CIB Operations
Irrevocable documentary credit application form
IMPORTANT GUIDELINES
The following provides information and instructions to ensure the legal and technical accuracy of the completed application form:
1.
The application form, agreement and surety clause (where applicable) must be signed by the persons duly appointed by the
company.
2.
The authorised signatories must initial any alterations or deletions to this application.
3.
Transhipment must be allowed if a Combined Transport Document is required, i.e. the goods are to be transported in containers.
4.
Avoid naming specific (shipping) ports of loading and discharge if a Combined Transport Document is requested.
5.
Where partial shipments are permitted detail the individual shipment dates wherever possible.
6.
The latest date of shipment plus the presentation period determines the expiry date of the credit.
7.
Stipulate the quantity and / or unit price of the goods. Should any tolerance in the quantity of the goods be allowed ensure that the
same tolerance is applied to the amount (monetary value) of the credit.
NB. Such tolerance cannot apply when the credit calls for a stated number of packing units or individual items.
8.
The number of copies of each document called for in the credit must be stated. (Provide a minimum of two copies of each
document).
9.
BANKS DEAL IN DOCUMENTS ONLY. Ensure that any instruction included in the application form can be verified by means of a
document.
10. Import permits, if applicable, are to be exhibited.
11. CIB Operations contact information:
Cape Town
Durban
East London
East Rand
Johannesburg
Midrand
021 401 2464
031 374 1000
043 711 6444
011 383 7600
011 636 2519
011 207 6209
Port Elizabeth
Pretoria
Sandton
Randburg
Vereeniging
Pietermaritzburg
041 391 2511
012 367 0002
011 881 7300
011 796 8906
016 421 3381
033 328 3218
FOR BANK USE ONLY
General form of application - form 00023692
Merchanting transaction
Yes
No
(select only one)
Import Permit Required
Yes
No
held, dated______________________________
(yyyy-mm-dd)
not held (specific application signed)
No. / Date………………..
Yes
Exchange control approval
Not required
Forward Exchange Contract number
Facility limit
R……………………………………
Insurance Policy Held :
Yes
No
New business
Yes
No
Normal
Charge Table
1
(tick applicable one)
2
3
4
Amount Outstanding
R……………………………………
This credit amount
R……………………………………
Corp Min
- - - - - - - - - - - - - - - - - - - OR; - - - - - - - - - - - - - - - - - - - - - -
New Exposure
R……………………………………
Concession charged at …………….%, Min R …………………
Applicant’s signature(s) verified
Is cash cover held?
Yes
Is this an interest bearing account?
Field 40 E
(Select one only)
023702 20 June 2013
No
Yes
Front office authorised
Signature(s)
No
eUCP
Date…………………………….
The Standard Bank of South Africa Limited Reg. No. 1962/000738/06
Page 1 of 6
Registered Bank
Initials………………………
Date (YYYY-MM-DD)
Branch
Standard Bank account number
Note: The use of singular person (as in “you” and “I”) means the legal entities party to this agreement, where “you” refers to any company,
subsidiary, agent and or affiliate of Standard Bank Group Limited.
I request you to issue on my/our account an irrevocable documentary credit with terms in accordance with this application. I accept liability
for any extra cost that may be incurred resulting from transshipment and/or any loss arising from delay or from any other cause due to such
transshipment, if applicable. I understand this credit will be subject to Uniform Customs and Practices for Documentary Credits (2007
revision), International Chamber of Commerce, publication number 600 and URR 725 (as amended from time to time). I understand that it is
incumbent on me to familiarise myself with the provisions of the Uniform Customs and Practice for Documentary Credits (2007 revision),
International Chamber of Commerce, publication numbers 600 and URR 725 and the amendments thereto.
Applicant Name
For individual, select gender
Applicant’s physical address Street:
(not postal address)
Suburb:
City:
Province:
Zip code:
Country:
Applicant’s postal address,
(including postal code)
Telephone no, fax no. or Email address of applicant
Identity no. of individual or
registration no. of entity
Male
Female
Postal code
Tel no:
Email:
Individual / Entity
Date of birth:
Passport no.(for
individuals) or permit no.
