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EXPORTER'S HANDBOOK

EXPORTER'S HANDBOOK

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Published by: MUHAMMAD FARRUKH NOUMAN on Aug 05, 2012
Copyright:Attribution Non-commercial

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E
XPORTERS
 H
ANDBOOK
PAYMENT OPTIONSDOCUMENTARY COLLECTIONSLETTERS OF CREDITINCOTERMSEXPORT FINANCE
 
BANK OF THE WEST
Exporters Handbook
This information is supplied for educational purposes only, and should not be relied on for any specifictransactions. This material is not a complete discussion of the practices, customs, policies orprocedures of Bank of the West or any other party, nor of any law, regulation, or rule of any governmentor trade association. This material was believed to be accurate at the time of preparation. Laws andthe processes they affect change over time. Bank of the West is not a tax or legal advisor. Pleaseconsult your tax or legal advisor regarding the tax or legal impact of any law, regulation, document ortransaction.See the additional “Terms and Conditions”https://www.bankofthewest.com/privacy-security/terms-conditions.html 
Member FDIC Loans and other products are subject to credit approval. Equal Housing Lender 
BANK OF THE WESTGLOBAL TRADE SERVICES1977 SATURN ST. (SC-MPK-02-G)MONTEREY PARK, CA 91755888-600 TRADE (8723)August 2010
Form ID: 075-05325
 
BANK OF THE WESTExporters Handbook
 
Table of Contents
Topic
.........................................................................................................................................
Page
International Services.................................................................................................................1Determining Payment Terms & Comparing Payment Terms....................................................3Foreign Credit Checking.............................................................................................................4Incoming International Wire Transfers (Foreign Drafts)............................................................5Documentary Collection..............................................................................................................6D/P vs. D/A..................................................................................................................................8Export Letter of Credit.................................................................................................................9Export Letter of Credit – Communication, Payment and UCP 600...........................................11Example of Export Letters of CreditSight in Swift Format......................................................................................................13Usance in Swift Format - Paid at Sight..........................................................................14Deferred Payment in Swift Format.................................................................................15Deferred Payment Usance in Swift Format and Shipped “Ex-Works”..........................16Export Quotation Sheet..............................................................................................................18SightExport Letter of Credit Instructions to Buyer.....................................................................19Usance (Time) Export Letter of Credit Instructions to Buyer.....................................................21Export Letter of Credit Checklist.................................................................................................23Drafts Under Export Letters of Credit.........................................................................................25Sample Drafts.................................................................................................................27Transport Documents.................................................................................................................32Ocean Bill of Lading Example........................................................................................34Air Waybill Example........................................................................................................35Export Documents......................................................................................................................36Export Letters of Credit - Payment and Discrepancies..............................................................39Fees Charged on Export Letters of Credit`................................................................................45Export Letters of Credit as Loan “Collateral”..............................................................................48Choosing a Freight Forwarder....................................................................................................50International Commercial Terms (INCOTERMS)......................................................................51Financing Foreign Sales - The Export Usance Letter of Credit.................................................53Letters of Credit - Advised vs. Confirmed..................................................................................55Authorizations to Pay (“Assignment of Proceeds”)....................................................................56Transferable Letters of Credit.....................................................................................................57Standby Letters of Credit............................................................................................................59Standby Letters of Credit Procedures........................................................................................61Export Financing Assistance...............................................................................................63

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