You should understand that letter of credit samples would not be a magic formula to solve your letter of credit problems.
Letter of credit is a huge area with a very dynamic environment. Our samples would not be covering your specific needs, but giving a broad sense of understanding how letters of credit work in a real life situation.
Working with letter of credit samples is not an easy. Let me explain you why.
First of all, letter of credit terms may change from country to country.
As import procedures are changing from one country to another, banks are modifying letter of credit texts in order to keep up with the import regulations.
Secondly, conditions and requested documents may vary from sector to sector.
For example a letter of credit for food sector is substantially different from a letter of credit opened for oil industry.
Thirdly, banks may demand significantly different set of documents from the exporters that need to be completed according to varying letter of credit terms.
…each letter of credit is unique and must be handled accordingly.
Finally, in some cases banks delete or change one or more articles of UCP 600 when they issue letters of credit.
All of these explanations show us that each letter of credit is unique and must be handled accordingly.
But, why we are publishing letter of credit samples on our web site? What is the purpose?
Followers of my web site should understand that letter of credit samples would not be a magic formula to solve their letter of credit problems.
Letter of credit is a huge area with a very dynamic environment. My samples would not be covering your specific need but giving a broad sense of understanding how letters of credit work in a real life situation.
The reasons why I am publishing letter of credit samples in my website is that;
- Giving a broad sense of understanding to my readers how letters of credit work in a real life situation.
- Explaining key aspects of letters of credit topics on the given samples.
- Understanding how to read letter of credit text in a swift format.
- Learning important points in swift messages.
- Understanding documents which are most frequently asked by the banks under letter of credit transactions.
Are samples that are given on our web site genuine, that have been taken from real life situations?
Our web site’s founder Ozgur Eker is a certified documentary credit specialist and has been giving consultancy services for more than 10 years on this area.
All the samples are taken from his past work experience.
Please keep in mind that we have modified almost all of the fields on a specific letter of credit transaction including but not limited to description of goods, port of loading, availability of the credit etc.. in order to protect privacy of the parties of the real life transaction.
Before starting to work with letter of credit samples please make sure that you read “Sample Letters of Credit – Part II – Guidelines : How to read sample letter of credit texts on our web site”