Application for the Transfer of the Letter of Credit

Application for the Transfer of the Letter of Credit
Information about Customer (First Beneficiary)
Customer
name, surname – for individuals/ company name – for corporate entities
Account No. / LV / AIZK
Contact person / Telephone
ABLV Bank, AS / Registration No. 50003149401 / SWIFT: AIZK LV 22 / K4 / VEI.278 / Versija: 02 / Spēkā no: 01.01.2008. 2/2
Application for the Transfer of the Letter of Credit /
Information about the Original Letter of Credit
Reference number of ABLV Bank, AS
Currency and amount
of the letter of credit / Currency code /
amount (in figures)
Nominated bank
name
Herewith we request you to transfer the above mentioned letter of credit, issued in my/ our favour, on the terms and conditions set out hereby below.
Information about Second Beneficiary
Second beneficiary
name, surname – for individuals/ company name – for corporate entities
Account No.
Legal address
Bank of the second beneficiary / Code
name / SWIFT vai TELEX
address
Terms of the Transfer of the Letter of Credit
The transfer of the letter of credit has to be effected in accordance with the original letter of credit terms except the following:
Currency and amount
of the transfer / Currency code /
amount (in figures)
amount (in words)
Unit price of the goods
Percentage of
the insurance cover / % from the invoice amount of the second beneficiary[1]
Expiry date[2] /
/ Latest date of shipment /
day month year / day month year
Presentation period: within / days after the date of
specify the event or the document
but within the validity of the letter of credit.
Additional Instructions
We irrevocably confirm that we will substitute the invoices and drafts of the second beneficiary. We undertake to deliver to you our drafts and invoices in compliance with the terms and conditions of the original letter of credit for the substitution of the drafts and invoices of the second beneficiary within 3 (three) working days after receipt of your first request. We acknowledge your right to deliver to the issuing or nominated bank the documents of the second beneficiary if we fail to deliver our drafts and invoices at your first request, and that in such an event we shall not be entitled to claim the difference between invoices which would otherwise be due on us.
We irrevocably confirm that we will not substitute the invoices and drafts of the second beneficiary.
We retain our right to forbid you to advise amendment(s) to the second beneficiary.
We waive our right to forbid you to advise amendment(s) to the second beneficiary.
We hereby acknowledge that upon the transfer of the letter of credit certain proprietary information may be disclosed to the second beneficiary and/ or the applicant. ABLV Bank, AS, will have no liability in the event of such disclosure, and in such event we will indemnify and hold ABLVBank, AS, harmless from all claims of third parties.
The name of the applicant may be disclosed to the second beneficiary. For this reason, the documents may be issued in the applicant’s name.
The name of the applicant must not be disclosed to the second beneficiary. For this reason, the documents must not be issued in the applicant’s name.
The name of the second beneficiary must not appear in any document (except invoices and drafts).
Commissions
Commissions of ABLV Bank, AS to be paid by / customer / second beneficiary
Corresponding (nominated) bank’s commissions to be paid by / customer / second beneficiary
Second beneficiary bank’s commissions to be paid by / customer / second beneficiary
Confirmation
I am informed that the Bank is obliged to provide information to the Bank of Latvia and entitled to receive information from the Credit Register of the Bank of Latvia in the cases specified in the regulations. I am informed that individuals and corporate entities have right to receive information regarding themselves that is included in the Credit Register of the Bank of Latvia. The Bank of Latvia “Regulation for the Credit Register” can be found at the Bank of Latvia Internet homepage: www.bank.lv.
I have read the ABLV Bank, AS, General Terms of Business, consent thereto, and agree to be bound thereby.
customer’s signature, seal / test-key
Date /
/ Place of signing
day month year / city and / or country
Notes by the Bank
Date /
day month year / signature and seal of a Bank officer
ABLV Bank, AS / Registration No. 50003149401 / SWIFT: AIZK LV 22 / K4 / VEI.278 / Versija: 02 / Spēkā no: 01.01.2008. 2/2

[1] Percentage of the insurance cover must be increased in such a way as to provide the amount of cover stipulated in the original letter of credit.

[2] This date must be at least 5 (five) business days before the expiry date of the original letter of credit when substitution of invoices is required.