Country of issue
Contact name if entity
VAT and Tax
number of
applicant
Industry sector code
Industrial classification number
Beneficiary Name
Beneficiary’s physical
address
(not postal address)
Street:
Suburb:
City:
Country:
Province:
Zip code:
Beneficiary’s postal address
Telephone no, fax no. or Email address of Beneficiary
Advise through a Standard
Bank Group Limited
subsidiary, agent or affiliate
in the Beneficiary’s country
Documentary credit type
(Select “yes or no” from the
drop down list)
Percentage tolerance
(Plus/ Minus or More/ Less)
Country
E-mail:
Tel. No.
Fax No.
If not, please insert the preferred Advising Bank:
Revolving (select
“cumulative” or
“non-cumulative”)
Irrevocable
Transferable
/
Irrevocable
NonTransferable
%
Currency
Amount
Currency and Amount in
words
Letter of credit amount may
be exceeded to cater for the
following
Available by
Sight Payment
Deferred Payment
Drafts at
Acceptance
Negotiation
Mixed
Drawn on
Payment terms e.g. Sight, 60 days after shipment,
90 days sight, mixed payment, etc.
Shipment Details
Place of Taking in Charge/Dispatch
From/Place of Receipt
023702 20 June 2013
Port of Loading/Airport of
Departure
The Standard Bank of South Africa Limited Reg. No. 1962/000738/06
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Registered Bank
Initials………………………
Place of Final Destination/ For
Transportation To/ Place of
Delivery
Port of Discharge/ Airport of
Destination
Not later than
(YYYY-MM-DD)
Expiry date
Expiry place
Partial shipments
Transshipments
Combined shipments
If partial shipments are permitted, state the latest dates by
which shipments are to be made
Confirmation instructions
Confirm
May add
Charges - Select A for applicant or B for beneficiary
*Note – the charges below refer to the foreign banks charges
Advising
Confirmation
Negotiating
Reimbursing
commission
charges
commission
commission
Without
All other
Charges
utside RSA
Acceptance /
Deferred payment
Discount
Charges
Merchandise description (Attach separate annexure in need)
Documents required (For other documents append separate annexure in need. (Mark your choices with e.g: 3/3 2/3 etc.)
Commercial Invoices for the amount of the drawing showing the incoterm
2010 rules
CIF
CFR
CPT
Other (specify)
(named point)
, value and quantities of the goods,
quoting order / indent number
Sets of clean on board negotiable marine Bills of Lading to order of consignors, endorsed in blank,
marked
or
Freight prepaid
Freight payable at destination
Notify
party
Air Waybill
Packing list
Rail / Road consignment note
Certificate of health
Air / Sea parcel post receipts
Certificate of Origin
Combined transport documents
Certificate of analysis
Safety data sheet
Inspection
Issued by
certificate
Fumigation Certificate
Country
of issue
Other documents required
If you have apportioned documents, please complete the following section:
Beneficiary certificate stating that: One complete set of
are to be forwarded by
Within
documents
days of transport document date
to:
Insurance
Documents
Required
Not required
023702 20 June 2013
Insurance documents (Marine / war risk) endorsed in blank for the full invoice value
%
PLUS
I will arrange for insurance here and undertake to hand to you Policies / Certificates of insurance
approved by you, duly endorsed to you.
The Standard Bank of South Africa Limited Reg. No. 1962/000738/06
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Registered Bank
Initials………………………
Days after the issue of the shipping documents but within the validity of the credit (maximum
21 days)
Documents to be presented within
Other terms and conditions (Attach separate annexure in need)
For an obligation free insurance quote from Standard Bank Insurance Brokers, please indicate yes or no:
Yes
No
Balance of payments (BOP) details – BOP categories and sub-categories list is available on our website
www.standardbank.co.za/bizconnect
BOP category / sub-category
Import Control Number (ICN)
/
Format : BOECCYYMMDDAAA0000000
or
Format : INV000000
Customs Client Number
(CCN)
Format : 12345678
I instruct you to issue as indicated above. I declare that the information provided by me is in all respects both true and correct. I hereby
acknowledge that the bank shall not be liable for errors, omissions, or delays in transmissions arising from circumstances beyond its control.
I hereby declare that:- I have read this document and know and understand the contents thereof;
- The documentation presented in support of this application is in all respects authentic;
- I have been informed of the limits applicable to the above transaction and confirm that this limit will not be exceeded as a result of the
conclusion of this transaction; and
- I consent to this information being provided to the South African Revenue Service and/or Financial Intelligence Centre.
