chensihong@chensihong.org
Non-Operative Letter of Credit
chensihong@chensihong.org
chensihong@cableplus.com.cn
Non-Operative Letter of Credit
陈斯红www.chensihong.org先生：
你好！
对于贵方转发的3份买方发出的Email，分别为：
3.1
可否不采用循环LC，这样对于我们公司的整个业务将产生很大影响，资金运转不过来，而且可操作性不强；我们希望以中国商检CIQ为准；
如果采用95%的SGS，5%的中国CIQ为商检依据。我们希望选择LC
90DAYS的付款方式，可否操作？
谢谢
其他都可以具体详谈，谢谢。
CTY Mr.
------
如果不采用revolving LC,
我们必须看到信用证样本，然后才可决定。对于付款，我们将使用国际通用惯例，95%付款根卖方SGS标准，5%根据中国CIQ标准。chensihong@chensihong.org
chensihong@chensihong.org
陈斯红www.chensihong.org先生
3.2 Date: March 14, 2005
Letter of Intent
Name of
Commodity: Iron Ore Fines, 65.5%Fe content basis
Origin：Brazil/Peru
Loading Port: As per supplier’s
Specification：Iron Ore Fines, not less than
65.5% Rejection below 64.5%
Packing：In bulk
Quantity：500,000DMT per month for one year
Shipment: Within 30 days after the seller
receives the operative payment instrument
Loading
Rate: pls advise us
Destination Port: China North
Main Ports
Inspection: S.G.S. inspection at the
loading port
CIQ inspection at the destination
port
Payment: 100% irrevocable, transferable and
revolving Letter of Credit at Sight
Price:
US$_________ per DMT CNF China North Main Ports
Bank Information：
Bank
Name:
Address:
Swift
Code：
Account Holder:
Account No.:
chensihong@chensihong.org
chensihong@chensihong.org
陈斯红www.chensihong.org先生
-------
我们希望将总量扩展到720万公吨/年，买方为同一个厂家，我们将根据信用证付款方式确定价格。
MODE1. US$69.80(SIXTY EIGHT USD)./DMT CNF FOR
IRREVOCABLE, NON-TRANSFERRABLE,OPETATIVE CREDIT ON A YEARLY BASIS FOR
THREE YEAR.
TOTAL AMOUNT OF THIS CONTRACT:
USD69.90 X 7,200,000MT/PER YEAR=US$ (** USD) /PER
YEAR
MODE2. US$74.80(USD)./DMT CNF FOR
IRREVOCABLE, NON-TRANSFERRABLE, REVOLVING OPETATIVE CREDIT ON HALF A
YEARLY BASIS FOR ONE YEAR FOR THREE YEAR.
TOTAL
AMOUNT OF THIS CONTRACT:
USD74.00 X
7,200,000MT/PER YEAR=US$(USD) / PER YEAR
MODE3.
US$82.80(EIGHTY TWO USD)./DMT CNF FOR IRREVOCABLE, NON-TRANSFERRABLE,
REVOLVING OPETATIVE CREDIT ON A MONTHLY BASIS FOR THREE YEAR.
TOTAL AMOUNT OF THIS CONTRACT:
USD82.00 X 7,200,000MT=US$(USD) / PER YEAR
chensihong@chensihong.org
chensihong@chensihong.org
陈斯红www.chensihong.org先生
3.3 Date: March 14, 2005
Letter of Intent
Name of
Commodity: Iron Ore Fines, 64.5%Fe content basis
Origin：Brazil/Peru
Loading Port: As per supplier’s
Specification：Iron Ore Fines, not less than
64.5% Rejection below 63.5%
Packing：In bulk
Quantity：500,000DMT per month for one year
Shipment: Within 30 days after the seller
receives the operative payment instrument
Loading
Rate: pls advise us
Destination Port: China North
Main Ports
Inspection: S.G.S. inspection at the
loading port
CIQ inspection at the destination
port
Payment: 100% irrevocable, transferable and
revolving Letter of Credit at Sight
Price:
US$_________ per DMT CNF China North Main Ports
Bank Information：
Bank
Name:
Address:
Swift
Code：
Account Holder: .
Account No.:
-------见2.2
如果有任何意见，请尽快告知。
--------------------------------------------------------------------------------
chensihong@chensihong.org
;
chensihong@chensihong.org;
chensihong@cableplus.com.cn;
主题: Non-Operative Letter of Credit
Although the 'non-operative L/C' is a financial
instrument readily available in major centers to facilitate settlement
of international trades; however, it is not available in China to
importers. All L/Cs attract an L/C opening charge of around 0.15%,
non-refundable. All L/Cs are 'operative' once opened.
Unless an importer is able to arrange for an
non-operative L/C to be opened by an international bank in HongKong,
iron ore suppliers must accept an alternative instrument, Notice of L/C
Issuance, which is the Pre-Advice issued by the buyer's bank to the
seller's bank, confirming that it is funding the L/C, upon receipt of
the seller's Performance Bond (PB). Therefore, the Notice of L/C
Issuance functions much like a non-operative L/C. Instead of
'activating' the non-operative L/C, the PB 'triggers' the Operative L/C.
Failure to appreciate the limitation of the
Chinese banking system in international trade settlements would only
result in futille lengthy negotiations leading nowhere. On the other
hand, innovative thinking by all parties to a transaction would produce
a fruitful outcome without sacrificing reasonable financial protection.
Wishing all many successful business outcomes in
China!
chensihong@chensihong.org
chensihong@chensihong.org
陈斯红www.chensihong.org先生
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