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|

Syafiqah Bt Saiful Islam

2010731509
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° | tt
s of c
it us  in int
national t
ansactions a

gov
n  by th Int
national Chamb
of Comm
c
Unifo
m Customs an P
actic fo
Docum nta
y C
its.
° Cont
actual ag
m nt b tw n a bank, known as th issuing
bank, on b half of on of its custom
s, autho
izing anoth

bank, known as th avising o
confi
ming bank, to mak
paym nt to th b n ficia
y.
° Th issuing bank, on th
qu st of its custom
, op ns th
l tt
of c
it.
° Th issuing bank mak s a commitm nt to hono

awings
ma un
th c
it.
° Th b n ficia
y is no
mally th p
ovi
of goos ano

s
vic s.
° Th issuing bank
plac s th bank's custom
as th pay .
 ÿ

 




°  paym nt un
taking giv n by a bank (issuing bank)
° On b half of a buy
(applicant)
° To pay a s ll
(b n ficia
y) fo
a giv n amount of
mon y
° On p
s ntation of sp cifi  ocum nts
p
s nting
th supply of goos
° Within sp cifi  tim limits
° Docum nts must confo
m to t
ms an conitions s t
out in th l tt
of c
it
° Docum nts to b p
s nt  at a sp cifi  plac
 @

 
° ÿntitl  to paym nt as long as h can p
ovi th ocum nta
y
vi nc
qui
 by th l tt
of c
it.
° Th l tt
of c
it is a istinct an s pa
at t
ansaction f
om th
cont
act on which it is bas .
° ll pa
ti s  al in ocum nts an not in goos.
° Th issuing bank is not liabl fo
p
fo
manc of th un
lying
cont
act b tw n th custom
an b n ficia
y.
° th issuing bank͛s obligation to th buy
, is to amin all
ocum nts to insu
that th y m t all th t
ms an conitions of
th c
it.
° Upon
qu sting  man fo
paym nt th b n ficia
y wa

ants that
all conitions of th ag
m nt hav b n compli  with.
° If th b n ficia
y (s ll
) confo
ms to th l tt
of c
it, th s ll

must b pai by th bank.
° i@ 
Th issuing bank's liability to pay an to b
imbu
s 
f
om its custom
b com s absolut upon th compl tion
of th t
ms an conitions of th l tt
of c
it.
°  @ 
Usually a fo
ign co

spon nt bank of th issuing bank
will avis th b n ficia
y. G n
ally, th b n ficia
y
woul want to us a local bank to insu
that th l tt
of
c
it is vali.
° @ 
Th co

spon nt bank may confi
m th l tt
of c
it
fo
th b n ficia
y. t th
qu st of th issuing bank, th
co

spon nt obligat s its lf to insu
paym nt un
th
l tt
of c
it. Th confi
ming bank woul not confi
m th
c
it until it valuat  th count
y an bank wh
th
l tt
of c
it o
iginat s. Th confi
ming bank is usually
th avising bank.
 |

 
  


° ·
  
| tt
s of c
it a
usually n gotiabl .
° Î
  
| tt
s of c
it may b ith

vocabl o
i

vocabl . 

vocabl l tt
of c
it may b
vok  o
moifi  fo
any

ason, at any tim by th issuing bank without notification.
° £ 
  

Th b n ficia
y has th
ight to t
ansf
o
assign th
ight to

aw, un
a c
it only wh n th c
it stat s that it is
t
ansf
abl o
assignabl .
°   £
 
ll l tt
s of c
it
qui
th b n ficia
y to p
s nt a 
aft an
sp cifi  ocum nts in o

to
c iv paym nt.

  


° 
 i

Th billing fo
th goos an s
vic s.
° @ 

 ocum nt vi ncing th
c ipt of goos fo
shipm nt an
issu  by a f
ight ca

i
ngag  in th busin ss of fo
wa
ing
o
t
anspo
ting goos.
° D  £

 wa

anty giv n by a s ll
to a buy
of goos that stat s that
th titl b ing conv y  is goo an that th t
ansf
is
ightful.
°


i

Sp cifically in mnifi s th pu
chas
against a c
tain stat 
ci
cumstanc . In mnification is g n
ally us  to gua
anty that
shipping ocum nts will b p
ovi  in goo o

wh n
availabl .
   
 


° | tt
of C
it has pi
 p
io
to p
s ntation of 
aft.
° Bill of |aing vi nc s  liv
y p
io
to o
aft
th at
ang
stat  in th c
it.
° Stal at  ocum nts.
° Chang s inclu  in th invoic not autho
iz  in th c
it.
° Inconsist nt  sc
iption of goos.
° Insu
anc ocum nt

o
s.
° Invoic amount not qual to 
aft amount.
° Po
ts of loaing an  stination not as sp cifi  in th c
it.
° D sc
iption of m
chanis is not as stat  in c
it.
°  ocum nt
qui
 by th c
it is not p
s nt .
° Docum nts a
inconsist nt as to g n
al info
mation such as
volum , quality, tc.
° Nam s of ocum nts not act as  sc
ib  in th c
it.
B n ficia
y info
mation must b act.
° Invoic o
stat m nt is not sign  as stipulat  in th l tt
of
c
it.
i   
 
 |

 
 
   
  

 

  

  
  

 
 


 
   
 

 

   
 


 
° Can b issu  ith
to a    
° Gov
n  by UCP 500 which is fo
mulat  by th i

 
    , acc pt  an
cognis  wo
lwi
° ü    fo
th |C is availabl if
qui

° lso availabl un
i   as Mu
abahahWakalah
| tt
of C
it-i
° Back  by ov
*   
 , a n two
k of ov
 


   an mo
than    
 

i   
 
 |

It is a ocum nt  w
itt n un
taking giv n by th

issuing bank to a b n ficia
ys ll
at th
qu st of th
applicantbuy
to pay a stat  sum of mon y against
stipulat  ocum nts an in complianc with th t
ms
an conitions within a p
sc
ib  tim limit. It is on of
th m thos of paym nt in int
national t
a . Th |C-i
may b issu  un
th cont
act of Wakalah o

Mu
abahah.
° 
 
Can b issu  ith
to a local o
fo
ign suppli

Gov
n  by UCP 600 which is fo
mulat  by th Int
national
Chamb
of Comm
c , acc pt  an
cogniz  wo
lwi
Ma
in Takaful fo
th |C-i is availabl if
qui