This page has been robot translated, sorry for typos if any. Original content here.

International markets and foreign exchange operations - Savluk M.І.

5.1.4. Design of a letter of credit

Counterparties may be hovering around at the razrakhunks, since the trading intermediary may have to renew their loan for a letter of credit to some post-schalniks, though I want to keep the letter of credit not to allow the renegotiation, but if the re-issuing of the letter of credit can destroy the provision of Art. 54d Unified rules for documentary letters of credit. Todin may come in handy two constructions of a transferable letter of credit, which are more reliable than any other and more victorious banks with less than ordinary minds.

To lay them:

  • letter of credit “beck tu bek” (compensation);
  • re-presentation of the virus from the letter of credit (cession).

The letter of credit “beck tu bek” is called a compensated letter of credit and is another letter of credit, which is guaranteed by Persian, which is called basic. Beneficiary for the first letter of credit, as a rule, є middleman, a yak, at his chergu, vіdkrivaє letter of credit for the shade of the post-shipper product. Compensation letter of credit, independent of the previous credit of the letter of credit, although I want to keep it on the basis of principle.

The Bek Tu Bek letter of credit will remain valid if the beneficiary of the Baja Nadati Bank of Russia is obligated to postachalniki, as long as the re-issuing of the letter of credit is impractical, as long as the first letter of credit is “non-verbal”. You may and may be bribed, schip to the contract, in which way there are articles, articles for the contract for resale. Zauvazhimo, who wants to construct a compensatory letter of credit to have his own authority, and I will need a special vivchenny business reputation of the counterparty.

A Danish letter of credit is indebted for re-export operations and for compensation. The practice of acquiring such letters of credit is separated in the main set of letters of credit by counterparties to one and the same bank. When you think about both the letters of credit, you have to pay attention to the other, for the price and the invoice. When a virus is transmitted for a letter of credit, the beneficiary asigned the entire virus, or a part of the letter of credit to the post-scholar.

The procedure of credit verification of the Bek Tu Bek letter of credit is simple. Spreading only the credibility of the credit for the letter of credit, the bank of the intermediary of the intermediary of the letter of credit for the letter of credit of the post-principal. With the whole bank, the Obov'yazkovo loan is in itself the right to receive payment for a new letter of credit. Inakshin vin can spend the amount of the letter of credit, as a rule documents are ruined for a hat between the correspondent bank and himself.

The bank also takes advantage of a guaranteed, non-repayable exchange of merchandise with invoices, fragments of the main letter of credit, credit to the merchant’s side, and, by the way, for the dismissal of the collateral by the borrower from the debit of credit. Dotrimannya termіnіv and vіdpovіdnіst dokumentіv vіdіgrayut virіshalnu role to control the land and immediately remove the virus. To this, bagato bankers do not have to compensate for letters of credit, but the first letter of credit is not a bank letter of credit or otherwise approved by them.

On the other hand, compensation (first and first benefit) of the letter of credit will be rejected and the price will be lower by the tariffs. Цё його дохід.

By the type of the letter of credit “beck tu bek” є “horned” letter of credit. The procedure for the return of the letter of credit is the same as for one thing: for the intermediary to ask your bank for another letter of credit for your counterparty is like a horn. Usі documents for two-house letters of credit (for a vinyatka rakhunkіv і tratt) guilty povnіstu zbіgatisya. However, it is necessary to vrakhovuvati, but not all banks may have a bajannya v_dkrivati ​​podbnі a letter of credit. Also bazannya vinikaє tolki todi, if the middle man gets involved in it and I’m able to see my part of the transaction and if I don’t transfer the limit for documentary operations, but for the credit line, I’m setting the date. Vіdpovіdno bank, the fragments of winnings at the highest price, interest in the accredited loans at home.

As far as the cob itself is concerned, the intermediary doesn’t want to disclose the name of the virobnik and the kintsev buyer for their skin, the first letter of credit is not guilty of the mother of the documents, but you must declare the address of the poster and the other the address of the kintsev buyer. And the fragments of a horned letter of credit є self-operating operation and no obligation to renew the letter of credit, then the first letter of credit is so itself, as in the case of a simple credit letter. Us і obov'yazkovі dokumentov virobnik nada я at svіy bank, a yak pіslya іkh perevyrki v_dpravlyaє a set of documents at the bank-emitent of the whole letter of credit. Ongoing to submit the amount to the debit of the middleman. At the same stage, we’ll exchange frauds and drafts, fragments of the first letter of credit, credit for the middle part, we can’t excuse the visions of the post-graduate students of the Republic of Kazakhstan. Dalі dokumenty vikoristovyvayutsya for the end of the first letter of credit and viruchka loan in the middle. Yak for transferable letters of credit, income of the middle man is stored with the total amount of loans.

Re-entry of a virus for a letter of credit (cession) is a friend to the design of a transferable letter of credit. Beneficiary for the letter of credit can re-enter the virus for the letter of credit, but often on the back of the sub-adversary (zrobiti cesіyu). The fact that I haven’t been entered into the letter of credit, we will rewrite it, do not qualify for the right of the cession: for the beneficiaries of the beneficiary, for the letter of credit the cesioner (sub-shareholder) will deny the bank I declare it, I will notify you in advance of this by letter of credit. In the last words - cession, the whole repetition of the virus, otherwise, for the benefit of any assignment (beneficiary for the letter of credit), we can give insane goiters, the loan for the creditor to the whole buyer (most often, more than once) the part of the small virus under the letter of credit will be reinserted to you for another avisuyuyy abo pіdtverdzhuyuyu jar.

For the sake of victory, we have promoted business, as well as part of the virus for a letter of credit to the sub-adversaries such as materials, materials, and details. An application for letters of credit to those who will be rewarded is not guilty of accruing the right of the beneficiary to transfer part of the virus, for which the mother can be entitled to a letter of credit.

Submission of documents at different times for the provision of the refundable letter of credit to be paid by the beneficiary's certificate. Zvidsya ces_ya - more than a little security: a payment is required to pay the payment for the letter of credit, and the clerk is not the only guarantor, but the beneficiary of the letter of credit must have documents, please. From now on, the re-entry of the virus for the letter of credit transfer є donation of the transaction by the cessionary and beneficiary of the letter of credit. Necessarily also vrakhovuvati, schsi viruski does not mean the re-accredited right of the law for the letter of credit itself.

For the transfer of the right to vimogy, the year of the bourgeois is not necessary, the whole family is worth the same as the assignor and the cessioner, among the vidnosiny and the other civic parties, they are invaded in such a way that they could be seen at the time of lying about something. For the third time and the bourgeois himself, there’s a stable period of time at the time of the rest about those who won’t go away, because they’ve got a bourgeoisie to work for a new lender.

Banks don’t have the right to ignore the rights of the virus. You’ll have to rejoice at the conclusion that you don’t have to have one’s side, lay down on those who have written the documents before submitting the application, the better way to do it before you can see them all the more. As a rule, a viscous bank of the type є guarantee sheet with smart goiters. Such a form is finished to be voluntary; as a result, in Mayday, the amount is transferred to the payment.

I transfer the right to vimogs, the assignor of the right for knowing the right to think that such a guarantee is not transferred to the land about the process. Objazyka borschik schodo a new lender is clear to the very boundaries between them, which is right up to the first, so the Borzhnik can present a note to the clerk of the cross, like the previous creditor (assignor).