how to review the documents presented under letter of credit

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raseen
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Joined: 12/14/2007
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It's amazing thing to find a web site like this site very expert , very comperhinsive and very educational .

I work at one of great fishing company at home , and always I face a proplem with banks witch is ( the document is not applied as L/C requirments ), despite of my efforts to follow the L/C SWIFT .

I really will appreciate if any one can help me with updated check list I can use it to review my documents before presinting it to the banks .

 

zhn2500zhn (not verified)
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shahriar
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Joined: 08/25/2007
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LC itself is a check list

hi raseen

i think that ur lc is the best check list. just go through the terms and meet them. simple. we bankers do have some check list but thats basically related to the internalcompliance. even if you require one post your mail and i will send you one. let aslo see whether other members have one of your need. by the way, there are some facts which wont be written in LC. such as bill of exchange must be dated. this will not be written in LC. my check list cover some of them. wish you luck with your documents.

Shahriar

raseen
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Joined: 12/14/2007
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thanks

hi shahriar ,

thanks so much for ur fast reply , I will be so glad for sending the checklist to my mail raseentolestoy@yahoo.com .

thanks in advance and I wish all the best

 

Staffan_lund
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Joined: 10/18/2007
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Not the whole story

I am not sure that I find it helpful to say that the LC itself is a check list.

Bear in mind the definition of what constitutes a complying presentation: 

a presentation that is in accordance with 

1) the terms and conditions of the credit,
2) the applicable provisions of these rules and
3) international standard banking practice. 

i.e. there are many rules and practices that are not stated in the LC  itself - yet still applicable; One example is the requirements regarding signing of transport documents e.g. UCP 600 article 20(a)(i) and ISBP (2007) § 94. 

There are many check lists available on the internet. A few examples: 

http://www.sitpro.org.uk/trade/lettcredintro.html 

http://www.nordea.com/Corporate++Institutional/Trade++Project+Finance/Tools/Checklists/907042.html  

raseen
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Joined: 12/14/2007
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thanks

Hi Staffan-lund

valuable links ... thanks .