Terms for payment by documentary credit

TERMS FOR PAYMENT BY DOCUMENTARY CREDIT AT 90 DAYS AFTER SIGHT


1) D/C must be opened irrevocably by SWIFT payable at 90 days after shipment date to the bank specified below.
D/C must allow T/T reimbursement.
D/C must be confirmed (by the bank specified below).

2) All banking charges must be for the account of the applicant.

3) Terms of delivery: Ex warehouse Copenhagen, Denmark.
 

4) Transshipment and partial shipments must be allowed.
 

5) Period of presentation: Minimum 10 days.
 

6) Interest will be charged from receipt of the D/C until the value date of payment to the auction house. It must be a condition under the D/C that this interest amount may be drawn in excess of the D/C amount.

7) Shipment by air freight: Copy of house airway bill required
Shipment by truck: Copy of forwarding agent’s certificate of receipt required
 

8) Banks required:
Nordea Bank Danmark A/S
Trade Finance
P.O. Box 850
DK-0900 Copenhagen C
SWIFT: NDEADKKK

 

Please state invoice number(s) in the D/C terms.

 

D/Cs must be opened according to Uniform Customs and Practice UCP 600.

 

Approved banks

 

CHINA SWIFT   KOREA SWIFT
Agricultural Bank Of China ABOCCNBJ      Citibank Korea Inc CITIKRSX     
Agricultural Devel. Bank Of China ADBNCNBJ        Industrial Bank Of Korea IBKOKRSE    
Bank Of China BKCHCNBJ      Jpmorgan Chase Bank N.A. CHASKRSX     
Bank Of Communications Co.,ltd COMMCNSH       Keb Hana Bank KOEXKRSE    
Bank Of East Asia (china), Shanghai BEASCNSH        Kookmin Bank CZNBKRSE    
Bank Of Montreal (china) Co. Ltd BOFMCNBJ        Mizuho Corporate Bank Ltd, Seoul Br MHCBKRSE     
China Construction Bank Corporation PCBCCNBJ        Nonghyup Bank (nh Bank) NACFKRSE     
China Development Bank SDBCCNBJ        Shinhan Bank SHBKKRSE     
China Merchants Bank CMBCCNBS       Societe Generale SOGEKRSE     
Citibank (china) Co. Ltd CITICNSX        Standard Chartered Bank Korea Ltd SCBLKRSE     
Dbs Bank (china) Limited DBSSCNSH        The Korea Development Bank KODBKRSE     
Deutsche Bank (china) Co Ltd DEUTCNBJ        Woori Bank HVBKKRSE   
Deutsche Bank Ag Shanghai Branch DEUTCNSH           
Hsbc Bank (china) Company Limited HSBCCNSH           
Industr. And Comm.Bank Of China Ltd ICBKCNBJ          
Kbc Bank Nv KREDCNSX           
Mega International Commercial Bank ICBCCNBS           
Shanghai Pudong Development Bank SPDBCNSH           
Skandinaviska Enskilda Banken Ab ESSECNSH           
Standard Chartered Bank (china) Ltd SCBLCNSX           
Svenska Handelsbanken Ab HANDCNSH           
Swedbank Shanghai Branch SWEDCNSH          
The Export-Import Bank Of China EIBCCNBJ           
Westpac Banking Corporation Shangha WPACCNSX           

 

TERMS FOR PAYMENT BY DOCUMENTARY CREDIT

1) D/C must be opened irrevocably by SWIFT payable at sight to the banks specified below.
D/C must allow T/T reimbursement.

D/C must be confirmed (by the bank specified below).
2) All banking charges must be for account of applicant.

3) Terms of delivery: Ex warehouse Copenhagen, Denmark.

4) Transshipment and partial shipments must be allowed.

5) Period of presentation: Minimum 10 days.

6) It must be a condition under the D/C that interest from prompt-day until value date of payment to the auction house may be drawn in excess of the D/C amount.

7) Shipment by air freight: Copy of house airway bill required
Shipment by truck: Copy of forwarding agent's certificate of receipt required

8) Bank required:

Nordea Bank Danmark A/S
Trade Finance
P.O. Box 850
DK-0900  Copenhagen C
SWIFT: NDEADKKK
  
Please state invoice number(s) in the D/C terms.

D/Cs must be opened according to Uniform Customs and Practice UCP 600.