CIB Operations Irrevocable documentary credit application form

Transcription

1 CIB Operations Irrevocable documentary credit application form IMPORTANT GUIDELINES The following provides information and instructions to ensure the legal and technical accuracy of the completed application form; 1. The application form, agreement and surety clause (where applicable) must be signed by the persons duly appointed by the company. 2. The authorised signatories must initial any alterations or deletions to this application. 3. Transhipment must be allowed if a Combined Transport Document is required, i.e. the goods are to be transported in containers. 4. Avoid naming specific (shipping) ports of loading and discharge if a Combined Transport Document is requested. 5. Where partial shipments are permitted detail the individual shipment dates wherever possible. 6. The latest date of shipment plus the presentation period determines the expiry date of the credit. 7. Stipulate the quantity and / or unit price of the goods. Should any tolerance in the quantity of the goods be allowed ensure that the same tolerance is applied to the amount (monetary value) of the credit. NB. Such tolerance cannot apply when the credit calls for a stated number of packing units or individual items. 8. The number of copies of each document called for in the credit must be stated. (Provide a minimum of two copies of each document). 9. BANKS DEAL IN DOCUMENTS ONLY. Ensure that any instruction included in the application form can be verified by means of a document. 10. Import permits, if applicable, are to be exhibited. 11. CIB Operations contact information: Cape Town Port Elizabeth Durban Pretoria East London Sandton East Rand Randburg Johannesburg Vereeniging Midrand Pietermaritzburg FOR BANK USE ONLY General form of application - form (select only one) Merchanting transaction Yes No Import Permit Required Yes No held dated (yyyy-mm-dd) not held (specific application signed) Exchange control required Yes No No/Date.. Forward Exchange Contract number Insurance Policy Held : Yes No New business Yes No Facility limit Amount Outstanding This credit amount New Exposure Normal (tick applicable one) Charge Table Corp Min OR; Concession charged at.%, Min R Is cash cover held? Yes No Applicant s signature(s) verified Front office authorised Signature(s) Is this an interest bearing account? Yes No Field 40 E (Select one only) eucp Date June 2013 The Standard Bank of South Africa Limited Reg. No. 1962/000738/06 Registered Bank Page 1 of 6

2 Date (YYYY-MM-DD) Branch Standard Bank account number Note: The use of singular person (as in you and I ) means the legal entities party to this agreement, where you refers to any company, subsidiary, agent and or affiliate of Standard Bank Group Limited. I request you to issue on my/our account an irrevocable documentary credit with terms in accordance with this application. I accept liability for any extra cost that may be incurred resulting from transshipment and/or any loss arising from delay or from any other cause due to such transshipment, if applicable. I understand this credit will be subject to Uniform Customs and Practice for Documentary Credits (2007 revision), International Chamber of Commerce, publication numbers 600 and URR 725 (as amended from time to time). I understand that it is incumbent on me to familiarise myself with the provisions of the Uniform Customs and Practice for Documentary Credits (2007 revision), International Chamber of Commerce, publication numbers 600 and URR 725 and the amendments thereto. Applicant Name For individuals - select gender Male Female Applicant s physical address (not postal address) Street: Suburb: City: Country: Province: Zip code: Telephone, fax no. or E- mail address of applicant Identity no. of individual or registration no. of entity Passport (for individuals) or permit no. Contact name if entity Beneficiary Name Tel no: Date of birth: VAT and Tax number of applicant Individual / Entity/ Exception Country of issue Beneficiary s physical address (Not Postal Address) Beneficiary s postal address Street: Suburb: City: Country: Province: Zip code: Country Beneficiary Tel. No. Fax No. Advise through a Standard Bank Group Limited subsidiary, agent or affiliate in the Beneficiary s country Documentary credit type (Select yes or no from the drop down list) Percentage tolerance (Plus/Minus or More/ Less) Currency Currency and Amount in words Letter of credit amount may be exceeded to cater for the following Irrevocable Transferable / % Amount Revolving (select cumulative or non-cumulative ) If not, please insert the preferred Advising Bank: Irrevocable Non- Transferable Available by Sight Payment Deferred Payment Acceptance Negotiation Mixed Drafts at Payment terms e.g. Sight, 60 days after shipment, 90 days sight, mixed payment, etc. Drawn on Shipment Details Place of Taking in Charge/Dispatch From/Place of Receipt Port of Discharge/Airport of Destination Port of Loading/Airport of Departure Place of Final Destination/For Transportation To/Place of Delivery Page 2 of 6

