Scribd Logo
Upload

Welcome to Scribd!

  • Application For Opening Inland Letter of Credit

    Uploaded by

    jayamohan
    143 views3 pages
    This document is an application for an inland letter of credit from Karur Vysya Bank. It requests the bank to open an irrevocable inland letter of credit in favor of a specified beneficiary for a certain amount. The application provides details about the letter of credit such as the form, expiration date, beneficiary information, goods description, required documents, and additional terms and conditions. It also includes the applicant's import-export code and attached documents like proforma invoices to support the application.

    Original Description:

    Original Title

    ILC LC copy

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    This document is an application for an inland letter of credit from Karur Vysya Bank. It requests the bank to open an irrevocable inland letter of credit in favor of a specified beneficiary for a certain amount. The application provides details about the letter of credit such as the form, expiration date, beneficiary information, goods description, required documents, and additional terms and conditions. It also includes the applicant's import-export code and attached documents like proforma invoices to support the application.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    143 views3 pages

    Application For Opening Inland Letter of Credit

    Uploaded by

    jayamohan
    This document is an application for an inland letter of credit from Karur Vysya Bank. It requests the bank to open an irrevocable inland letter of credit in favor of a specified beneficiary for a certain amount. The application provides details about the letter of credit such as the form, expiration date, beneficiary information, goods description, required documents, and additional terms and conditions. It also includes the applicant's import-export code and attached documents like proforma invoices to support the application.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    of 3

    FX-11(R)

    From: To:

    KARUR VYSYA BANK

    ………………………….. BRANCH

    DATE :

    APPLICATION FOR OPENING INLAND LETTER OF CREDIT


    Dear Sir,

    I / WE REQUEST AND AUTHORIZE YOU TO OPEN BY INLAND LETTER OF CREDIT


    ( ILC ) THE FOLLOWING CONFIRMED IRREVOCABLE , CIN FAVOUR OF
    _______________________( NAME AND ADDRESS ) TO THE EXTENT OF RS_____________( IN
    WORDS)
    01 Form of Documentary Credit : Irrevocable
    02 Place of Expiry :
    Last Date for Presentation
    03 :
    (i.e. Expiry Date of L/C)
    04 Beneficiary Name and address:
    :

    05 Foreign currency & amount :


    06 Percentage of tolerance in credit :
    amount
    07 Credit Available with :  Advising Bank Any Bank
    08 Credit Available by :  Negotiation Acceptance Payment
    09 Drafts at :  Sight
     Usance ..… days from the date of
     Negotiation  B/L  …………..….…

    10 Part Shipment :  Allowed  Not allowed


    11 Transhipment :  Allowed  Not allowed
    12 Deck Shipment :  Allowed  Not allowed
    13 Shipment to be effected : From ……………………………
    To ……………………………
    14 Last date for shipment :
    15 Description of Goods
    (Specify Nature of Goods/Unit
    price/Quantity/Terms of sale)
    16 Documents required ( Tick mark documents needed to be called for )

    a. Invoices in ………….. fold.


    a. 100% Draft for Invoice value
    b. Delivery challan / form jj in duplicate
    e. Packing list in ………… fold.
    Other documents (specify): (X)

    Additional Conditions: (X)


    1. Interest for usance period.
    a. No interest is payable
    b. Interest payable at ………………………...…% from the date of …………..
    2. Bank charges outside India for account of  Applicant  Beneficiary
    3. Presentation period for documents ……… days after the date of shipment.
    17 4. Lc to be  not to be confirmed
    5. All documents should quote Lc.No and date. Con…. 2
    6.

    18 Our Import – Export Code Number is :


    19 We attach the following documents:
    a. Form A 1
    a.  Proforma Invoice  Indent  sale contract
    c. Insurance cover note / policy
    (applicable in case of contracts other than C&I and CIF)
     d. Exchange control copy of Import Licence

    This application is part of the agreement executed by us for opening L C.

    FORMAT
    1. The:- SREEDHAR/DESKTOP/FX-11
    goods are freely importable as per current Import Export Policy or we are
    importing the goods under Licence No. ………………………….
    02. The goods are being imported at our own risk and responsibility.
    03. We will submit the Exchange control copy of the Bill of Entry for Home
    consumption / Postal wrapper within three months from the date of
    remittance. We will submit the same at the time of retirement in case of
    usance bill. If for any genuine reasons we are not able to produce it at the
    time of retirement in case of usance bill, we shall produce the same within a
    maximum period of three months from then.

    Yours faithfully,

    ( Authorised signatories with stamp )

    GUIDELINES
    1. Attach insurance policy if not called for under clause 16 such as FOB, C& F etc. contracts.
    2. All details are to be filled up in this form only and use extra sheets only when the space is
    inadequate.
    3. Do not repeat any instructions.
    4. You can generate this LC application from your PC strictly in the above format.
    5. For large value LCs, SGS certificate to be called for in your own interest/as per Bank rules.

     Strike whichever is not applicable.


    (X) Use additional sheet if space is not sufficient.

    You might also like