Mandatory informations
What elements must imperatively be included in the opening of a documentary credit?
Names and addresses :
- Of the applicant
- Of the beneficiary
- Of advising bank
- If need be, of the confirming bank
- Amount of the credit
- Description of the goods
- List of documents
- Terms and conditions of sale
- Validity
As well as :
General information
What is the main information needed to open a documentary credit ?
- Credit references
- Form of credit
- Amount
- Validity
- Beneficiary
- Applicant
- Description of goods
- List of documents to be provided
- Shipping deadline
- Submission deadline
- Terms and conditions of sale (Incoterms)
- Forms of payment (on demand / within x days /
upon acceptance / deferred / to be negotiated)
- Partial shipments
- Transhipment
- Bank commitment (confirmed or not)
- Advising bank (intermediary bank)
- Fees
- Bank-related instructions (terms of reimbursement, document submission)