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  • Application For Irrevocable Documentary Credit - Maybank

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APPLICATION FOR IRREVOCABLE DOCUMENTARY CREDIT To : Date (dd/mm/yyyy) Click to select branch 1. Applicant 's Name and Address 2. Beneficiary 's Name and Address Contact Person Contact Person Telephone.

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Neither the financial institution nor the offeror/Contractor can revoke or condition the letter of credit.

Documentary credits are often used when the parties to an international trade do not know each other and the exporter does not want to send goods to the importer without being sure that payment will be made.

An irrevocable letter of credit cannot be canceled, nor in any way modified, except with the explicit agreement of all parties involved: the buyer, the seller, and the issuing bank. For example, the issuing bank does not have the authority by itself to change any of the terms of an ILOC once it is issued.

The Applicant is the person or company who has requested the letter of credit to be issued; this will normally be the buyer. The Beneficiary is the person or company who will be paid under the letter of credit; this will normally be the seller (UCP600 Art.

Documents required for a Letter of Credit Shipping Bill of Lading. Airway Bill. Commercial Invoice. Insurance Certificate. Certificate of Origin. Packing List. Certificate of Inspection.

A documentary credit is a method of payment that protects both the seller (exporter) and the buyer (importer) in a contract of sale. In the case of the seller, it gives a guarantee (usually issued by the buyer's bank on his request) that the seller will receive payment after the shipment of goods had been fulfilled.

Field 40A: Form of Documentary Credit is a field in MT 700 swift message that is used to indicate the form of the letter of credit. This is a mandatory field, which means that it must be stated in all of the letters of credit issued via MT 700 swift format. This field specifies the type of credit.

A Documentary Credit (“D/C”) also known as Letter of Credit (“L/C”) is a method of payment where the buyer's bank guarantees payment to the seller with the condition that the seller has to fulfil the terms specified in the L/C.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Content Takedown Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232