Archive for the ‘credit’ tag
Opening a documentary credit
Dear Sirs
The sales agreement concluded between
our supplier, . .. (firm) and our company
for the delivery of . . . CIF . . . to the value
of . .. provides for payment by irrevocable
documentary credit, payable at sight.
We would be most grateful if you would
debit our account with the opening of
an irrevocable letter of credit in favour of
our supplier for the amount in question
in local currency. It is to be payable subject
to presentation of the following documents:
– original commercial invoice and three
copies thereof
– complete set of clean, on-board bills of
lading
– insurance policy or certificate covering
the usual transport risks
– certificate of origin.
The credit to be valid until . . . Part-shipments
not permitted.
At our suppliers’ request, (the) . .. Bank
in . . . will act as the advising bank.
We trust we will be receiving your reply in
the near future.
Yours faithfully
Unsecured credit facility
Dear Sirs
As we are planning to import substantial
quantities of foodstuffs from your country
we would be most grateful if you would
let us know whether you might be prepared
to grant us an unsecured credit
facility of up to . . . until the end of the
current year.
You will no doubt recall that our company
availed itself of your bank’s services
for import business (to the value) of . . .
some years ago. Should you, however,
require additional references, we would
request you to contact the Chamber of
Commerce and Industry in .. .
We hope that you will be able to comply
with our request and, if so, let us have
details of your terms.
Yours faithfully
