Letter of Credit Forum

what is the amount of L/C

which is corresponding bank of issuing bank

in which currency the relevant L/C will be opened and  for what period

for which item ? 

Please give full details to arrange for you back to back L/C.

Can you arrange SBLC/BG instead L/C.

We can manage if amount is big

Thanks

iec.finance at gmail dot com

chetan 

Dear All,

It' s all useless if the banking community together with the ICC is not able the get stronger commitments from market participants issuing LC under ICC UCP Rules. Look at the subject case by clicking on http://www.forfaiting.ch/sfc/ and then "case BPN". This is a 100% governmental owned bank in Western Europe. For your information documentation was accepted and acceptance protocol duly signed from the Portuguese importer. This case proves that the commitment to pay from issuing banks under the "Latest ICC - UCP Rules" is by far too weak. This LC is still unpaid since 2007!

I believe we need a black list of such banks and countries specifying that LC under ICC UCP Rules issued by such and such bank and/or country are not applicable, even if inserted in the LC !

depends on the issuer, best if it is Markazi, and depends on the background of the LC and the involved party, see the restrictions. if its advise only than why not use the Iranian Banks outside, they have offices in China, and there is a small bank in Hamburg, European Iranian Handelsbank which can advise, they may even give you a credit.