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    Draft LC Glentech HK-AGA 10000 MT

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    usahafasahat maimunah
    This document summarizes an irrevocable, transferable letter of credit for $6,650,000 USD issued by ICICI Bank Hong Kong to finance the shipment of 14,000 metric tons of crude palm oil in bulk from Dumai, Indonesia to Deendayal, India. The key terms include presenting clean on board bills of lading, certificates of weight, quality and tank cleanliness from an independent surveyor to Bank Mandiri in Jakarta, Indonesia within 21 days of the bill of lading date but before the letter of credit expires. Additional conditions specify FOB pricing, commodity specifications, documentation requirements and payment procedures.

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    Draft LC Glentech HK-AGA 10000 MT

    Uploaded by

    usahafasahat maimunah
    153 views4 pages
    This document summarizes an irrevocable, transferable letter of credit for $6,650,000 USD issued by ICICI Bank Hong Kong to finance the shipment of 14,000 metric tons of crude palm oil in bulk from Dumai, Indonesia to Deendayal, India. The key terms include presenting clean on board bills of lading, certificates of weight, quality and tank cleanliness from an independent surveyor to Bank Mandiri in Jakarta, Indonesia within 21 days of the bill of lading date but before the letter of credit expires. Additional conditions specify FOB pricing, commodity specifications, documentation requirements and payment procedures.

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    This document summarizes an irrevocable, transferable letter of credit for $6,650,000 USD issued by ICICI Bank Hong Kong to finance the shipment of 14,000 metric tons of crude palm oil in bulk from Dumai, Indonesia to Deendayal, India. The key terms include presenting clean on board bills of lading, certificates of weight, quality and tank cleanliness from an independent surveyor to Bank Mandiri in Jakarta, Indonesia within 21 days of the bill of lading date but before the letter of credit expires. Additional conditions specify FOB pricing, commodity specifications, documentation requirements and payment procedures.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    153 views4 pages

    Draft LC Glentech HK-AGA 10000 MT

    Uploaded by

    usahafasahat maimunah
    This document summarizes an irrevocable, transferable letter of credit for $6,650,000 USD issued by ICICI Bank Hong Kong to finance the shipment of 14,000 metric tons of crude palm oil in bulk from Dumai, Indonesia to Deendayal, India. The key terms include presenting clean on board bills of lading, certificates of weight, quality and tank cleanliness from an independent surveyor to Bank Mandiri in Jakarta, Indonesia within 21 days of the bill of lading date but before the letter of credit expires. Additional conditions specify FOB pricing, commodity specifications, documentation requirements and payment procedures.

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    © All Rights Reserved
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    of 4

    ANNEX A

    1) Advising Bank

    BANK MANDIRI (PERSERO), PT


    12190 JAKARTA
    INDONESIA
    SWIFT CODE: BMRIIDJA

    2) Beneficiary

    PT. ABSAR GEMILANG ABADI


    INDONESIA

    3) Applicant

    M/S GLENTECH EXIM LIMITED


    SUITE 909,9F,OFFICE TOWER TWO,GRAND PLAZA,
    625& 639,NATHAN ROAD,MANGKOK,
    KOWLOON, HONG KONG

    4) Applicant Bank - (Name & Address)

    SWIFT CODE: ICICHKHHXXX


    ICICI BANK HONG KONG
    UNIT 1504B-1505, LEVEL 15, INTERNATIONAL COMMERCE CENTRE,
    1 AUSTIN ROAD WEST, KOWLOON, HONG KONG.
    BY NEGOTIATION
    ANNEX B

    :27: SEQUENCE OF TOTAL


    1/1

    :40A: FORM OF DOCUMENTARY CREDIT


    IRREVOCABLE, TRANSFERABLE

    :20: DOCUMENTARY CREDIT NUMBER


    XXXX

    :31C: DATE OF ISSUE


    XX XXXXXX 2019

    :40E: APPLICABLE RULES


    UCPURR LATEST VERSION

    :31D: DATE AND PLACE OF EXPIRY


    XX XXXXXX 2019 INDONESIA

    :51D APPLICANT BANK - (NAME & ADDRESS)


    SWIFT CODE: ICICHKHHXXX
    ICICI BANK HONG KONG
    UNIT 1504B-1505, LEVEL 15, INTERNATIONAL COMMERCE CENTRE,
    1 AUSTIN ROAD WEST, KOWLOON, HONG KONG.
    BY NEGOTIATION

    :50: APPLICANT
    GLENTECH EXIM LIMITED
    SUITE 909, 9/F, OFFICE TOWER TWO, GRAND PLAZA,.
    625 & 639 NATHAN ROAD, MANGKOK, KOWLOON, HONG KONG

    :59: BENEFICIARY
    PT. ABSAR GEMILANG ABADI
    INDONESIA
    :32B: CURRENCY CODE, AMOUNT
    USD 6,650,000.00

    :41D: AVAILABLE WITH...BY...


    ANY BANK
    BY NEGOTIATION

    :42C: DRAFTS AT ...


    AT SIGHT FOR 100% INVOICE VALUE

    :43P: PARTIAL SHIPMENTS


    NOT ALLOWED

    :43T: TRANSHIPMENT
    NOT ALLOWED

    : 44C: LATEST DATE OF SHIPMENT


    SEPTEMBER 2019

    : 44E: PORT OF LOADING /AIRPORT OF DEPARTURE


    DUMAI, INDONESIA

    : 44F: PORT OF DISCHARGE/AIRPORT OF DESTINATION


    DEENDAYAL (KANDLA), INDIA
    :45A: DESCRIPTION OF GOODS AND/OR SERVICES
    COVERING SHIPMENT OF 14,000 MT OF CRUDE PALM OIL (EDIBLE GRADE) IN BULK

    46A: DOCUMENTS REQUIRED.

