ApplicationIrrevocableLetterOfCredit.dot 09Jan14 | SD2
Nedbank's Global Business Call Centre 0860 797 797 (General enquiries)
Nedbank's Global Business Call Centre 0860 111 055 (TradeXchange)
|Please ([pic]) where applicable. |
|Name of branch* | |Client's own reference number | |
|(where submitted) | | | |
I/We, the undersigned, hereby request you to establish for my/our account an irrevocable letter of credit in the form used by you and subject to the Uniform Customs and Practice for Documentary Credits of the International Chamber of Commerce (latest version).
| This letter of credit is to be transferable |
| This is a standby letter of credit |
| Other | |
|Applicant's details (Sender/Remitter) |
| Entity | |
|Entity name* | |Trading name | |
| |
|Residential status* | Resident | Non-resident |Registration |
| | | |number |
|(Mandatory for imports) | |(Mandatory for imports) |
| Individual | |
|First name* | |Surname* | |
|Residential status* | Resident | Non-resident |ID/Temporary-permit number* | |
|Tax number | | | |
|Passport number | |Country where passport issued | |
| | | | | |
|Gender | Male | Female |
|Account name* (if ‘Yes’) | |
|Physical address |Postal address | Same as physical address |
|Physical address line 1* | |Postal address line 1* | |
|Physical address line 2 | |Postal address line 2 | |
|Suburb* | |Suburb* | |
|City* | |City* | |
|Province* | |Province* | |
|Postcode* | |Postcode* | |
|Country* | |Country* | |
|Contact person's first name* | |Contact person's surname* | |
|Telephone number* | |Fax number | |
|Email address | |
|Accountholder’s details |
|Are you the accountholder?* | Yes | No |(If ‘No’, complete this section with the accountholder’s details) |
| Entity | |
|Entity name* | |Trading name | |
|Are you an International Headquarter Company (IHQ)? | Yes | No |
|If ‘Yes’, provide IHQ number | | | | |
|Residential status* | Resident | Non-resident |Registration |
| | | |number |
|(Mandatory for imports) |(Mandatory for imports) |
| Individual | |
|First name* | |Surname* | |
|Residential status* | Resident | Non-resident |ID/Temporary-permit number* | |
|Passport number | |Country where passport issued | |
|Tax number | | | |
| | | | | |
|Gender | Male | Female |
|Physical address line 1* | |Postal address line 1* | |
|Physical address line 2 | |Postal address line 2 | |
|Suburb* | |Suburb* | |
|City* | |City* | |
|Province* | |Province* | |
|Postcode* | |Postcode* | |
|Country* | |Country* | |
|Contact person's first name* | |Contact person's surname* | |
|Telephone number* | |Fax number | |
|Email address | |
|Third-party details |
|Is there a third party involved?*| Yes | No |(If ‘Yes’, complete this section with the third-party details) |
| Entity | |
|Entity name* | |Trading name | |
| |
|Residential status* | Resident | Non-resident |Registration |
| | | |number |
|(Mandatory for imports) |(Mandatory for imports) |
| Individual | |
|First name* | |Surname* | |
|Residential status* | Resident | Non-resident |ID/Temporary-permit number* | |
|Passport number | |Country where passport issued | |
|Tax number | | | |
| | | | | |
|Gender | Male | Female |
|Physical address line 1* | |Postal address line 1* | |
|Physical address line 2 | |Postal address line 2 | |
|Suburb* | |Suburb* | |
|City* | |City* | |
|Province* | |Province* | |
|Postcode* | |Postcode* | |
|Country* | |Country* | |
|Amount |
|Currency* | |
|Perce|+ |
|ntage| |
|credi| |
|t | |
|amoun| |
|t | |
|toler| |
|ance | |
| | |
| | |
| | |
|Settlement/Payment account details |
|Please debit the following account(s): |
|Type of account |Account number |Currency and Amount |
|(Savings, current, CFC, Corporate Saver, | | |
|other) | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
|Please debit the following account(s) for charges / interest: | |
|Charges/Interest |Account number |Currency and Amount |
| | | |
|Local bank charges | | |
|Overseas bank charges | | |
|Interest | | |
|Revolving letters of credit |
|Revolving letters of credit?* | Yes | No |(If Yes, complete this section with the revolving letter of credit details) |
| | By value | By time |
|Revolving by period/value | Accumulative | Non–accumulative |
|Revolving instructions | |
| | |
|Maximum amount available |
|Beneficiary type* | Entity |Entity name* | |
| | | Individual |First name* | |
| | | |Surname* | |
| | | |Gender | Male | Female |
| | |Physical address line 1* | |
| | |Physical address line 2 | |
| | |City* | |
| | |Province/State | |
| | |Postcode/Zip | |
| | |Country* | |
|Beneficiary's bank details (through whom this credit is to be advised, if possible) |
