{"id":5884,"date":"2019-05-23T22:51:56","date_gmt":"2019-05-24T02:51:56","guid":{"rendered":"https:\/\/www.letterofcredit.biz\/?p=5884"},"modified":"2022-02-05T09:47:50","modified_gmt":"2022-02-05T14:47:50","slug":"libya-export-letter-of-credit-consultancy","status":"publish","type":"post","link":"https:\/\/www.letterofcredit.biz\/index.php\/2019\/05\/23\/libya-export-letter-of-credit-consultancy\/","title":{"rendered":"Libya Export Letter of Credit Consultancy"},"content":{"rendered":"<p><span style=\"color: #ff6600;\"><strong>Letter of Credit References:<\/strong><\/span><\/p>\n<p>We have completed our export letter of credit consultancy services with success in regards to a letter of credit which is issued by <a href=\"http:\/\/www.wahdabank.com.ly\/en\/\" target=\"_blank\" rel=\"noopener noreferrer\">Wahda Bank<\/a> on 28.March.2019.<\/p>\n<p>The letter of credit number was 114MIS.LC.49.075. Letter of credit issued in English language.<\/p>\n<p><a href=\"https:\/\/www.letterofcredit.biz\/index.php\/2018\/08\/18\/field-32b-currency-code-amount\/\">Total letter of credit amount<\/a> was USD 20.345,00. The <a href=\"https:\/\/www.letterofcredit.biz\/index.php\/2018\/08\/18\/field-59-beneficiary\/\">beneficiary<\/a> shipped goods in a single shipment for full letter of credit amount. <a href=\"https:\/\/www.letterofcredit.biz\/index.php\/2018\/06\/26\/what-is-a-partial-shipment\/\">Partial shipment <\/a>has not been utilized.<\/p>\n<p>Documents have been accepted by the <a href=\"https:\/\/www.letterofcredit.biz\/index.php\/2018\/05\/31\/issuing-bank\/\">issuing bank<\/a> on first presentation.<\/p>\n<p><a href=\"https:\/\/www.letterofcredit.biz\/wp-content\/uploads\/libya-export-letter-of-credit-consultancy.png\"><img decoding=\"async\" class=\"aligncenter size-full wp-image-5886\" src=\"https:\/\/www.letterofcredit.biz\/wp-content\/uploads\/libya-export-letter-of-credit-consultancy.png\" alt=\"\" width=\"640\" height=\"360\" srcset=\"https:\/\/www.letterofcredit.biz\/wp-content\/uploads\/libya-export-letter-of-credit-consultancy.png 640w, https:\/\/www.letterofcredit.biz\/wp-content\/uploads\/libya-export-letter-of-credit-consultancy-300x169.png 300w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/><\/a><\/p>\n<p><span style=\"color: #ff6600;\"><strong>Documents Required:<\/strong><\/span><\/p>\n<ul>\n<li>Bill of Lading Full Set<\/li>\n<li>Vessel Certificate 1 Original<\/li>\n<li>Commercial Invoice 4 Originals<\/li>\n<li>Certificate of Origin 1 Original, 1 Copy<\/li>\n<li>Packing List 4 Originals<\/li>\n<li>Pre-Shipment Inspection Certificate 1 Original, 2 Copies<\/li>\n<\/ul>\n<p><span style=\"color: #ff6600;\"><strong>Specific Conditions:<\/strong><\/span><\/p>\n<ul>\n<li>Libya has been dealing with political uncertainties for almost a decade and one of the highest risk possessing countries in the world.<\/li>\n<li>Libyan banks demand very high <a href=\"https:\/\/www.letterofcredit.biz\/index.php\/2018\/01\/25\/discrepancy-fee\/\">discrepancy fees<\/a> around 450-500 USD per presentation.<\/li>\n<li>All shipments directed to Libya is subject to a compulsory <a href=\"https:\/\/www.letterofcredit.biz\/index.php\/2018\/05\/05\/inspection-certificate\/\">pre-shipment inspection<\/a> from one of the authorized inspection companies.<\/li>\n<li>The letter of credit has been <a href=\"https:\/\/www.letterofcredit.biz\/index.php\/2018\/01\/22\/confirmation-and-confirmed-letter-of-credit\/\">confirmed <\/a>by a bank in beneficiary&#8217;s country.<\/li>\n<\/ul>\n<p><strong><span style=\"color: #ff6600;\">Our Work:<\/span><\/strong><\/p>\n<ul>\n<li>The exporter has supplied us the actual letter of credit.<\/li>\n<li>We have checked the letter of credit and changed the <a href=\"https:\/\/www.letterofcredit.biz\/index.php\/2018\/10\/25\/incoterms\/\">delivery term<\/a> from CIF to CFR and eliminating <a href=\"https:\/\/www.letterofcredit.biz\/index.php\/2018\/05\/07\/insurance-documents\/\">insurance policy<\/a> from the L\/C.