Application LC midterm assignment international payment

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COASTAL FISHERIES

DEVELOPMENT

CORPORATION

THE SOCIALIST REPUBLIC OF

VIETNAM Independence – Freedom

-Happiness

APPLICATION FOR ISSUANCE OF LETTER OF CREDIT

Please tick to appropriate check box

To: ………

With all our obligations we hereby request the bank for the issuance of the Irrevocable Letter of credit for our account in accordance with the below instructions (mark “X” where appropriate

CIF number:

Name and address of

Applicant:

SM TRADING

ADD: 59

SEONGMO-RO 16 BEON-GIL,

YANGCHON-EUP,

GIMPO-SI,

GYEONGGI-DO,

KOREA

Beneficiary:

COASTAL FISHERIES DEVELOPMENT CORPORATION (COFIDEC)

ADD: 177 DINH TIEN HOANG STREET, DISTRICT 1, HO CHI MINH CITY, VIETNAM

Advising bank:

VIETNAM EXPORT IMPORT

COMMERCIAL JOINT STOCK BANK

Transferring bank if any:

Date and place of

expiry:

160715 in KOREA

Form of LC:

[ X ] Irrevocable [ ]

Transferable

Ccy, amount:

USD 27,216.00 SAY: US DOLLAR TWENTY-SEVEN THOUSAND TWO HUNDRED

SIXTEEN

[ X ] Tolerance:

+/- 10%

Payment term: [ X ] Sight [ ] days after sight

() [ ] days after shipment date [ ]

Other:

For: [ X ] 100PCT invoice value [ ] 90PCT invoice value

[ ] 80PCT invoice value [ ] Other

Credit available with: [ X ] Any bank [ ]

Advising bank

[ ] Confirming bank [ ] Other bank: …

(Please specify)

Trade term: [ X ] FOB [ ] CFR [ ] CIF/CIP [ ] DAF [ ] Other:

Place: HOCHIMINH PORT [ ] Incoterms 2000

[ X ] Incoterms 2010

Partial shipment:

[ ] Permited

[X] Prohibited

Transshipment:

[ ] Permited [ X ] Prohibited

Place of Receipt: Place of Destination:

Port of Loading: HO CHI MINH

PORT, VIET NAM Port of Discharge: ANY MAIN KOREA PORT

Latest date of shipment: ?? Shipment period:

Description of goods:

+ COMMODITY : Vannamei Breaded PTO Shrimp (12GR/PCF X 30/TRAY X 20/CTN)

+ QUANTITY : ABT 600 CTNs (10% more or less allowed)

+ UNIT PRICE : 6.3 USD/Kg FOB HCMC, VIETNAM

+ TRADE TERMS : FOB HCMC, VIETNAM

(INCOTERMS 2010)

+ TOTAL AMOUNT (USD) : ABT 27,216.00 USD (10% more or less allowed)

+ ORIGIN : Ho Chi Minh, Vietnam

+ PACKING: EXPORT STANDARD

+ SHIPPING MARK:

Vannamei Breaded PTO Shrimp

Brandname:

Roll No:

Date:

Roll width:

Roll length:

Origin: Vietnam Manufacturer:

Importer:

Documents required:

1 SIGNED COMMERCIAL INVOICE IN TRIPLICATE

2 FULL SET (3/3) OF ORIGINAL CLEAN ‘SHIPPED ON BOARD’ BILL OF LADING MADE OUT TO ORDER OF JOINT STOCK COMMERCIAL BANK FOR INVESTMENT AND DEVELOPMENT OF VIETNAM, HCM BRANCH, MARKED ‘FREIGHT PREPAID’;

NOTIFY THE APPLICANT

3 DETAILED PACKING LIST IN TRIPLICATE (SIGNED DETAILED PACKING LIST SHOWING NET WEIGHT, GROSS WEIGHT, BALE NO.)

4 CERTIFICATE OF ORIGIN ISSUED BY THE CHAMBER OF COMMERCE OF KOREA IN TRIPLICATE

5 FULL SET OF INSURANCE POLICY OR CERTIFICATE IN ASSIGNABLE FORM AND ENDORSED IN BLANK FOR 110 PCT OF THE INVOICEMALUE COVERING ALL RISKS SHOWING CLAIM PAYABLE IN HOCHIMINH – VIETNAM IN INVOICE CURRENCY

6. CERTIFICATE OF QUALITY AND QUANTITY ISSUED BY BENEFICIARY OR

MANUFACTURER IN TRIPLICATE

Additional conditions:

1 All required documents must be issued in english

2 This credit is subject to uniform customs and practice for documentary credits

2007 revision, international chamter of commerce publication no.600

3 If documents presented under this l/c are found to be discrepant, we shall give notice of refusal and shall hold documents at the presenting bank’s disposal however should we receive appicant’s approval of discrepancy (ies) prior to the presenting bank’s instruction on disposal of documents, we will release the said documents to the applicant without notice to you

4 A discrepance fee of usd50.00 should be deducted from the proceeds for all documents negotiated with discrepancies drawn under this credit

notwithstanding any instruction to the contrary, this charge should be for account of the beneficiary

5 One extra copy of all documents is required for issuing bank’s file if such copies are not submitted, usd20.00 shall be deducted from the proceeds when

payment effected

6 All required documents should indicate this credit number, date of issue, issuing bank

7. Please collect your advising charges before releasing lc

Charges : ALL BANKING CHARGES OUTSIDE VIETNAM INCLUDING REIMBURSING BANK CHARGES, CONFIRMING CHARGES ARE FOR BENEFICIARY'S ACCOUNT

Confirmation instruction: [ X ] Without [ ] Confirm [ ] Mayadd

Confirming Bank: ………

Confirmation fees are for:

[ X ] Beneficiary's account [ ] Applicant's account

TT reimbursement: [ X ] Not allowed [ ] Allowed ………working days

In consideration of the issuing the above Credit substantially conforming with our request, we hereby agree as follows:

1 This letter of credit is opened under Contract No 092/2015 XK-CF/SM dated AUG

20 2015

2 We hereby declare that the transaction covered under this credit complies with current Regulations on Import and Export and with current Foreign Exchange Management Act under the law of Vietnam

3 This letter of credit is subject to “ICC Uniform Customs and Practice for Documentary Credits” in effect at time of issuance

4 In case the advising charge, confirming charge (if any) and other charges (if any) are not collected from the beneficiary by the advising bank or confirming bank, we would make payment for these charges

5 Source of funds:

We hereby authorize you to debit our account at your bank:

Số: 100% số tiền: $27,216.00 để ký quỹ mở thư tín dụng này

[ ] Số: số tiền: để thanh toán thư tín dụng này.

[ ]

số: để thanh toán thư tín dụng này

[ ] Other:

6 We hereby commit to remit full proceeds in a timely manner for full settlements plus charges In case we fail to do so, we unconditionally and irrevocably accept a compulsory trade loan from you We undertake to pay principal plus interest incurred thereof

7 In case we take a compulsory trade loan from ourbank, we voluntarily concede the possession of goods to our bank If we fail to pay all debt incurred thereof within 10 days from the date of involuntary payment, our bank is entitled to sell the shipment in question, dispose any security, deposit or mortgage or take any other measures to take back the loan

For further information, please contact with Mr/Ms:

Tel No.: Fax:

Ho Chi Minh City, (date) (month) 2016

Phạm Ngọc Thái

Received by BIDV on 25 May 2016

Name and Signature