Novices do foreign trade, ask for letter of credit samples, both Chinese and English, comparison!

Go to your issuing bank, he will give you a sample, make some adjustments according to your requirements, and then confirm it with the issuing bank.

Rest assured, the bank's people will be very helpful, but we must also understand the terms and conditions.

The letter of credit is not written casually, if you want to open a letter of credit, your issuing bank will naturally provide you with a sample format.

1. The L/C has expired, one month after the L/C expires, the bank will cancel the L/C, if the number of days after the expiration date is not long, the bank will accept the order, provided that you communicate well with the buyer, the buyer can accept the L/C expiration and late delivery of the L/C (the L/C expires and the deadline for submission must also be expired) and other discrepancies. If the buyer does not accept these discrepancies, then you will not agree to pay after you have handed over the order.

2. Regarding the issuance of L/C, after the contract for the sale of goods is reached, when the two parties agree to use L/C as the payment method, the time limit for issuing L/C can be agreed in the contract, and the buyer shall open L/C on time in accordance with the provisions of the contract, and if the contract does not stipulate the time for the buyer to open L/C, the L/C shall be issued within a reasonable time.

1。Once the letter of credit has expired, the negotiating bank will refuse to accept the documents. At this time, you must seek the opinion of the issuing applicant, as long as the issuing applicant agrees to accept the documents, the issuing bank will generally make the payment.

2。According to the convention, the importer should be able to issue a letter of credit after signing the contract, of course, this requires the buyer and the seller to stipulate a specific time limit for issuing the letter when signing the contract, and cannot delay the issuance of the letter indefinitely. It can be agreed that after signing the contract, the certificate must be issued within 10 days, otherwise the contract will be invalid.

1.After the expiration date of the letter of credit, it is a piece of waste paper, which is useless.

2.The time for the importer to open the L/C is generally after the contract is signed, plus the time for the exporter to prepare the goods, and the goods arrive at the exporter before they are shipped, which is generally stipulated in the contract.

1.If the L/C has expired but has not been cancelled, there are only substantive discrepancies in the documents submitted, and the issuing bank has the right to refuse to pay. However, as long as the importer agrees to pay, the issuing bank will not refuse to pay.

2.When the importer opens the letter of credit generally depends on the communication agreement between the buyer and the seller, because the importer is required to pay a certain deposit, so it will generally be opened after the seller's source of goods is determined, which will not affect the financing of funds.