<\/li>\n<li>Once the amendments have been received from the issuing bank, the beneficiary has started to the production and made the shipment.<\/li>\n<li>After the beneficiary supplied us the shipment details we have prepared the <a href=\"https:\/\/www.letterofcredit.biz\/index.php\/2018\/04\/20\/commercial-invoice\/\">commercial invoice<\/a> and <a href=\"https:\/\/www.letterofcredit.biz\/index.php\/2018\/05\/03\/packing-list-and-weight-list\/\">packing list<\/a>.<\/li>\n<li>We also completed the shipping instructions for the <a href=\"https:\/\/www.letterofcredit.biz\/index.php\/2018\/04\/02\/bill-of-lading\/\">bill of lading<\/a> document and filled out the draft version of certificate of origin.<\/li>\n<li>We also helped the beneficiary to complete <strong>Inspection Certificate Request Form<\/strong>.<\/li>\n<li>After shipment, the beneficiary has sent us all of the documents for final evaluation.<\/li>\n<li>The documents have been presented to the <a href=\"https:\/\/www.letterofcredit.biz\/index.php\/2018\/06\/02\/confirming-bank\/\">confirming bank<\/a>.<\/li>\n<li>Confirming bank found one discrepancy claiming that the inspection company indicated on the inspection certificate is not exactly matching the letter of credit.<\/li>\n<\/ul>\n<blockquote class=\"td_pull_quote td_pull_center\">\n<blockquote class=\"td_quote_box td_box_center\">\n<p style=\"text-align: left;\"><span style=\"color: #ff0000;\"><strong>Letter of Credit : Inspection Certificate Clause:<\/strong><\/span><\/p>\n<p style=\"text-align: left;\">Pre-shipment inspection certificate in one original and two copies dully issued and signed by <strong>Kfali for Inspection and Conformity<\/strong><\/p>\n<p style=\"text-align: left;\"><span style=\"color: #ff0000;\">Inspection Certificate Issued by:<\/span><\/p>\n<p style=\"text-align: left;\">Kfali Inspection Company<\/p>\n<\/blockquote>\n<\/blockquote>\n<ul>\n<li>Confirmation drops out and the documents have been dispatched to the issuing bank unconfirmed.<\/li>\n<li>At the same time an amendment request have been sent to the applicant regarding the issuer of the inspection certificate.<\/li>\n<\/ul>\n<p><strong><span style=\"color: #ff6600;\">Conclusion:<\/span><\/strong><\/p>\n<ul>\n<li>Documents have been accepted by the issuing bank on first presentation.<\/li>\n<li>The issuing bank deducted enormous discrepancy fee of USD 500 from the proceeds without indicating any discrepancy information.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Letter of Credit References: We have completed our export letter of credit consultancy services with success in regards to a letter of credit which is issued by Wahda Bank on 28.March.2019. The letter of credit number was 114MIS.LC.49.075. Letter of<\/p>\n","protected":false},"author":1,"featured_media":6723,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[391,511,504,519],"tags":[514,513,515,520],"class_list":["post-5884","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-export-letter-of-credit-consultancy","category-letter-of-credit-consultancy","category-libya","tag-export-letter-of-credit-consultancy","tag-letter-of-credit-consultancy","tag-letter-of-credit-consultancy-references","tag-libya-letter-of-credit-consultancy"],"_links":{"self":[{"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/posts\/5884","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/comments?post=5884"}],"version-history":[{"count":0,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/posts\/5884\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/media\/6723"}],"wp:attachment":[{"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/media?parent=5884"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/categories?post=5884"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/tags?post=5884"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}