Is it necessary to open a letter of credit from a domestic bank in China for iron ore imports?

Chapter II Issuance and Notice.

Article 9 Application for issuance.

When the applicant uses the L/C, he or she shall entrust the bank with which the L/C holds an account to handle the issuance business.

When applying for the issuance of the certificate, the applicant shall fill in the application form for issuance and the application for letter of credit.

Letter of commitment and submit the relevant purchase and sale contract. The matters recorded in the application for issuance and the letter of commitment shall be complete and clear, and shall be signed and sealed by the applicant. The signature should be consistent with that of the reserved bank.

The letter of application and the letter of commitment are the basis for the issuing bank to open the letter of credit to the beneficiary.

A contractual document between the securities bank and the applicant that clarifies their respective rights and responsibilities.

Article 10 Acceptance and issuance.

The issuing bank shall submit the letter of application for issuance, the letter of commitment of the applicant for the letter of credit and the purchase and sale contract submitted by the applicant.

It is also decided whether to accept the issuance business. When the issuing bank decides to accept the business, it shall collect it from the applicant.

Take a deposit of not less than 20 of the issuance amount, and can be required to provide it according to the applicant's credit status.

Mortgage, pledge or letter of guarantee issued by other financial institutions.

When opening a L/C, the issuing bank shall charge the applicant the issuance fee and postal and telecommunications charges in accordance with the regulations.

Article 11 Basic terms of L/C.

The letter of credit shall include the following clauses:

1) The name and address of the issuing bank.

2) Date of issuance.

3) Letter of credit number.

4) Irrevocable and non-transferable letters of credit.

5) The name and address of the applicant.

6) The name and address of the beneficiary. The beneficiary is the person who is entitled to receive payment from the letter of credit, generally.

It is the supplier of the purchase and sale contract.

7) The name of the notification line. The notifying bank is entrusted by the issuing bank to notify the beneficiary of the bank of the letter of credit.

Yes. 8) The validity period and validity of the letter of credit. The letter of credit is valid for the beneficiary to submit to the bank.

The latest period of the documents shall not exceed 6 months; The place of validity of the letter of credit is specified in the letter of credit.

The place where the documents are submitted, i.e., the location of the negotiating bank or the issuing bank.

9) Submission period. The delivery period is after the shipment of the goods indicated in the letter of credit on which the transport documents are submitted.

A specific date on which the document must be delivered. If this period is not specified, the bank will not accept pick-up later than 15 days after the date of shipment.

Documents submitted. 10) The amount of the letter of credit.

xi) Payment method, spot payment, deferred payment or negotiation. Deferred payment of L/C.

The payment term is regular payment after the date of shipment of the goods, and the maximum payment shall not exceed 6 months. Negotiate the letter of credit shall.

In this clause, the beneficiary is designated as the negotiating bank and authorizes it to negotiate.

It is impossible for you to import, otherwise what do you want Minmetals to do, now foreign iron ore is basically a monopoly of giants, many large steel mills in China must be its members to be able to get the agreed price, if it is low and so good to import, it takes so long to negotiate with foreign countriesRemind me that a lot of foreign trade iron ore is **.

Do you have import qualifications?At present, there are less than 200 qualified companies in China

There is no such provision in the international **.

Legal analysis: The import of iron ore needs to apply for an import license, and the process is as follows: 1. Sign an import contract and apply for an automatic import license in advance2. Arrange delivery abroad and pre-audit documents3. After the goods arrive at the port, our company arranges the work of document replacement, customs declaration and inspection4. Customs review and issue tax bills, pay taxes and release them;5. Arrange the trailer to enter the commodity inspection and filing warehouse, and make an appointment for sampling and testing6. Reach the inspection standard, pick up the goods, settle the fee, and arrange trailer delivery to the door.

Legal basis: Article 14 of the Hainan Free Port Law of the People's Republic of China When goods enter other parts of the territory (hereinafter referred to as the Mainland) from Hainan Free Port, in principle, the relevant formalities shall be handled in accordance with the import regulations. Goods enter the mainland from the Hainan Free ** Port and are subject to supervision in accordance with regulations.

