Disposition of discrepant documents by the nominated bank in the following six methods:
(1) ( )Return just the discrepant documents for correction and resubmission within the
validity of the Credit and within the latest date for presentation of above document.
(2) ( )Upon authorization by the presenter, forward the discrepant documents on "an approval" basis under documentary credit to the Issuing Bank for review and approval or rejection of the documents.
(3) ( )If so authorised by the presenter, cable, telex, or telecommunicate with the issuing bank for authority to pay, accept, or negotiate against such discrepant documents.
(4) ( )Remittance of Documents for Collection.
(5) ( )Call for an indemnity from the beneficiary or from his bank, pay, accept or negotiate on the undertaking that any payment, acceptance or negotiation made, will be refunded by the party giving such indemnity together with interest and related charges, if the issuing bank refuses to provide reimbursement.
(6) ( )With the agreement of the beneficiary, pay, accept or negotiate "under reserve", i. e. the bank retains the right of recourse against the beneficiary if the issuing bank refuses to provide reimbursement against documents that do not meet the credit requirements.
(1)( )latest date for presentation of a claim including any usance period.
(2)( )terms and conditions of the Undertaking.
(3)( )the letter of credit expiry date.
(4)( )party to pay the Reimbursement Undertaking fee, if other than the issuing bank.
Claim reimbursement by means of a Time draft
A Credit available by acceptance
1.Name of Issuing Bank Place and date of issue
Dresdner Bank Hamburg, 15 April, 200 x
To: China National Light Indus- This Credit is advised through
trial Products Imp. & Exp. ICBC, Tianjin
Corp., Tianjin Branch,
Tianjin
Dear Sirs,
By order and for account of the applicant, we hereby issue an Irrevocable Documentary Credit No. H169087 for USD25,730.00 to expire on 31 May, 200× at Tianjin available with The Industrial and Commercial Bank of China, Tianjin by acceptance against beneficiary's draft at 90 days sight drawn on ICBC, Tianjin (advising bank) and the documents detailed herewith:
______________________________________________________________________________
Partial shipments not allowed. Transhipment allowed.
All charges outside Issuing Bank's country including acceptance commission are for account of beneficiary.
______________________________________________________________________________
If this Credit shall be duly accepted on presentation to drawee bank and duly honoured at maturity.
______________________________________________________________________________
Bank-to-Bank Instructions:
Accepting bank is to draw their time draft on Bank of America, New York payable at a fixed future time i. e. maturity of accepted beneficiary's drafts.
Reimbursements under this Credit are subject to the Uniform Rules for Bank-to-Bank Reimbursements under Documentary Credit, ICC Publication No. 725.
2.
From: Dresdner Bank, Hamburg
To: Bank of A.merica, New York
Reimbursement Authorisation
We hereby issue a Reimbursement Authorisation to you to accept and pay a time draft drawn on you subject to Uniform Rules for Bank-to-Bank Reimbursements under Documentary Credits, ICC Publication No. 725 upon receipt of such draft presented by the Claiming Bank——The Industrial and Commercial Bank of China, Tianjin in accordance with the following:
(1)Credit number: H169087
(2)Currency and amount: USD25, 730. 00
(3)Additional amounts payable: no
(4)Claiming Bank: ICBC, Tianjin
(5)Parties responsible for charges: beneficiary
(6)Tenor of draft: maturity of accepted beneficiary's draft
(7)Drawer: ICBC, Tianjin
(8)Party responsible for acceptance commission: beneficiary
3.
beneficiary's draft
Due 3 August, 200×
Exchange for USD25, 730. 00 Tianjin, 4 May, 200×
At 90 days sight pay to the order of
Ourselves the sum of
US dollars twenty five thousand seven hundred and thirty only
Drawn under Dresdner Bank, Hamburg L/C No. H169087 dated 15 April, 200×.
To The Industrial and Commercial
Bank of China, Tianjin For China National Light
Industrial Products Imp.
& Exp. Corp., Tianjin
Branch, Tianjin
signature
ACCEPTED
5 May, 200×
to mature
3 Aug., 200×
For
The Industrial and
Commercial Bank of
China, Tianjin
signature
4.Please fill the following particulars in two blank forms to write a Letter of Reimburse Claim and to issue a Time Draft:
(1)Addressee or drawee: Bank of America, New York
(2)Sender or drawer: The Industrial and Commercial Bank of China, Tianjin
(3)Amount: USD25,730.00
(4)Date of Letter of Reimbursement Claim and Draft: 24 July, 200×
(5)Predetermined reimbursement date: 3 Aug., 200×
(6)Payee: ICBC, Tianjin
(7)Accounting procedure: crediting our Head Office account with you under your telex advice to us quoting our Ref. No. BP87654321.
(8)Drawn clause: Drawn under Dresdner Bank, Hamburg L/C No. H169087 dated 15 April, 200×
(1)( )05 April (2)( )12 April
(3)( )30 April (4)( )03 May
(1)( )Reject the documents as non - complying.
(2)( )Refer to the issuing bank for authority to pay.
(3)( )Return the documents for amendment by the beneficiary.
(4)( )Pay the documents as fully complying with the terms of the credit.
(1)( )request the claiming bank to cancel the claim.
(2)( )instruct the claiming bank to contact the beneficiary.
(3)( )honour the claim and debit the issuing bank's account.
(4)( )dishonour the claim as per the issuing bank's instruction.
(1)( ) the issuing bank's idea.
(2)( ) the negotiating bank's idea.
(3)( ) both ideas are acceptable in accordance with ISBP199.
______ is a credit that is added another bank's (usually the advising bank) confirmation to the beneficiary. This constitutes a definite responsibility of ______ in addition to the undertaking of the issuing bank.