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  • ICF - Basic Letter of Credit

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    Anil Kardam
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    Concepts on International finance

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    ICF_Basic Letter of Credit

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    Concepts on International finance

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    7 views2 pages

    ICF - Basic Letter of Credit

    Uploaded by

    Anil Kardam
    Concepts on International finance

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 2

    Mandevin

    Bank

    Ltd

    Date: ........
    L/C No : MBL 123456

    Mandevin Bank Ltd hereby issues this irrevocable documentary Letter of Credit to M/s
    Tom Dick & Harry Ltd for USD 1,000,000, payable 90 days after sight by a draft drawn
    against Mandevin Bank Ltd in accordance with Letter of Credit number MBL123456
    The draft is to be accompanied by the following documents:
    1.

    Commercial Invoice in triplicate

    2.

    Packing List

    3.

    Clean on board Bill of Lading

    At maturity Mandevin Bank Ltd will pay the face amount of the draft to the bearer of
    that draft.
    Authorized Signatory

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