D/C No. :
Subject to the General Commercial Agreementor the Standard Terms for Banking Facilities (2007 Edition) / Standard Terms for Trade Related Services (2007 Edition) (as the case may be) previously signed and delivered by us to you, you are requested to issue an IRREVOCABLE Documentary Credit on the following terms and conditions marked :despatch by Full teletransmission Brief teletransmission Courier Registeredairmail Pick up at counter
Expiry date: / Place for presentation of documents: at Issuing Bank’s counter in Beneficiary’s country
Applicant (Name and Address) / Beneficiary (Name and Address)
(Reference no. / )
Advising Bank (If blank, any bank at your option) / Amount and Currency(in figures and words)
Bank’s CONFIRMATION to this D/C is required / + / / - / % in quantityandamountacceptable
Available by PAYMENT DEFERRED PAYMENT ACCEPTANCE NEGOTIATIONagainst presentation of the documents hereunder and of beneficiary’sdraft(s)
at sight/ / days after sight / (Draft is not required for PAYMENT / DEFERRED PAYMENT D/C)
Partial shipments Allowed Prohibited / Transhipment Allowed Prohibited
Shipment Details:
(For single Sea and Air Transportation) / Latest :
Port of Loading /
Airport of Departure / : / Port of Discharge /
Airport of Destination / :
(For Multimodal, Overland, Inland Waterway Transportation and shipment by Courier/Postal Service)
Place of Taking in charge /
Place of Receipt / Despatch from / : / Place of Final Destination /
Place of Delivery / Transportation to / :
Description of Goods: (Please avoid excessive details)
INCOTERMS Ex Works FCA FOB CFR CPT CIF CIP / Local Delivery / Delivery at
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Reference No. / Amount & Currency (in figures):Beneficiary Name:
Documents Required:
Commercial invoice in one original and two copies
Full set of cleanon board Bill of Lading Multimodal Transport Document made out To order / To the order of
and endorsed in blank markedFreight Prepaid / Collect andnotify applicant /
Clean Air Waybill (original for consignor/shipper) consigned to Issuing Bank / Applicant marked Freight Prepaid / Collect and notify Applicant / consignee and indicating actual date of despatch and flight number
Cargo Receipt issued and signed by authorized signatory(ies) of applicant which must be in conformity with record held by Issuing Bank certifying that the goodsunder this credit have been received in good order and condition under lien and upon trust for and on behalf of China CITIC BANK INTERNATIONAL LIMITED, Hong Kong showing this D/C number, description and quantity of goods received and invoice value
Full set of Insurance Policy or Certificate, endorsed in blank, for at least 110% of full invoice value showing claims payable at
in the currency of this credit coveringInstitute Cargo Clauses A / (Air Cargo) , Institute War Clauses (Cargo) / (Air Cargo) and Institute Strikes Clauses (Cargo) / (Air Cargo)
Packing List
Other terms and Conditions:
All documents must be signed, dated and made out in English
Third party shipper not allowed
Documents to be presented within / days after date of shipment but within the validity of this D/C(Unless otherwise specified, 21 calendar days will be allowed)
Banking Charges:
For Usance D/C, discount charges are for account of Beneficiary
All banking charges outside Issuing Bank’s counter including the following marked are for account of beneficiary
D/C Opening Comm HKD Bills Comm In Lieu of Exchange Comm Acceptance Comm Expired D/C Drawing Comm Overdrawn Comm
Exchange Rate:
Please fix Forward Contract / Apply Forward Contract No.
Special Instructions:
This application is a Back to Back D/C transaction. Master D/C No. / and its amendment(s) (if any) is/are
enclosed / held at your counter.
Please cover cargo insurance on our behalf and made out to your order. All relative charges are for our account (unless otherwise specified, percentage and risks ofinsurancecovered subject to your discretion)
Insurance to be covered / by us / / under open policy no. / / the ultimate buyer.
In consideration of your issuing this credit, we agree and authorize you to debit our account with you being margin or to earmark our account with you, for any amount if you think necessary
We acknowledge that you may, under exceptional circumstances to be determined by you as necessary, outsource the document examination process under L/C transactions to China CITIC bank. You are authorized to handle and disclose any information in relation thereto and the underlying transactions in accordance with your Notice to Customers and Other Individuals Relating to the Personal Data (Privacy) Ordinance and the Code of Practice on Consumer Credit Data.
We hereby sign in escrow the Trust Receipt as set out on the reverse side of this application in advance of the Bank actually delivering relevant goods and/or documents to us
Please debit all charges from our current account or (Please specify)
If there are any queries, please contact Mr./Ms.Mr.Ms.Mrs. / at Tel No. / Fax No.
Unless otherwise stated herein, this credit is issued subject to the Uniform Customs and Practice for Documentary Credits of the International Chamber of Commerce which are in effect from time to time.
