.
Sample Letters of Credit - Part II - Guidelines

Introduction to working with a letter of credit sample. 
















  1. You should understand the form of documentary credit. In order to do that you should look at field 40A : Form of Documentary Credit on the swift message.
  2. You should find out the applicant of the documentary credit. Please look at field 50 : Applicant on the swift message.
  3. You should find out the beneficiary of the documentary credit. Please look at field 59 : Beneficiary - Name & Address on the swift message.
  4. You should find out the applicable rules of the documentary credit. Please look at field 40E : Applicable Rules on the swift message.
  5. You should find out the date of issue of the documentary credit. Please look at field 31C : Date of Issue on the swift message.
  6. You should find out the date and place of expiry of the documentary credit. Please look at field 31D : Date and Place of Expiry on the swift message.
  7. You should find out the currency code and amount of the documentary credit. Please look at field 32B : Currency Code, Amount on the swift message.
  8. You should find out whether letter of credit allows any tolerance level or not. Please look at field 39B : Maximum Credit Amount on the swift message.
  9. You should find out the payment terms of the documentary credit as well as by whose counters letter of credit is payable. Please look at field 41A : Available With...By... on the swift message.
  10. You should find out whether partial shipments and transhipments are allowed or not on the documentary credit. Please look at field 41P : Partial Shipments and field 43T : Transhipment on the swift message.
  11. You should find out port of loading and port of discharge of the documentary credit. Please look at field 44E : Port of Loading and field 44F : Port of Discharge on the swift message.
  12. You should find out the latest date of shipment of the documentary credit. Please look at field 44C : Latest Date of Shipment on the swift message.
  13. You should find out how goods and services are defined on the documentary credit. Please look at field 45A : Description of Goods &/or Services on the swift message.
  14. You should find out which documents are required under the documentary credit. Please look at field 46A : Documents Required on the swift message.
  15. You should find out what kind of additional conditions are stated on the documentary credit. Please look at field 47A : Additional Conditions on the swift message.
  16. You should find out which party is responsible for the charges of the documentary credit. Please look at field 71B : Charges on the swift message.
  17. You should find out period for presentation of the documents required under the documentary credit. Please look at field 48 : Period for Presentation on the swift message.
  18. You should find out whether the documentary credit is confirmed or not. Please look at field 49 : Confirmation Instructions on the swift message.
  19. You should find out whether any reimbursing bank defined under the documentary credit or not. Please look at field 53A : Reimbursing Bank - BIC on the swift message.
  20. You should find out what sort of instructions given by the issuing bank to the Paying/Accepting/Negotiating Bank under the documentary credit. Please look at field 78 : Instructions to Paying/Accepting/Negotiating Bank on the swift message.
  21. You should find out the advising bank of the documentary credit. Please look at field 57D : `Advise Through` Bank -Name&Address on the swift message.





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How to read sample letter of credit texts on my web site?

You should understand how to read a letter of credit sample. On this page you can find detailed explanation of each field of a letter of credit issued in a swift format.



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