Application And Agreement For Commercial Letter Of Credit
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eTrade Finance Platform
For Bank of America Use Only
Clear Form
L/C No.
Application and Agreement for Commercial Letter of Credit
TO: Bank of America, N.A. (“Bank of America”)
A. Application
File No.
1. Applicant Name & Address (guarantor for Letter of Credit) requests
2. Advising Bank Name and Address: (if left blank, the Bank of America
Bank of America to issue an irrevocable commercial letter of credit (the
Banking Center will be used)
“Letter of Credit”) as follows:
Full text teletransmission
Courier
4. In favor of (Beneficiary Name and Address):
3. For Account of Party/Named Applicant on the Letter of Credit
(Name and address, if different from Applicant):
5. Expiration Date. Drafts to be drawn on and presented to the negotiating or paying bank on or before:
6. Amount:
(
)
Put in figures and words. For example: ($10,000) Ten thousand and 00/00
USD$
0%
Currency
(if left blank, U.S. dollars)
Tolerance
100%
% of invoice value. (Full invoice value unless otherwise specified.)
7. Covering :
8. Available by drafts:
Sight
Days Sight
Days Date (being the date of the transport document).
Drafts to be drawn on Bank of America or Bank of America’s correspondent, at Bank of America’s option. Bank of America may at its option waive
any draft requirement.
9. Partial Shipment:
10. Transshipment (Not applicable to Air Shipments or Multimodal Transport Shipments.)
Permitted
Not Permitted
Permitted
Not Permitted
11. Transferable Letter of Credit?
If Yes, (if no bank is named, then the Advising bank will be the authorized bank)
Yes
No
Bank Authorized to Transfer:
12. Shipment/Dispatch/Taking in Charge From/At
Latest Shipment Date
For Transportation To
Final Destination
13. Merchandise to be described in invoice as (omit unnecessary details and specify price basis below).
BLANK
14. Shipping Terms/Price Basis (Check one):
FCA
FOB
CFR
CIF
Other:
15. Documents Required (Check applicable boxes below)
Commercial invoice
original(s) and
copies.
Packing List in
original(s) and
copies.
Certificate of Origin in
original(s) and
copies.
Negotiable Marine/Air Insurance Policy or Certificate for at least 110% invoice value in duplicate, effected by
Buyer
Seller
Including coverage for:
War Risk
All Risks
Other Risks (Specify)
Transport documents:
Marine B/L
Multi-modal B/L
Airway Bill
Truck B/L
Other
Presented in
Full Set
2/3
1/3
Copy
Consigned to/the order of
(if left blank consigned to applicant)
Marked Notify
Marked freight:
collect
prepaid.
Other documents:
16. Special Instructions to be included in the Letter of Credit: (Unless otherwise stated)
All bank charges (other than those of Bank of America) are for the account of the Beneficiary. Discount charges, if any, are for the account of the
Beneficiary. All documents are to be sent by the negotiating/paying bank to Bank of America in one cover by courier or registered mail.
Other instructions:
17. Special Instructions to Bank of America:
18. Documents must be presented to the negotiating or paying bank no later than:
days after date of transport document (on board
validation applicable for ocean shipment) but within the validity of the Letter of Credit. (Will be 21 days if left blank.)
If this box is marked. Applicant authorizes Bank of America to effect payment of any sums due under this Application and Agreement by means of
debiting Applicant's account with Bank of America set forth below. This authorization does not affect the obligation of Applicant to pay such sums when
due, if there are insufficient funds in such account to make such payment when due, or if Bank of America fails to debit the account, and this authorization.
does not affect any setoff rights of Bank of America at law or in equity. Applicant's account number with Bank of America is
.
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