3 Not later than (YYYY-MM-DD) Expiry date Expiry place Partial shipments Transshipments Combined shipments If partial shipments are permitted state the latest dates by which shipments are to be made Confirmation instructions Confirm May add Without Charges - Select A for applicant or B for beneficiary *Note the charges below refer to the foreign banks charges Advising commission Confirmation charges Negotiating commission Reimbursing commission All other Charges utside RSA Acceptance / Deferred payment Discount Charges Merchandise description (Attach separate annexure in need) Please initial this page: Documents required (For other documents append separate annexure in need. (Mark your choices with e.g.: 3/3 2/3 etc.) (named point) Commercial Invoices for the amount of the drawing showing the incoterm 2010 rules quoting order / indent number CIF CPT CFR Other (specify), value and quantities of the goods, Sets of clean on board negotiable marine Bills of Lading to order of consignors, endorsed in blank, marked Freight prepaid or Freight payable at destination Notify party Air Waybill Rail / Road consignment note Air / Sea parcel post receipts Combined transport documents Safety data sheet Inspection certificate Other documents required Issued by Packing list Certificate of health Certificate of Origin Certificate of analysis Fumigation Certificate Country of issue If you have apportioned documents please complete the following section: Beneficiary certificate stating that: One complete set of are to be forwarded by Within days of transport document date to: documents Insurance Required Insurance documents (Marine / war risk) endorsed in blank for the full invoice value PLUS % Page 3 of 6

4 Documents Not required Documents to be presented within Other terms and conditions (Attach separate annexure in need) I will arrange for insurance here and undertake to hand to you Policies / Certificates of insurance approved by you, duly endorsed to you. Days after the issue of the shipping documents but within the validity of the credit (maximum 21 days) For an obligation free insurance quote from Standard Bank Insurance Brokers, please indicate yes or no: Yes No Balance of payments (BOP) category Import Control Number (ICN) sub-category Format : BOECCYYMMDDAAA or Format : INV A comprehensive list of all BOP categories and subcategories is available on request Customs Client Number (CCN) Format : I instruct you to issue as indicated above. I declare that the information provided by me is in all respects both true and correct. I hereby acknowledge that the bank is not liable for errors, omissions, or delays in transmissions arising from circumstances beyond its control. I hereby declare that:- - I have read this document and know and understand the contents thereof; - The documentation presented in support of this application is in all respects authentic; - I have been informed of the limits applicable to the above transaction and confirm that this limit will not be exceeded as a result of the conclusion of this transaction; and - I consent to this information being provided to the South African Revenue Service and/or Financial Intelligence Centre. For and on behalf of (Name of Applicant/ Company) Signatures (Signatures must match specimens on record at the bank) Name of signatories Capacity Page 4 of 6

