When you want to use a letter of credit, you must clearly understand the types of letters of credit, but if you want to do a good job of letters of credit, only understand the types of letters of credit is far from enough, you must also clearly understand the various operating procedures of letters of credit。
This article mainly includes the following processes: signing a trade contract, applying for a L/C, applying for a L/C, notifying L/C, this article will introduce these processes in detail for you。
Signing a trade contract, in the process of L/C operation, we must first sign a foreign trade contract。It should be noted in this step that the parties shall specify the form of the letter of credit to facilitate the following steps。
Generally speaking, a foreign trade contract should include the following clauses:
I. General provisions。
2. Product name and specification。
3. Origin and producer of the goods。
Fourth, commodity property rights and patents。
V. Time of shipment。
6. Loading port。
7. Arrival at port。
Viii. Payment Terms (This clause shall specify the type of credit)。
Ix. Packing regulations。
10. Freight terms。
Advise shipment。
Xii. Insurance conditions。
Xiii. Check the terms。
Xiv. Claim Clause。
Provisions on breach of contract and breach of contract。
Xvi. Arbitration
Force Majeure
18. Additional conditions。
When a trade contract is concluded, it is not only necessary to see whether the amount is fully in place, but also the specific content of each clause。Signing is a big deal and must be taken seriously。
After signing a trade contract, the importer must find a local bank with a good reputation to apply for a credit card within the time limit stipulated in the contract。Generally speaking, European and American countries need 5 people to apply for the opening of the card, ten days of work。If in our country, probably within 5 working days, as soon as the day can even get a certificate。
Import enterprises must do a good job of issuing guarantee before applying to the bank, which mainly includes the following aspects。
1. Time limit and repayment obligation of the applicant。
2. The applicant agrees that the issuing bank is exempt from its liability。
Title to the goods shall be vested in the issuing bank until payment is made。
If the applicant fails to make payment within the prescribed time limit, the issuing bank shall be entitled to dispose of the goods to compensate the amount under the credit。
5. The Issuer warrants that all payment shall be made by the issuer。
The applicant shall issue the credit in strict accordance with the Uniform Customs and Practices for Documentary Credits。
The invoicing process is divided into five steps:
1. Fill in a copy of the business license;
2. Copy of the record contract。
3. Payment of opening deposit。
4. Pay the opening fee。
5. Fill in the import payment verification form。
开征：
The third step in the operation process is to issue the card。When opening a L/C, a foreign trade company needs to do the following:
When applying for a credit card, the importing company shall submit a copy of the relevant contract to the bank。For example, import license, department approval document, company business license, import quota certificate and so on。
The application should be submitted in triplicate to the company's business department, the company's finance department and the issuing bank。When importing companies apply to banks for a letter of credit, they must submit an application。
According to the practice of foreign trade industry, when the import company opens a letter of credit, it is required to provide a deposit to the issuing bank。The amount depends on the credit standing of the importing enterprise。If the credit is good, the margin will be lower。The bank will issue the letter of credit to the importing company only after the deposit has been paid。
The last step in the letter of credit operation process is the notification, that is, the issuing bank issues a notice to the foreign trade company。After receiving the notice, the foreign trade company may carry out the following work。
1. Examine letters of credit, ship the goods and issue documents for the goods。
2. Invoice。
3. The bank of the export company examines the documents, advances the payment for goods or makes the payment directly。
The issuing bank issues a redemption notice to the company applying for the letter of credit。
The importer takes delivery of the goods。After the importer mentions all the goods, even if the L/C process is completely completed, the trade cooperation between the import and export parties has been reached。
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