.
Standby Letter of Credit Sample in Swift Format

















****SWIFT AUTH. CORRECT****
Bcode:00980
BIC : CDCSUS33ENJ – CDCS BANK , N.A.
Transfer Date/Time : 2012-08-10-09.30.53.197333
Type: 700  Pri. :02
ISSUE OF A DOCUMENTARY CREDIT
*****MESSAGE*****
MESSAGE BODY
27: Sequence of Total  
1/1  
40A: Form of Documentary Credit  
IRREVOCABLE STANDBY 
20: Documentary Credit Number  
DC46492  
31C: Date of Issue/Transfer of The Credit  
120824  
40E: Applicable Rules  
UCP LATEST VERSION  
31D: Date and Place of Expiry  
130610 AT OUR COUNTERS  
50: Applicant  
NORTH AMERICAN IMPORTER OF BEVERAGES INC.
 3775 PARKINSON STREET, UNIT 25  
 EDISON AND TESLA, NJ 08000 USA  
59: Beneficiary  
ITALIAN COLD BUT HOT DRINKS SRL. 
INDUSTRIAL AREA
39000
MILAN – ITALY   
32B: Currency Code / Amount  
USD400000,  
39A: Percentage Credit Amount Tolerance  
10/10
41D: Available With ... By ...  
CDCS BANK, National Association 
BY PAYMENT  
42C: Drafts at..  
SIGHT  
42D: Drawee  
CDCS BANK, National Association 
47A: Additional Conditions  
KINDLY FORWARD TO YOUR BRANCH : MILAN COMMERCIAL BRANCH ITALY BENEFICIARY’S COMPLETE NAME AND ADDRESS: ITALIAN COLD BUT HOT DRINKS SRL.INDUSTRIAL AREA 39000 MILAN – ITALY 

WE HEREBY ESTABLISH OUR IRREVOCABLE STANBY LETTER OF CREDIT NO 18117915-00-000 IN FAVOR OF BENEFICIARY FOR THE ACCOUNT OF  NORTH AMERICAN IMPORTER OF BEVERAGES INC.IN AN AMOUNT NOT TO EXCEED USD500.000,00(FIVE HUNDRED THOUSAND AND 00/100 US DOLLARS)PLUS OR MINUS TEN PERCENT, AVAILABLE FOR PAYMENT AT OUR COUNTERS AT 200 SECOND AVENUE, 3RD FLOOR, BANKING HEAD QUARTER BUILDING PITTSBURGH USA AVAILABLE BY BENEFICIARY’S SIGHT DRAFT DRAWN ON CDCS BANK , NATIONAL ASSOCIATION, ACCOMPANIED BY BENEFICIARY’S STATEMENT AS FOLLOWS :
“I (INSERT NAME AND TITLE)CERTIFIED THAT I AM AN AUTHORIZED REPRESENTATIVE OF ITALIAN COLD BUT HOT DRINKS SRL. AND HEREBY DEMAND PAYMENT OF USD (INSERT AMOUNT) UNDER CDCS BANK , NATIONAL ASSOCIATION LETTER OF CREDIT NO 18117915-00-000. I FURTHER CERTIFY THAT THE AMOUNT OF OUR DEMAND REPRESENTS THE AMOUNT DUE US AS A RESULT OF THE FAILURE OF NORTH AMERICAN IMPORTER OF BEVERAGES INC. TO PERFORM IN ACCORDANCE WITH CONTRACT ORGANIC FOODS SALES PROGRAMME 2012-2014 FROM MILAN ITALY TO NEW JERSEY USA.
DRAFTS DRAWN UNDER THIS LETTER OF CREDIT MUST BE MARKED : “DRAWN UNDER CDCS BANK, NATIONAL ASSOCIATION, STANDBY LETTER OF CREDIT NO : 18117915-00-000 DATED 12.AUGUST.2012.

PARTIAL DRAWINGS ARE PERMITTED.

THIS LETTER OF CREDIT WILL EXPIRE AT OUR COUNTERS 200 SECOND AVENUE, 3RD FLOOR, BANKING HEAD QUARTER BUILDING PITTSBURGH USA ON MAY 01.2013 AT 5.00 PM EASTERN TIME.

THIS CREDIT IS SUBJECT TO THE UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS (2007 VERSION) INTERNATIONAL CHAMBER OF COMMERCE PUBLICATION NO 600.           

WE HEREBY ENGAGE WITH YOU THAT DRAWINGS PRESENTED UNDER AND IN ACCORDANCE WITH THE TERMS AND CONDITIONS OF THIS CREDIT WILL BE DULY HONORED.

71 B : Charges and Fees
OTHER THAN THE ISSUING BANKS ARE FOR THE ACCOUNT OF THE BENEFICIARY. ISSUING BANK’S CHARGES ARE FOR THE ACCOUNT OF THE APPLICANT.
49 : Confirmation Instructions
Without

SAC

***End of Message***  


















letterofcredit.biz is your gateway to International Trade Finance World designed & developed by a Certified Documentary Credit Specialist.
I would like to share a standby letter of credit sample in swift format. Recently I have explanined the reason why I have started to put sample letters of credit on my website. Please read my previous article titled "Sample Letters of Credit - Part I" "Introduction to working with a letter of credit sample" to understand pros and cons of lc samples. Also I highly recommend you to read "Sample Letters of Credit - Part II" - "Guidelines How to read sample letter of credit texts on my web site?" before starting to study my standby letter of credit sample.


Letter of Credit | About Us | Our Services | Contact | CDCS | Certified Documentary Credit Specialist |© 2009-2010 Letter of Credit Consultancy Services. All rights reserved. Best view with 1024 X 768 resolution. Privacy Policy |
Hi, my name is "Ozgur Eker" (CDCS). You can connect with me either via my contact form or Google Plus.

  • 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