Check the terms set forth in L/C No.94625 with the contents of the under-mentioned S/C No.1023 to see what discrepancies between them exist and then write a letter requesting the buyer to make the necessary amendments and extension.

Letter of Credit

THE CHARTERED BANK

Singapore

Irrevocable L/C No.94625

Date:

To China National Import & 

Export Corp.

Shanghai Branch

 

Dear sirs

You are hereby authorized to drawn on Hua Feng Trading Co., Singapore for a sum not exceeding USD7,850.00 CIF (SAY US DOLLARS SEVEN THOUSAND EIGHT HUNDRED AND FIFTY ONLY) available by your draft, drawn in duplicate, on them at sight, accompanied by the following documents:

⦁ 3 non-negotiable copies of clean shipped on board bill of lading, ,marked “Freight prepaid”;

⦁ Signed Invoice in triplicate;

⦁  Certificate of Origin in duplicate;

⦁  Insurance Policy induplicate covering WPA & War for full invoice value plus 10%.

Evidencing shipment from Shanghai to Singapore of the following merchandise:

  500 dozen T-shirts as per S/C No. 1023 dated June 15, 2015. Condition of Shipment:

⦁ Transshipment is prohibited;

⦁ Partial shipments are permitted. 

This credit expire on Aug 18, 2015 and is subject to the Uniform Customs & Practice for Documentary Credits (2007 Revision) International Chamber of Commerce Publication No.600

Yours sincerely

The Chartered Bank

Singapore

Chief Accountant

 

SALES CONFIRMATION NO. 1023

                                            Date: June 15, 20..

The seller: China National                  The buyer: Hua Feng Trading Co.

Import& Export Corp                               Singapore

Shanghai Branch

 

   The undersigned seller and buyer have agreed to close the following transaction according to the terms and conditions stipulated below:

Commodity& Specification Quantity Unit price & terms Total amount

Printed T-shirts:

Designs& color at seller’s option

  Large size

  Medium size

  Small size

 

 

250 dozen

150 dozen

100 dozen

 500 dozen CIF 

  Singapore

 

 USD 21.00

 USD 15.00

 USD 12.50 

 

 

 USD 5,250.00

     2,250.00

     1,250.00  

USD 8,750.00

Total value: USD 8,750.00                     Destination: Singapore

Shipment: During July/August 20..             Insurance: To be effected by the 

Payment: By 100% confirmed& irre-             seller at 110% of invoice value 

vocable L/C to be available by sight              coving WPA &War risk as per

draft, reaching the seller 30days before           China Insurance Clauses(CIC)

the month of shipment, remaining valid 

for negotiation in China for another 21

days after the prescribed time of 

shipment, allowing transshipment &

partial shipments.

 

     The Buyer:                              The Seller:

                                                         

     Signature                               Signature

Answer rating: 100% (QA)

Answer The letter is used to resolve issues make adjustment and to agree at a common point This helps in conveying conditions and assists in avoiding ... View the full answer