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CDCS Supporting Documentation - in Basket 3

1. Basic Electronics Corporation is the applicant requesting a commercial documentary credit from Queens First Bank for $54,300 to purchase 100 LCD panel frames from Public Panel Company in Sydney, Australia. 2. The credit allows for deferred payment to be made by May 30, XXXX and requires shipment from Sydney by May 20, XXXX. 3. The required documents include a signed commercial invoice, packing list, bill of lading, insurance policy, certificate of analysis, and certificate of origin.

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238 views2 pages

CDCS Supporting Documentation - in Basket 3

1. Basic Electronics Corporation is the applicant requesting a commercial documentary credit from Queens First Bank for $54,300 to purchase 100 LCD panel frames from Public Panel Company in Sydney, Australia. 2. The credit allows for deferred payment to be made by May 30, XXXX and requires shipment from Sydney by May 20, XXXX. 3. The required documents include a signed commercial invoice, packing list, bill of lading, insurance policy, certificate of analysis, and certificate of origin.

Uploaded by

sreeks456
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Section B Supporting

Documentation
In-Basket 3

In-Basket 3 should be referred to when answering Questions 101 105.

Introduction
The attached documentary credit application was delivered to the opening bank today, 15 March
XXXX.

Assumptions
1.

This is the final draft of the application. No revision will be permitted to the application.

Documents Presented
1.

Documentary credit application

APPLICATION FOR COMMERCIAL DOCUMENTARY CREDIT


TO :

Queens First Bank

[ ] by airmail

Date :

March 15, XXXX

[x] by full cable only

Applicant :

Advising Bank :

Basic Electronics Corporation

Ocean Bank

123 Main Street

Sydney, Australia

New York, NY 10001


Beneficiary :

Currency & Amount :

Public Panel Company

US$ 54,300.00

456 Second Avenue

(Fifty Four Thousand Three Hundred US Dollars)

Sydney, Australia

Tolerance :

Available by

[ ] at sight

[ ] acceptance

[x] Deferred payment

[ ] negotiation

Expiration Date & Place :

Latest shipment Date :

May 30, XXXX

May 20, XXXX

Australia

Shipment From :

Shipment To :

Partial Shipment :

Transhipment :

Sydney

New York

Not Allowed

Not Allowed

Transferable

[x] Yes

[ ] No

Description of Goods :

Transferring Bank : Ocean Bank, Sydney, Australia


100 LCD Panel Frames
Price and Delivery Terms: FOB Sydney INCOTERMS 2010

Documents required :
[x] Signed commercial invoice in triplicate
[x] Packing list in triplicate
[x] 2/3 set of ocean bill of lading made out to order of shipper and marked "freight prepaid" and
notify applicant.
[x] Full set of insurance policy endorsed in blank for 110 percent of invoice value with claims payable in USA
covering the institute cargo clauses: ICC(A)
[x] Certificate of Analysis in triplicate issued by independent lab
[x] Certificate of origin in triplicate
Additional conditions:
[x] 1/3 set of Ocean Bill of Lading should be sent directly to applicant by courier
[x] 3 percent more or less in amount and quantity allowed
Period for presentation : Documents to be presented within 15 days after shipment date
Charges : All banking charges outside of USA and reimbursement charges are for account of beneficiary
We hereby certify that transactions in the merchandise covered by this application are not prohibited in every respect with
all existing Government regulations.

Applicant

Authorized signature

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