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HOW TO FILL IN A BILL OF EXCHANGE

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QUESTION

DEAR MR. OLD MAN

I’VE KNOWN YOU FOR MANY YEARS BUT UNTIL NOW I CONTACT YOU FOR YOUR HELP RELATING TO FILLING THE BILL OF EXCHANGE (B/E).

THE DETAILS OF L/C AS FOLLOWS:

• SENDER BANK OF THE L/C: HSBC HEAD OFFICE
• ALL SHIPPING DOCUMENTS INCLUDED BILL OF EXCHANGE MUST BE SENT TO HSBC THAILAND BRANCH.
.
B/E PRESENTED WITH DETAILS:

• DRAWN UNDER : HSBC HEAD OFFICE
• TO: HSBC THAILAND BRANCH
.
ACCORDING TO YOU, THE DRAWN UNDER MENTIONED ABV. (HSBC HEAD OFFICE) IS CORRECT OR MUST BE CHANGED TO HSBC THAILAND BRANCH ?
.
PLS EXPLAIN THE REASON WHY ?
.
THANKS N BEST REGARDS,
B.
—————————————
ANSWER

Hi,

On Bill of Exchange, field “DRAWN UNDER” is normally filled in with the name of the issuing bank and LC number, e.g., HSBC Head Office L/C No. 12345.

Field “TO” is always completed with the name of the drawee indicated in field 42a of the LC.

So, if the L/C is issued by HSBC Head Office and field 42a of the L/C indicates HSBC Thailand Branch as drawee, then the presented Bill of Exchange showing “DRAWN UNDER: HSBC Head Office” and “TO: HSBC Thailand Branch” is complying.

Please check the L/C terms and conditions.

Best regards,
Mr. Old Man

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