Application LC midterm assignment international payment

THE SOCIALIST REPUBLIC OF
VIETNAM
Independence – Freedom Happiness

COASTAL FISHERIES
DEVELOPMENT
CORPORATION

APPLICATION FOR ISSUANCE OF LETTER OF CREDIT
Please tick to appropriate check box

To: …………………
With all our obligations we hereby request the bank for the issuance of the Irrevocable Letter of credit f
CIF number:
Name and address of Applicant:

SM TRADING
ADD: 59 SEONGMO-RO 16 BEON-GIL, YANGCHON-EUP, GIMPO-SI, GYEONGGI-DO, KORE

Date and place of expiry:

160715 in KOREA
Payment term:
()

For:

[ X ] Sight

[ ] .......

[ ] ....... days after shipment date
[ X ] 100PCT invoice value
[ ] 80PCT invoice value

Credit available with:

[ X ] Any bank
[ ] Confirming bank

days after sight

[ ] Other: .........................
[ ] 90PCT invoice value
[ ] Other
[ ] Advising bank
[ ] Other bank: …
(Please specify)

Trade term:

[ X ] FOB
[ ] CFR
Place: HOCHIMINH PORT

[ ] CIF/CIP

Partial shipment:
[ ] Permited
[X] Prohibited
Place of Receipt:

Port of Loading: HO CHI MINH PORT, VIET NAM
Latest date of shipment: ??

[ ] DAF
[ ] Other: ...
[ ] Incoterms 2000
[ X ] Incoterms 2010


Description of goods:

+ COMMODITY : Vannamei Breaded PTO Shrimp (12GR/PCF X 30/TRAY X 20/CTN)
+ QUANTITY : ABT 600 CTNs (10% more or less allowed)
+ UNIT PRICE : 6.3 USD/Kg FOB HCMC, VIETNAM
+ TRADE TERMS : FOB HCMC, VIETNAM
(INCOTERMS 2010)
+ TOTAL AMOUNT (USD) : ABT 27,216.00 USD (10% more or less allowed)
+ ORIGIN : Ho Chi Minh, Vietnam
+ PACKING: EXPORT STANDARD
+ SHIPPING MARK:
Vannamei Breaded PTO Shrimp
Brandname:
Roll No:
Date:
Roll width:
Roll length:
Origin: Vietnam
Manufacturer:
Importer:

Documents required:
1. SIGNED COMMERCIAL INVOICE IN TRIPLICATE.
2. FULL SET (3/3) OF ORIGINAL CLEAN ‘SHIPPED ON BOARD’ BILL OF LADING MADE OUT TO ORDER
3. DETAILED PACKING LIST IN TRIPLICATE. (SIGNED DETAILED PACKING LIST SHOWING NET WEIGHT
4. CERTIFICATE OF ORIGIN ISSUED BY THE CHAMBER OF COMMERCE OF KOREA IN TRIPLICATE.
5. FULL SET OF INSURANCE POLICY OR CERTIFICATE IN ASSIGNABLE FORM AND ENDORSED IN BLAN
6. CERTIFICATE OF QUALITY AND QUANTITY ISSUED BY BENEFICIARY OR MANUFACTURER IN TRIPLIC


Additional conditions:
1. All required documents must be issued in english.
2. This credit is subject to uniform customs and practice for documentary credits 2007 revision, inte
3. If documents presented under this l/c are found to be discrepant, we shall give notice of refusal a
4. A discrepance fee of usd50.00 should be deducted from the proceeds for all documents negotiat
5. One extra copy of all documents is required for issuing bank’s file. if such copies are not submitt
6. All required documents should indicate this credit number, date of issue, issuing bank.
7. Please collect your advising charges before releasing lc.

Charges: ALL BANKING CHARGES OUTSIDE VIETNAM INCLUDING REIMBURSING BANK CHARGES, CONFIR

Confirmation instruction:

[ X ] Without

[ ] Confirm

[ ] Mayadd

Confirming Bank:. ……………………..
Confirmation fees are for:

[ X ] Beneficiary's account
[ ] Applicant's account
TT reimbursement:

[ X ] Not allowed

[ ] Allowed ……………working days

In consideration of the issuing the above Credit substantially conforming with
our request, we hereby agree as follows:
1.
This letter of credit is opened under Contract No. 092/2015 XK-CF/SM dated AUG
20 2015.
2.
We hereby declare that the transaction covered under this credit complies with
current Regulations on Import and Export and with current Foreign Exchange
Management Act under the law of Vietnam.
3.
This letter of credit is subject to “ICC Uniform Customs and Practice for
Documentary Credits” in effect at time of issuance.
4.
In case the advising charge, confirming charge (if any) and other charges (if any)
are not collected from the beneficiary by the advising bank or confirming bank, we would
make payment for these charges.
5.
Source of funds:
We hereby authorize you to debit our account at your bank:
Số: 100% số tiền: $27,216.00 để ký quỹ mở thư tín dụng này.

[ ] Số: ..................................... số tiền: ................................. để

thanh toán thư tín dụng này.
[ ]
số: .......................................... để thanh toán thư tín dụng này.
[ ] Other:
6.
We hereby commit to remit full proceeds in a timely manner for full settlements
plus charges. In case we fail to do so, we unconditionally and irrevocably accept a
compulsory trade loan from you. We undertake to pay principal plus interest incurred
thereof.
7.
In case we take a compulsory trade loan from ourbank, we voluntarily concede
the possession of goods to our bank. If we fail to pay all debt incurred thereof within 10
days from the date of involuntary payment, our bank is entitled to sell the shipment in


question, dispose any security, deposit or mortgage or take any other measures to take
back the loan.
For further information, please contact with Mr/Ms:
Tel No.:
Fax:

Ho Chi Minh City, (date)

2016.
Chief Accountant

Director/Manager

Phạm Ngọc Thái

Received by BIDV on 25 May 2016
Name and Signature

(month)