|Name of bank* | |
|Name of branch* | |
| | | |
|Account number* | |
|Confirmation |
| Without |
| May add |Confirming charges for: | Account of the beneficiary | Account of the applicant |
| Confirm |Confirming charges for: | Account of the beneficiary | Account of the applicant |
|Expiry |
|This letter of credit is to expire on (ddmmyyyy) |
| Sight by | Payment | | | |
| | Negotiation |(Complete draft details) |
| Usance by | Negotiation | | | |
| | Acceptance |(Complete draft details) | |
| Deferred payment |Note: draft not required |(Complete usance/term details) |
| |Mixed payment details | |
| | | | |
| Mixed payments | Sight by | Payment | |
| | | Negotiation |(Complete draft details) |
| | Usance by | Negotiation | |
| | OR | Acceptance |(Complete draft details) |
| | Deferred payment | | |
| |Mixed payment details | |
| | | |
| Draft details* | Usance/Term details* |
| |
| Usance/Terms period | |days | After From | Sight |
| | | | | Invoice date | |
| | | | | Transport document date | |
| | | | | Other | |
| |
| |
| Date payable |
|Shipment | | | | |
|Partial shipment* | Allowed | Prohibited | | |
|Transhipment* | Allowed | Prohibited | | |
|Place of taking charge/Dispatch from/Place of receipt* | |
|Port of loading/Airport of departure* | |
|Port of discharge/Airport of destination* | |
|Place of final destination/For transportation to/Place of delivery* | |
| |
|Latest date for | |
|shipment | |
|(ddmmyyyy) | |
|Trade terms* | EXW | FAS | FOB | FCA | CFR | CIF |
| | Other | |
| | | |
|Description of goods |
| |
| |
| |
| |
|Percentage tolerance |
|Additional instructions/conditions* | |
| |
| |
|Documents required |
|Transport document | |Full set of bills of lading |
| | | |
| | |(To certify distribution of original bills of lading) |
| | |Full set of transport documents covering at least two different modes of transport |
| | | |/ | |set of transport documents covering at least two different modes of transport |
|Completed as follows | |Made out to order | |and endorsed in blank |
| | |Made out to order of/Consigned to/Addressed to | |
| |Notify (name) | |
| |Address | |
| | | |
| | |Air transport document |
| | |Duplicate of rail consignment note signed and stamped by the railway authority |
| | |Duplicate of road consignment note |
| | |Parcel after receipt or certificate evidencing dispatch | By air | By sea |
| | |Courier receipt |
| | |Other | |
| | | | |
| | | | |
|Marked | |Freight prepaid |
| | |Freight payable at destination |
| | |Shipping marks | |
|Insurance document required from beneficiary |
| | |Insurance policy/certificate in duplicate for full invoice value plus | |%, endorsed in blank, showing cover |
| | |for transport from the place of taking charge or shipment and the place of discharge or final destination and |
| | |covering the following risks: |
| | |Cargo clauses (A) | War clauses (postal) | Cargo clauses (air) |
| | |Cargo clauses (B) | War clauses (cargo) | Strike clauses (air cargo) |
| | |Cargo clauses (C) | War clauses (air cargo) | Strike clauses (cargo) |
| | |Plus the following additional risks | |
| | | | |
|In the case of container shipment, policy/certificate to warrant cover if shipped on deck |
|Commercial invoice | |Number of invoices required | |
|Other documents | Declaration of origin |
| | Other document | |
| | | |
| | | |
|Transport documentation must be presented abroad not later than | |days after the date of issue of the shipping document(s) |
|(subject to a maximum of 21 calendar days) but within the validity period of the credit. |
|Instructions regarding charges |
| All bank charges outside South Africa are for the account of | Applicant | Beneficiary |
| All bank charges other than the issuing bank's are for the account of | Applicant | Beneficiary |
| Discount charges are for the account of | Applicant (usance credits only) | Beneficiary (usance credits only) |
| Acceptance charges are for the account of | Applicant (usance credits only) | Beneficiary (usance credits only) |
|Sight drawing instructions |
Your correspondent must advise sight drawings under this letter of credit by telecommunication and you may debit my/our account on receipt of such telecommunicated drawing advice.
Drawings under this sight credit may be paid only on your receipt of conforming documents. Interest charges arising from such delays in settlement of reimbursement claims are for my/our account.
|Insurance declaration |
(Note: This declaration must be completed by the applicant if the applicant is responsible for the insurance of the goods being imported.)