    1. SIGNED COMMERCIAL INVOICE IN 1 ORIGINAL AND TWO COPIES, QUOTE GOODS ARE FREELY IMPORTABLE
    UNDER FOREIGN TRADE POLICY 2015-2020 AND ALSO DECLARE THAT THIS CONSIGNMENT DOES NOT
    CONTAIN BEEF IN ANY FORM AND CERTIFYING GOODS OF ORIGIN.

    2. FULL SET (3 ORIGINALS/3 NN) CLEAN ‘ON BOARD’ TANKER BILLS OF LADING MADE OUT
    TO ORDER OF ICICI BANK LIMITED WITH NOTIFY PARTY AS APPLICANT AND MARKED ‘FREIGHT PAYBLE’
    EVIDENCING SHIPMENT OF GOODS DESCRIBED ABOVE.

    3. ONE SET OF NON NEGOTIABLE DOCUMENTS TO BE SENT TO APPLICANT DIRECTLY BY E-MAIL AFTER
    SHIPMENT.
    4. CERTIFICATE OF WEIGHT AND QUALITY CERTIFY SHIPPED WEIGHT AND SHIPPED QUALITY ISSUED BY
    INDEPENDENT SURVEYOR (SGS OR SUCOFINDO) IN DUPLICATE.
    5. CERTIFICATE OF TANK CLEANLINESS ISSUED BY INDEPENDENT SURVEYOR (SGS OR SUCOFINDO) IN
    DUPLICATE.
    6. CERTIFICATE FROM SHIPPING COMPANY OR ITS AGENT OR BENEFICIARY TO THE EFFECT THAT THE
    CARRYING VESSEL IS REGISTERED AND APPROVED CLASSIFICATION AS LLYODS OR ITS EQUIVALENT
    CLASSIFICATION AND THE VESSEL IS SEAWORTHY AND NOT MORE THAN 25 YEARS OLD.

    :47A: ADDITIONAL CONDITIONS:-

    1. UNIT PRICE FOR 14,000MT AT USD 475 PER METRC TON FOB DUMAI PORT INDONESIA AS PER THE
    CONTRACT No. XXXXXXXXXXXXX.
    2. THIRD PARTY DOCUMENTS ACCEPTABLE EXCEPT FOR INVOICE AND DRAFT
    3. COMMINGLING CARGO OF THE SAME GRADE IS OIL IS ALLOWED.
    4. ALL DOCUMENTS ARE TO BE PRESENT IN ONE LOT.
    5. INSURANCE TO BE COVERED BY ULTIMATE END BUYER.
    6. SPECIFICATION: FFA (AS PALMITIC) : 4.5 PCT MAX, M&I : 0.50 PCT MAX,
    7. QUANTITY OF EACH BILL OF LADING MUST NOT BE MORE THAN 250 METRIC TONNES
    8. ALL APPARENT SPELLING ERROR ACCEPTABLE EXCEPT ON DESCRIPTION OF GOODS, UNIT PRICE,
    TOTAL VALUE AND QUANTITY.
    9. TOLERANCE ALLOWED WITH 3%MORE OR LESS ON AMOUNT AND QUANTITY IS ACCEPTABLE.
    10. CHARTER PARTY/ TANKER/ BILL OF LADING ARE ACCEPTABLE.
    11. TRADE TERM IS ON FOB MV BASIS, BILL OF LADING MARKED 'FREIGHT PAYBLE' ACCEPTABLE
    ASFREIGHT CHARGES WILL BE SETTLED OUTSIDE L/C TERMS BY APPLICANT (BUYER)

    :48: PERIOD FOR PRESENTATION

    DOCUMENTS MUST BE PRESENTED TO THE NEGOTIATING BANK NOT LATER THAN 21 DAYS AFTER
    DATE OF B/L BUT WITHIN VALIDITY OF THE CREDIT.

    :49: CONFIRMATION INSTRUCTIONS


    WITHOUT

    :78:(Instructions to the paying/Accepting/Negotiating Bank):

    COMPLYING PRESENTATION OF DOCUMENTS TO BE FORWARDED TO US AT ICICI BANK HONG KONG, UNIT


    1504B-1505, LEVEL 15, INTERNATIONAL COMMERCE CENTRE, 1 AUSTIN ROAD WEST, KOWLOON, HONG KONG
    BY AN APPROVED COURIER. WE WILL REIMBURSE TO NEGOTIATING BANK IN ACCORDANCE WITH THEIR
    SUCH INSTRUCTIONS AS ALSO AS PER OUR USD CORRESPONDENT.

    IN CASE OF DISCREPENCY FEE OF EQUIVALENT USD 80.00 SHALL BE LEVIED FOR PRESENTATION AND THE
    SAME SHALL BE DEDUCTED FROM THE BILL PROCEEDS.EXCEPT AS OTHERWISE EXPRESSLY STATED THIS
    DOCUMENTARY CREDIT IS SUBJECT TO UCP REVISION 2007 ,ICC PUB NO. 600
    : 57A: ‘ADVISING THROUGH’ BANK - FI BIC
    BANK MANDIRI (PERSERO), PT
    12190 JAKARTA
    INDONESIA
    SWIFT CODE: BMRIIDJA

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