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1) Sales Contract 1) Sales Contract Importer or Buyer Importer or Buyer

The document outlines the letter of credit workflow involving an exporter, importer, issuing bank, advising/confirming bank, and reimbursement bank. It shows the steps of the sales contract, letter of credit request, issuance, advising, shipment of goods, presentation of documents, payment, and reimbursement.

Uploaded by

Altaf Ur Rehman
Copyright
© © All Rights Reserved
Available Formats
Download as PPS, PDF, TXT or read online on Scribd
47 views

1) Sales Contract 1) Sales Contract Importer or Buyer Importer or Buyer

The document outlines the letter of credit workflow involving an exporter, importer, issuing bank, advising/confirming bank, and reimbursement bank. It shows the steps of the sales contract, letter of credit request, issuance, advising, shipment of goods, presentation of documents, payment, and reimbursement.

Uploaded by

Altaf Ur Rehman
Copyright
© © All Rights Reserved
Available Formats
Download as PPS, PDF, TXT or read online on Scribd
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M.W.

1) SALES CONTRACT
EXPORTER
OR
BENEFICIARY

5)
GOODS

CARRIER

5)
GOODS

IMPORTER
OR BUYER

O
D
6)
CU

6) BILL OF
LADING,TRUCK,RAI
LAND AIRWAY BILL

M
EN
TS

2)REQUEST
L/C

4) L/C

FREIGHT
FORWARD

C
O
D
6)

8) DOCUMENTS

TS
N
E
M
U
8)
DOCUMENTS

ADVISING/CONFIRMIN

ISSUING
BANK

7)
PA
YM

IMRAN

3) L/C ISSUANCE
INSTRAUCTIONS
EN
T

REIMBURSEMENT
BANK

G BANK
7)
PA
YM
EN

7)PAYMENT

L/C WORKING FLOW

Letter of Credit

Documentational
Flow Chart

9
9)) PAYS
PAYS AND
AND
TAKES
TAKES DELIVERY
DELIVERY
OF
OF DOCUMENTS
DOCUMENTS

ADVISITING
BANK/CONFIRMING BANK

3) ISSUES AND FORWARDS


THE LETTER OF CREDITS
BUYER`S BANK/IUSSING
BANK

2)APPLIES TO HIS BANKER TO


ISSUE THE LETTER OF CREDIT

BUYER /APPLICANT

8)
8) PRESENTS
PRESENTS
DOCUMENTS
DOCUMENTS
FOR
FOR PAYMENT
PAYMENT

5)
5) SHIP
SHIP GOODS
GOODS IN
IN COPILANCE
COPILANCE WITH
WITH LC
LC TERMS
TERMS

7)
7)
FORWARDS
FORWARDS
DOCUMENT
DOCUMENT
S
S

11)
11) CREDITS
CREDITS
SELLER`S
SELLER`S
ACCOUNT
ACCOUNT WITH
WITH
NET
NET PROCEEDS
PROCEEDS

4) ADVISES ISSUANCE AND


FORWARDS THE ORIGNALS
LETTER OF CREDIT

6)
6) PRESENTS
PRESENTS
DOCUMENTS
DOCUMENTS AND
AND
PAYMENT
PAYMENT
INSTRUCTION
INSTRUCTION FOR
FOR
NEGOTIATION
NEGOTIATION

10)
10) REMITS
REMITS
PROCEEDS
PROCEEDS
LESS
LESS APLICANT
APLICANT
CHARGES
CHARGES

1)
1) CONTRACT
CONTRACT OF
OF SALES
SALES EXECUTED
EXECUTED BY
BY BOTH
BOTH PARTIES
PARTIES

SELLER/BENEFICIARY

Import Declaration must be filed to the customs house which is in charge of


the district where the goods are stored by EDI method with specifications
of the goods under the name of cargo owner, customs broker, and customs
brokerage firm.
Declaration must be written on an import declaration form stating the
description of the goods as well as quantity, value and other particulars
required.

The form is required to be attached with following


supporting documents:
1.Import license (for goods which requires this to be imported)
2.Invoice
3.Price declaration
4.B/L (Bill of Lading)
5.Proofs that requirements have been satisfied under Customs Act
6.Packing List
7.Certificate of Origin
8.Application for Duty exemption/abatement, preferential tariff rate,
etc(in case where they are available)
1.Documentary Check-up
2.Cargo Inspection
3.Declaration Acceptance
4.Post Audit on Duty Amount

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