I/We hereby declare as follows:
Insurance against transport risks has been effected by me/us as indicated below and the policies or certificates showing cover from the place of taking charge or shipment to and at the place of discharge or final destination shall be held at your disposal
| Cargo clauses (A) | War clauses (postal) | Cargo clauses (air) |
| Cargo clauses (B) | War clauses (cargo) | Strike clauses (air cargo) |
| Cargo clauses (C) | War clauses (air cargo) | Strike clauses (cargo) |
| Plus the following additional risks | |
|In the case of container shipment the policy/certificate to warrant cover if shipped on deck |
|Insurer | |Policy number | |
|Import permit declaration |
|Is import permit required?* | Yes | No |(If ‘Yes’, complete this section with the import permit details) |
|I/We confirm that I/we hold import permit number |
|*I/We understand that this application is subject to the provisions of the General Application for Letters of Credit signed by me/us on |
| | | |
|Is surety required?* | Yes | No |(if ‘Yes’, com plete this section with the surety details) | |
|I/We | |bind myself/ourselves as surety in |
|solidum and joint/co-principal debtor to Nedbank Limited under renunciation of the benefits of excussion and/or division for the due fulfilment of the |
|foregoing agreement and any amendments thereto. |
|Signed at | |on | |
|For and on behalf of the surety (Signature) | |
|Witnesses |
|Signature | |Signature | |
|Name | |Name | |
|Physical address | |Physical address | |
|Postcode | |Postcode | |
|Acknowledgement and indemnity |
I/We acknowledge the following:
• The SARB authorities require that the accountholder keeps the related documentary evidence of this transaction available for inspection for a period of 5 (five) years.
• Any quotation, indication, communication or notification in any form by Nedbank of the exchange rate is merely indicative of such rate at that point in time and is subject to change without notice and shall not be binding on Nedbank, unless confirmed by Nedbank in writing. I/We acknowledge and agree further that delays may be experienced due to exchange control procedures and Nedbank shall not be liable for losses occasioned by any delays arising therefrom.
• Nedbank shall not be liable in any way whatsoever for errors or delays in transmission, non-arrival, misinterpretation on receipt or for any loss or damage from whatever cause arising, including to identify properly the stated beneficiary as a result of telecommunication errors.
• There may be delays in the processing of my/our payment instructions from time to time due to currency holidays or any settlement procedures and accordingly I/we hereby indemnify Nedbank against and hold it harmless from any claims, liability, losses or damages of whatsoever nature that I/we may incur, whether directly or indirectly and howsoever arising, as a consequence of such delays.
• Certain payments may, through the operation of –
1. international law,
2. the laws and regulations of other jurisdictions, and/or
3. international or governmental practice, whether or not having the force of law,
be prohibited, confiscated, embargoed, withheld or otherwise prevented from being made before such payments have reached the intended recipient(s). Nedbank undertakes to notify me/us if any payment is so prohibited, confiscated, embargoed, withheld or otherwise prevented from being made as soon as Nedbank becomes aware thereof.
• Nedbank shall utilise any information that it may receive in relation to this transaction (which may not be limited to information appearing herein), and shall utilise any mechanism that it deems appropriate in order to satisfy applicable international legal requirements.
• Nedbank, in the establishment of the irrevocable letter of credit for my/our account, maybe subject to certain international laws, foreign laws and trade usages and I/we accordingly indemnify Nedbank against and hold it harmless from any loss or damage which I/we may suffer, directly or indirectly, in connection with the obligations and responsibilities imposed on Nedbank in terms of the said international laws, foreign laws and trade usages.
• Accordingly, I/we indemnify Nedbank against and hold it harmless from any loss or damage whatsoever that I/we may suffer or incur directly or indirectly as a consequence of or in connection with any of the aforesaid.
|Declaration of accountholder* | |
I/We hereby declare that:
• the information furnished above is true and correct in all respects;
• the currency applied for will be used only for the specific purpose stated;
• any documentation required in terms of the SARB Rulings and Regulations and presented in support of this transaction is authentic in all respects;
• the conclusion of this transaction in itself or in conjunction with other transactions of this type will not result in the overall limit imposed by the SARB Rulings and Regulations being exceeded;
• I/we am/are aware that the information relating to this transaction will be furnished to SARB, the South African Revenue Service, the Financial Intelligence Centre and the Financial Services Board;
• in terms of SARB directives, I/we must, as soon as possible, furnish Nedbank with evidence of importation of the goods covered by this letter of credit in the form of the prescribed SARS Customs Declaration bearing the Movement Reference Number (MRN);
• no part of the foreign currency applied for will be used for any purpose other than that stated and that no foreign exchange as defined in the SARB rulings will directly or indirectly be credited or accrue to me/us or, to the best of my/our knowledge, to any other resident of the common monetary area as a result of this transaction without disclosure to the SARB authorities;
• I/we have not duplicated/will not duplicate this application; and
• the content hereof is known and understood by me/us.
|Signed at (Place) | |on (ddmmyyyy) | |
| | | | |
|Authorised signature | |Authorised signature | |
|For and on behalf of (full company name) | |
-----------------------
INITIALS OF SIGNATORY:
DATE:
................
................
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