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INSURANCE DOCUMENTS IN LETTER OF CREDIT TRANSACTIONS

By Mr Old Man

Posted on March 18, 2014

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INSURANCE DOCUMENTS IN LETTER OF CREDIT TRANSACTIONS.

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WHERE A MMTD CANNOT BE ISSUED IN NEGOTIABLE FORM

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DOCUMENTS ARE TO BE PRESENTED WITHIN XX DAYS FROM/AFTER SHIPMENT DATE

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INSURANCE DOCUMENT ISSUED TO ORDER OF THE ISSUING BANK

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CHANGING PAYMENT TERMS OF THE LC

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AMOUNT OF COVER

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ABBREVIATIONS

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LC WITH SPECIAL PAYMENT CONDITION

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TOLERANCE APPLICABLE AGAINST INDIVIDUAL QUANTITIES

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LC IS TRANSFERABLE

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ANOTHER CASE OF ASSIGNMENT OF PROCEEDS

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AUTHENTICATION OF CORRECTIONS ON BILL OF LADING AND INVOICE

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DOMESTIC LC

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ASSIGNMENT IN FAVOUR OF THE NOMINATED BANK

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INVOICE NOT ISSUED BY THE BENEFICIARY

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ADDRESS OF THE BENEFICIARY

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THE NAME OF THE COUNTRY NEED NOT BE STATED

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CARGO TO BE RELEASED WITH MORE THAN ONE BILL OF LADING TO BE SURRENDERED

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COUNTER GUARANTEE

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STAMP IN A LANGUAGE OTHER THAN THAT REQUIRED IN THE CREDIT

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CORRECTION AND ALTERATION

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A CERTIFICATE MUST BE ISSUED BY THE ENTITY STATED IN THE CREDIT

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DOCUMENTS PRESENTED DIRECTLY TO THE ISSUING BANK

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PLACE OF PRESENTATION

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EXPRESS BILL OF LADING

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