Simplify import management for the means of transport from Hainan Free Port to the mainland. Goods, articles and means of transport entering Hainan Free Port from the mainland shall be managed in accordance with the regulations on domestic circulation. The specific measures for the entry and exit of goods, articles and means of transport between the Hainan Free Port and the mainland shall be formulated by the relevant departments in conjunction with Hainan Province.

An import licence is required.

In 2014, iron ore importers in Ma'anshan can apply for an automatic iron ore import license in Ma'anshan. As of March 18, Ma'anshan City has issued automatic import licenses for four iron ore imports from the two companies, totaling 10,000 tons worth US$3.74 million.

The import license is an administrative procedure adopted in our country, which requires the importer to submit an application or other documents to the relevant administrative authority as a prerequisite for the import of goods into the customs border. That is, the importer must import goods with an import license, otherwise they will not be imported**.

In 2013, Ma'anshan City became the first automatic printing terminal city in the country for the import license issuance system, which provided great convenience for Ma'anshan waste paper import enterprises. In order to give full play to the certification function of the automatic import license extension point in Ma'anshan City, the Municipal Bureau of Commerce has been in close contact with the Provincial Department of Commerce and the Licensing Bureau of the Ministry of Commerce.

It is hoped that the authority to issue the automatic import license of iron ore will be delegated to Ma'anshan City to better serve the iron ore enterprises in Ma'anshan City. After many docking and commissioning, the Licensing Bureau of the Ministry of Commerce finally agreed that Ma'anshan iron ore enterprises should apply for licenses at the Municipal Bureau of Commerce.

Procedures required for importing iron ore: 1. Sign the import contract and apply for the automatic import license in advance; 2. Arrange delivery abroad and pre-audit documents3. After the goods arrive at the port, arrange the work of changing documents, customs declaration and inspection; 4. Customs review and issue tax bills, pay taxes and release them;5. Arrange the trailer to enter the commodity inspection and filing warehouse, and make an appointment for sampling and testing6. Reach the inspection standard, pick up the goods, settle the fee, and arrange trailer delivery to the door.

Does ilmenite require an import license.

An import license is required for ilmenite. Ilmenite import enterprises shall, in accordance with the relevant provisions of the state, be registered with the administrative department for industry and commerce, obtain import and export business qualifications or handle the filing and registration of foreign business operators, and have independent legal person qualifications; The product quality has reached the current national standards, and has obtained ISO quality certification.

What are the procedures for importing wild animals?

Procedures required for the import of wild animals: 1. The applicant shall submit an application to the National Endangered Species Management Office or its designated office; 2. The National Endangered Species Management Office may solicit the opinions of the National Scientific Committee on Endangered Species as needed; 3. If the applicant passes the examination, the National Endangered Species Management Office or its designated office shall issue the Certificate of Permitted Import and Export of Wild Animals and Plants to the applicant.

Procedures required to import beef.

Procedures required for importing beef: 1. It is necessary to apply for an entry animal quarantine permit at the Entry Inspection and Quarantine Bureau; 2. Commodity inspection and filing at import ports; 3. The domestic consignee also needs to have an automatic import license approved by the Ministry of Commerce; 4. Sign a storage agreement with the meat cold storage designated by the state; 5. It is necessary to apply for a business license and a food business license, and it is within the business scope of the business license.

What is the model contract for the purchase and sale of iron ore?

The model iron ore purchase and sale contract is: first write the basic information of both parties, then write the name, specification, quantity, **, payment time, method, delivery time, place, liability for breach of contract, etc., and finally sign and sign the date of both parties.

What is the process required for signing an import** contract?

1.The process of signing an import contract is as follows: project application, inspection and demonstration, filling in the contract application form, drafting the contract text, contract negotiation, contract signing, contract performance, contract acceptance, and contract settlement.

2.Import contract refers to the agreement between the Chinese party in China and a foreign party outside China on our acceptance of imported goods and payment for the goods. The format of the import contract is generally prepared by us, in duplicate, and after being signed by us, it is submitted to the other party to sign back and keep it for future reference.