Online Letter Of credit form

This is the online Letter of Credit form (L/C)and intend for the use of general public in India. Kindly fill the details and submit the data, you will get the L/C form in word format. You may copy it for any further edition or take direct print. Kindly mention the values in digits /numbers only (no decimal please).
Project Details
Dispatch details
Usance Details

Supplier Bank Charges to Suppliers A/c. and buyer bank charges to Buyer A/c.
Usance interest charges may be allowed over and above L/C value.
Negotiation is allowed in any bank in India.
Negotiation is allowed strictly in the advising bank only.
Documents Required:
Signed Invoice In triplicate (original plus two photo copies).
Consignee Copy of LR indicating freight pre paid.
Copy of Test Reports (or) Inspection reports.
Bill of exchange /Draft for the Invoice value.
Separate Debit note / bill of exchange (for Interest amount).
Delivery Chalan duly acknowledged by site-in charge
copy of MRN (Material receipt note).
   
   
Additional Clauses:
Additional value due to Variation in quantity is allowed to over & above L/C value.
Bill of exchange should not be prior to L/R date.
Variation in Qty and Value is allowed maximum +/- 2 %.
Quantity in Rmt/ Meters (or) Kgs / Metric Ton/MT is also acceptable.
Supplies made prior to L/C opening date are also allowed - but not more than 30 days prior to L/C opening date.
Documents prepared in the name of applicant (i.e Purchaser) works/site/corporate address are also acceptable.
Documents drawn by beneficiary (i.e supplier) works/ Head office/ Branch office are also acceptable.
Short term/ Short name of consignee are also acceptable.
Short form of specification / item description in the INVOICE / DRAFT is also allowed.
Transport carrier may or may not be an IBA approved carrier.
Supplies made from authorized depots other than supplier plant /works is also acceptable and will not be treated as discrepancy.
L/C number should be mentioned in the bill of exchange / draft and Invoice.
Document / Draft /Bill of exchange drawn under the L/C to be marked as” Drawn under the L/c no.___________ Dated.__________ of Issuing Bank Name & Branch _______ & P.O no.______________ PO Dated___________”.
No consent from Advising bank / beneficiary is needed for the short acceptance of Bills due to discrepancy /short supply /rejections.
Confirmation /documentation / discrepancy charges, if any shall be on account of beneficiary (supplier) and the same will be deducted against the BOE /Draft.
   
   

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