Letter Of Credit Instructions 2007
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2Letter of Credit Instructions (Rev. 07/07)
We have indicated the below terms and conditions we find acceptable in a Letter of Credit (LC) issued by your
bank. Your efforts to gain compliance with these terms and conditions in the issuance of an LC will ensure prompt
dispatch of your order. If your bank is unable to issue the credit with these instructions, please contact us
providing the information of those areas that need to be altered. This will eliminate needless costs in
amendments and delays in shipments after the credit has been opened.
Please take of the following SPECIAL INSTRUCTIONS:
If you will require that HSI ship to you through your freight forwarder, HSI’s shipping responsibility
ends when the shipment is turned over to your freight forwarder. Therefore, the only acceptable
proof of shipment document the L/C can require is a Freight Forwarder’s Receipt. HSI has no control
over a shipment once it is turned over to your freight forwarder, and HSI will reject any L/C requiring
an airway bill, ocean bill of lading, or any other shipping document prepared by your freight
forwarder.
HSI will not accept terms from any customer that requires us to submit as one of the L/C documents
a customer's executed acceptance certificate of the goods being shipped unless the customer agrees
at its own expense to inspect and accept the goods at HSI’s facility and provide the executed
acceptance certificate prior to shipment.
1.
When opening the latest
ship date
must be a minimum of 90 days after the latest lead-time quoted for
any part on the order, and the ship date must be calculated from the date the L/C is issued, not from
the date of the quote.
2.
The Beneficiary is to be shown as:
Helicopter Support, Inc.
124 Quarry Road
Trumbull, CT 06611
3.
Only an irrevocable letter of credit will be accepted and it must be subject to the Uniform Customs
and Practice (UCP) for the Documentary Credits, 1993 Revision, ICC Publication No 500, or
the eUCP April 2002 by the International Chamber of Commerce (ICC). Authenticated LC sent via
SWIFT To:
ADVISING BANK:
BANK OF AMERICA
SWIFT ID:
BOFAUS3N
Letter of Credit Department
RD
100 WEST 33
STREET
NEW YORK , NEW YORK 10001 USA
If the LC is not advised through BANK OF AMERICA, this will cause a delay in receiving the LC, delay in
shipment, and excessive charges. Therefore the Applicant will need to pay for all charges.
4.
The LC will need to be “freely negotiable” by any bank. If the LC is “restricted” by a different Advising
Bank, the LC will be denied and a new LC will need to be issued.
5.
HSI may require that an L/C be confirmed by a U.S. Bank. If the LC is to be confirmed, it will need to
be confirmed by
BANK OF AMERICA, NEW YORK, NY
USA, charges are for the account of the
applicant.
6.
LC’s are to be payable
“At
Sight.”
7.
LC needs to be drawn/reimbursed through
BANK OF AMERICA, NEW YORK, USA
to debit the issuing
bank’s USD account with
BANK OF
AMERICA. Cable charges for pre-debit-advice or acceptance advice
are for account of applicant.If the LC cannot be Reimbursed through
BANK OF
AMERICA, and a third
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Parent category: Letters