5 GENERAL CONDITIONS Note: The use of singular person (as in you and I ) means the legal entities party to this agreement, where you refers to any company, subsidiary, agent and or affiliate of Standard Bank Group Limited. 1. I request you to issue irrevocable documentary credits on my account from time to time in the form used by you. These are to be in favour of the people, firms or companies whose names and addresses will be provided to you when I need the documentary credits authorising them to draw only the amounts on the terms that I will in each instance advise you of. This request is subject to my satisfying the requirements to your satisfaction. 2. I acknowledge and accept that documentary credits may be issued by any company, subsidiary, agent and or affiliate of Standard Bank Group Limited as you see fit. 3. I agree to the following terms and conditions applying to all documentary credits you issue on my behalf; 3.1. Where drafts and documents relating to the documentary credits are negotiated at sight, I will pay all amounts paid or payable by you. You may debit my account in your books whether in credit or otherwise with the South African currency equivalent of all drawings honoured under the documentary credits when you receive a cable or mail advice. You may also recover from this account the associated telecommunication costs Where in terms of the documentary credits, drafts and/or documents are drawn upon you or your agents at a usance, I will provide funds to you at maturity to meet your obligations or those of your agent to make payment under the documentary credits. You may debit my account whether in credit or otherwise with the South African currency equivalent of each drawing honoured under the documentary credits on the maturity of the drawing If I make the payment after the date on which the drawings were paid, interest at your ruling rate for these transactions may also be debited to my account, for the period between your payment and reimbursement by me plus two business days The rates of exchange at which the drawings will be converted to South African currency will be your ruling selling rate of exchange for the foreign currency on the date payments are to be debited to my account or on the date you are able to sell me the foreign currency to cover the drawings under documentary credits issued. Where I take out a forward exchange contract with you to cover the foreign currency amount of drawings, the drawings will be converted to South African currency at the contract rate. I will inform you that conversion is to be effected at the contract rate If you hand me the documents for the purpose of clearing and releasing the relative goods or for any purpose before settlement by me of the drawings, I will hold the documents and/or goods on your behalf and will account to you for the proceeds Provided the documents tendered purport to comply with the terms of the credits neither you nor your agents need to investigate their validity and you will not be responsible for the genuineness of the documents. I agree in the acceptance of the documents as relating to the goods, and you will not be responsible in the event of any misrepresentation in the documents I shall at all times be liable to maintain insurance in full force and effect over the goods against all risks for an amount at least equal to the amount of the irrevocable documentary credit. I undertake that I shall be liable for all costs and risks assumed in connection with the aforesaid insurance 3.8. I will not hold you responsible for any default of the insurers or for the sufficiency of the any policies under which the goods are insured, provided the policies ostensibly comply with the documentary credit. I will hold the amount for which the goods are insured available to you until I make payment Where documentary credits are cash-covered, you will not seek confirmation of insurance over the goods Should I not meet any of your requirements, you may land, receive and insure the goods, and sell the entire shipment for my account and risk by public auction or as you think fit and proper. Doing so will not prejudice any of your rights. After deducting payments for freight, insurance, commission and all charges you may either credit my account with the net proceeds or apply the proceeds to the payment of the drawings honoured under the documentary credits. I undertake to deliver to you the documents as may be required by law or usage to enable you to land, receive and insure the goods I understand that you may provide me with a Marine Insurance product tailor made for my requirements, the product of which is underwritten by Standard Insurance Limited and distributed by Standard Bank Insurance Brokers who may be contacted for an obligation free quote on If the goods are sold, you may take a commission of 2.5% of the gross proceeds in addition to your usual commission when you have paid the usual commission, fees or other charges to agents, brokers or others you may employ. I will further pay on demand any shortfall. You may collect any amounts due or to become due under the marine or other insurance cover necessary All risks arising out of, or consequent to, the issue of the documentary credits are to be borne by me alone and I undertake to discharge all the liabilities I hereby indemnify and hold you harmless against any loss or damage of whatsoever nature, which you may suffer or sustain arising from, or relating to, the issue of documentary credits I hereby further indemnify and hold you harmless against any and all liability, losses or damages of whatsoever nature (including reputational loss and damage), which you may suffer or sustain arising from, or relating to, the issue of documentary credits in contravention of OFAC, EU, UN and HMT sanctions For purposes of paragraph 3.15 above, OFAC, EU, UN and HMT Sanctions mean sanctions imposed from time to time by Office of Foreign Assets Control of the Department of Treasury of the United States of America ( OFAC ), European Union ( EU ), United Nations ( UN ) and Her Majesty s Treasury of the United Kingdom ( HMT ) relating to, but not limited to entities, parties, shipping lines, carriers, vessels, multimodal transport operators, freight forwarders, agents at the port of discharge and agents of any related party I hereby specifically indemnify and hold you harmless against any and all liability, losses or damages of whatsoever nature (whether direct, indirect and/or consequential), which you may suffer as a result of any and all funds being frozen, blocked and/or seized in any jurisdiction or which you may suffer as a result of any claim, demand and action made against you. For avoidance of doubt, I waive and renounce all rights, actions or circumstances whatsoever which might constitute a defense. I hereby waive any rights which I may have or obtain against you arising directly or indirectly from any losses or damages of whatsoever nature which I may suffer relating to the issue of documentary credits in contravention of OFAC, EU, UN and HMT sanctions The documentary credits are irrevocable unless the prior consent of all interested parties is obtained to the revocation For the issue of the documentary credits I agree to pay commission at your usual rates, and you may debit my account. I can claim no refund if the facility is not used or any amounts are not drawn I undertake to deposit with you the amounts you may require. These will be accounted for to me when all your claims in respects of the documentary credits have been met Any notification and service charges imposed by correspondents and negotiating banks are for my account I agree that the documentary credits are subject to Uniform Customs and Practice for Documentary Credits, published by the International Chamber of Commerce, in force from time to time. I understand that it is my responsibility to keep myself apprised of the Uniform Customs and Practice for Documentary Credits in force from time to time. By putting our names and signatures to this agreement, the company (natural and legal persons included) on whose behalf we act will be bound by it and considered to be party to it. Page 5 of 6

6 For and on behalf of Signatures (Signatures must match specimens on record at the bank) Name of signatories Capacity Date signed Surety I/We the undersigned In my/our capacity (ies) as of (Company name) Duly authorised thereto by resolution of the Board of Directors of the Company passed on the day of 20 Hereby bind myself/ourselves/the Company as surety in solidum and co-principal debtor to The Standard Bank of South Africa Limited, under renunciation of the benefits of excussion and/or division for the due fulfilment of the aforegoing agreement. Signed on this day of 20 For and on behalf of Signatures (Signatures must match specimens on record at the bank) Name of Signatories Capacity Page 6 of 6