Letter of Credit References:
We have completed our export letter of credit consultancy services with success in regards to a letter of credit which is issued by Bank Hapoalim B.M. on 26.Dec.2018.
The letter of credit number was 061-01-000314-6. Letter of credit issued in English language.
Total letter of credit amount was USD 109.186,09. The beneficiary completed shipments via 3 partial shipments.
All presentations have been accepted by the issuing bank on first presentation.
Documents Required:
- Commercial invoice in 3 originals
- FCR (Forwarder’s Cargo Receipt)
- Packing list in 3 originals
- EUR1 Certificate in 1 original
Specific Conditions:
- Delivery term was FCA (Free Carrier) as a result the issuing bank requested a FCR (Forwarder’s Cargo Receipt) document instead of a bill of lading.
- The FCR document was not requested by the issuing bank in ordinary FIATA document which is known as Forwarder’s Certificate of Receipt, but in Forwarder’s Cargo Receipt format.
- As there was no transport document indicated in the letter of credit, there was no latest date of shipment exist.
Our Work:
- The exporter has supplied us the draft letter of credit.
- We have checked the draft letter of credit and corrected the points that may create problem at the presentation period.
- Once the beneficiary supplied us the shipment details we have prepared the commercial invoice and packing list. We also completed the shipping instructions for the FCR document and filled out the draft version of EUR1 certificate.
- After shipment, the beneficiary has sent us all of the documents for final evaluation.
- The documents have been presented to the advising bank and have been checked once again to eliminate possible discrepancies.
Conclusion:
- All presentations have been accepted by the issuing bank on first presentation.