Authorized Signature(s) & Company Chop03-15 P1203Page 2/3
Schedule
L/C No./ Bill Ref. : / Value :Description of Goods /
Quantity
/ Marks/ Numbers /Vessel Name
/ Flight No.In consideration of China CITIC Bank International Limited (the "Bank" which expression shall include its successors and assigns) providing or continuing banking facilities or other accommodation or services to us for so long as the Bank may see fit and other good and valuable consideration (the receipt and adequacy of which is hereby acknowledged), we agree as follows:
1.Trust Receipt
1.1We acknowledge receipt upon trust (as hereinafter provided) from the Bank of the goods specified, and more particularly described, in the Schedule (collectively "Goods") and the bills of lading, shipping and other documents relating to them (collectively "Documents").
1.2The Goods and the Documents have been pledged to the Bank as security for all sums for which we may from time to time be indebted to the Bank, whether actually or contingently or whether alone or jointly with any other person (all such sums, collectively "Liabilities"). The Bank has delivered the Goods and the Documents to us solely for the purpose of our selling the Goods unless the Bank shall direct otherwise.
1.3We shall hold the Documents, the Goods and/or the proceeds of their sale at all times on trust for the Bank and solely to the order of the Bank and we shall pay the said proceeds of sale to the Bank, immediately on receipt thereof or of each portion thereof, as the case may be, without set-off, counterclaim or any deduction. Our records shall at all times record the Bank's interest in the Goods and the Documents and their proceeds of sale. The Bank shall, for the avoidance of doubt, retain a security interest in the Goods, the Documents and their proceeds of sale until the proceeds of sale have been paid to it.
2.Duties in relation to the Goods, Documents and their proceeds of sale
2.1We shall land, store and hold the Goods and Documents pending their sale and shall promptly pay all duties (including, without limitation, custom duties), freight, dock, warehousing and other costs, expenses and charges due and owing in respect of the Goods and the Documents.
2.2We shall sell the Goods and/or the Documents and deliver the same to relevant purchasers as soon as commercially possible. For the avoidance of doubt, we shall receive the proceeds of sale of the Goods and the Documents as trustee for the Bank as provided in Clause 1.3 above. We shall not sell the Goods and/or the Documents or any part thereof on credit, but only for cash and for a total amount not less than the invoice value specified in the Schedule unless otherwise authorized by the Bank in writing.
2.3Any Goods remaining unsold shall be stored in the Bank's name and any warrants for the Goods shall be delivered to the Bank. The Bank shall be at liberty at all times to enter any premises so as to inspect or secure possession of the Goods, to remove and dispose of the Goods, or any part thereof, by sale or otherwise as it may think fit and otherwise to deal with the Goods as it may consider expedient.
2.4.We shall keep as far as practically possible, this transaction, the Documents, the Goods and all proceeds of sale thereof separate from any others and shall not permit the Goods to be processed or altered without the Bank's consent in writing.
3.Rights of the Bank
3.1The Bank shall have no responsibility whatsoever for the correctness, validity or genuineness of any Goods or Documents which may be delivered to us pursuant to this Trust Receipt or for the existence, character, quality, quantity, condition, value, fitness or delivery of Goods purporting to be represented thereby, or which may otherwise be the subject of this Trust Receipt, nor shall the Bank be required to take any steps to preserve any rights or interests or claim title in respect thereof against any third party, and so that if any such steps are required, we shall promptly undertake the same on the Bank's behalf at our entire cost and expense.
3.2.The Bank may, at any time, cancel this trust and take possession of the Goods and/or the Documents and/or their proceeds of sale, wherever and in whatever form the same may be. We undertake to return to the Bank forthwith on request of the Bank at any time the Documents and to comply promptly and fully with any instructions which the Bank may give as to the manner of dealing with the Goods or the Documents or any of them.
3.3The Bank is hereby authorised to demand, collect and/or receive the sale proceeds of the Goods and/or Documents direct from any purchaser or purchasers without notice to us.
3.4.We shall surrender to the Bank the Goods and/or the Documents and/or their proceeds of sale if the Bank makes demand upon us for payment of all or any Liabilities or if the Bank otherwise becomes entitled to accelerate payment of all or any Liabilities.
4.Trust Receipt supplemental to Bank's General Commercial Agreement
This Trust Receipt is supplemental to and shall be read together with the General Commercial Agreement [or, if applicable, the Standard Terms for Banking Facilities (2007 Edition) / Standard Terms for Trade Related Services (2007 Edition)] entered into between us and the Bank. For this purpose, the provisions of the said General Commercial Agreement [or, if applicable, the Standard Terms for Banking Facilities (2007 Edition) / Standard Terms for Trade Related Services (2007 Edition)] shall also apply in respect of this Trust Receipt mutatis mutandis. However, to the extent there is any conflict between the said General Commercial Agreement [or, if applicable, the Standard Terms for Banking Facilities (2007 Edition) / Standard Terms for Trade Related Services (2007 Edition)] and this Trust Receipt, this Trust Receipt shall prevail.
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