S.W.I.F.T. Telex Field Definitions
Numb SWIFT Field 700/701 Definitions
SWIFT Field Explanation
Issue Of Doc Credit
Type of transmission
Doc Credit Number
Credit number assigned by the issuing bank
Reference Top Pre-A
403 term test 2
1. The application of the concept of payment for non-performance is the bedrock of the standby
credit. Elaborate the concept and discuss the main characteristics of standby credits.
Standby L/Cis issued to support payment, when due or afte
E-FORM 1000 (12/2010)
Guidelines for Completion of
Application and Agreement
HERE'S HOW TO COMPLETE THE APPLICATION AND AGREEMENT
a) if beneficiary requests credit to be transferable
transferable: if you all
Payment methods in International Trade
Meaning: Payment method means the way in which the buyer is paying the seller for the
goods or services purchased. Payment method (also known as payment terms, terms of
payment) can be an important part
Incoterms - 2010
By Simon Varughese for ITA 403
The Incoterms rules describe
mainly Master subtitle costs and risks
Click to editthe tasks, style
involved in the delivery of goods
from sellers to buyers.
Rules for any mode or mod
New West Tools
Buyer _Lucky Trg, HKG_ Sales Contract #_NWT/LT-110105_ Sales Order #_NA_
L/C# _HSBCHK-2345678_ Issuing Bank _HSBC,HKG_ Adv.Bank_UBC, NY_
1. Is the L/C authenticated by Advising Bank?
2. Does the L/C comply with UCP 600?
Week- 7 (Chapter- 3)
Export Documentation Preparation and Presentation.
Once the exporter is satisfied with the terms and conditions of the credit (often after one or
more amendments to the L/C), the next step is shipping the goods,
Types of Credits
Confirmed and unconfirmed
Clean and documentary credits.
Straight credits (Direct credits)
Freely negotiable credits
An irrevocable credit is one which cannot
THE ADVICE AND THE LETER OF CREDIT
Advice of the credit means a formal notification by the advising bank to the beneficiary that the
credit is now available. Advice of a letter of credit is only an advice. It does not commit the
advising bank to any actio
Special Types of Credits
Special credits are variations on the traditional or customary documentary
commercial letters of credit. Under special credits we will discuss
1) Standby letters of credit
3) Transferable Letters of Credit
5) Assignment of proceed
Standby Letters of Credit
Revolving Letters of Credit
Transferable Letters of Credit
Back to Back Letters of Credit
Assignment of Proceeds
VariationsRed Clause Letter of Credit.
Green Clause Letter of Credit.
Authority to Purc
Union Bank of California
99 Wall street, New York City
NY-10010, United States of America.
Documentary Credit No: HSBCHK-2345678.
Issued by: HSBC Bank Hongkong.
15 February 2011
New West Tool Co. Inc,
1000 Oak Street,
Anytown, OH-00101, USA.
Ch.1 the payment decision
1) Credit Risk : The buyer may not pay, or fail to pay under agreed terms
2) Exchange Risk: The buyers currency may devalue/depreciate in terms