way that is clear and unambiguous to the beneficiary.





MT 700 Usage Rules