Documents That Can Be Presented For Payment
To receive payment, an exporter or shipper must present the documents required by the letter of credit. Typically, the payee presents a document proving the goods were sent instead of showing the actual goods. The Original Bill of Lading (OBL) is normally the document accepted by banks as proof that goods have been shipped. However, the list and form of documents is open to imagination and negotiation and might contain requirements to present documents issued by a neutral third party evidencing the quality of the goods shipped, or their place of origin or place. Typical types of documents in such contracts might include:
- Financial Documents
- Bill of Exchange, Co-accepted Draft
- Commercial Documents
- Invoice, Packing list
- Shipping Documents
- Transport Document, Insurance Certificate, Commercial, Official or Legal Documents
- Official Documents
- License, Embassy legalization, Origin Certificate, Inspection Certificate, Phytosanitary certificate
- Transport Documents
- Bill of lading (ocean or multi-modal or Charter party), Airway bill, Lorry/truck receipt, railway receipt, CMC Other than Mate Receipt, Forwarder Cargo Receipt, Deliver Challan...etc
- Insurance documents
- Insurance policy, or Certificate but not a cover note.
Read more about this topic: Letter Of Credit
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