For and on behalf of (Name of
Applicant/ Company)
Signatures – (Signatures
must match specimens on
record at the bank)
Name of signatory(ies)
Capacity
023702 20 June 2013
The Standard Bank of South Africa Limited Reg. No. 1962/000738/06
Page 4 of 6
Registered Bank
Initials………………………
GENERAL CONDITIONS
Note: The use of singular person (as in “you” and “I”) means the legal entities party to this agreement, where “you” refers to any company,
subsidiary, agent and or affiliate of Standard Bank Group Limited.
1. I request you to issue irrevocable documentary credits on my account from time to time in the form used by you. These are to be in
favour of the people, firms or companies whose names and addresses will be provided to you when I need the documentary credits
authorising them to draw only the amounts on the terms that I will in each instance advise you of. This request is subject to my
satisfying the requirements to your satisfaction.
2. I acknowledge and accept that documentary credits may be issued by any company, subsidiary, agent and or affiliate of Standard
Bank Group Limited as you see fit.
3. I agree to the following terms and conditions applying to all documentary credits you issue on my behalf;
3.1.
Where drafts and documents relating to the documentary credits are negotiated at sight, I will pay all amounts paid or payable
by you. You may debit my account in your books whether in credit or otherwise with the South African currency equivalent of
all drawings honoured under the documentary credits when you receive a cable or mail advice. You may also recover from
this account the associated telecommunication costs.
3.2.
Where in terms of the documentary credits, drafts and/or documents are drawn upon you or your agents at a usance, I will
provide funds to you at maturity to meet your obligations or those of your agent to make payment under the documentary
credits. You may debit my account whether in credit or otherwise with the South African currency equivalent of each drawing
honoured under the documentary credits on the maturity of the drawing.
3.3.
If I make the payment after the date on which the drawings were paid, interest at your ruling rate for these transactions may
also be debited to my account, for the period between your payment and reimbursement by me plus two business days.
3.4.
The rates of exchange at which the drawings will be converted to South African currency will be your ruling selling rate of
exchange for the foreign currency on the date payments are to be debited to my account or on the date you are able to sell me
the foreign currency to cover the drawings under documentary credits issued. Where I take out a forward exchange contract
with you to cover the foreign currency amount of drawings, the drawings will be converted to South African currency at the
contract rate. I will inform you that conversion is to be effected at the contract rate.
3.5.
If you hand me the documents for the purpose of clearing and releasing the relative goods or for any purpose before
settlement by me of the drawings, I will hold the documents and/or goods on your behalf and will account to you for the
proceeds.
3.6.
Provided the documents tendered purport to comply with the terms of the credits neither you nor your agents need to
investigate their validity and you will not be responsible for the genuineness of the documents. I agree in the acceptance of the
documents as relating to the goods, and you will not be responsible in the event of any misrepresentation in the documents.
3.7.
I shall at all times be liable to maintain insurance in full force and effect over the goods against all risks for an amount at least
equal to the amount of the irrevocable documentary credit. I undertake that I shall be liable for all costs and risks assumed
in connection with the aforesaid insurance
3.8.
I will not hold you responsible for any default of the insurers or for the sufficiency of the any policies under which the goods are
insured, provided the policies ostensibly comply with the documentary credit. I will hold the amount for which the goods are
insured available to you until I make payment.
3.9.
Where documentary credits are cash-covered, you will not seek confirmation of insurance over the goods.
3.10. Should I not meet any of your requirements, you may land, receive and insure the goods, and sell the entire shipment for my
account and risk by public auction or as you think fit and proper. Doing so will not prejudice any of your rights. After deducting
payments for freight, insurance, commission and all charges you may either credit my account with the net proceeds or apply
the proceeds to the payment of the drawings honoured under the documentary credits. I undertake to deliver to you the
documents as may be required by law or usage to enable you to land, receive and insure the goods.
3.11.
I understand that you may provide me with a Marine Insurance product tailor made for my requirements, the product of which
is underwritten by Standard Insurance Limited and distributed by Standard Bank Insurance Brokers who may be contacted for
an obligation free quote on 0860 999 334.
3.12. If the goods are sold, you may take a commission of 2.5% of the gross proceeds in addition to your usual commission when
you have paid the usual commission, fees or other charges to agents, brokers or others you may employ. I will further pay on
demand any shortfall. You may collect any amounts due or to become due under the marine or other insurance cover
necessary.
3.13. All risks arising out of, or consequent to, the issue of the documentary credits are to be borne by me alone and I undertake to
discharge all the liabilities.
3.14. I hereby indemnify and hold you harmless against any loss or damage of whatsoever nature, which you may suffer or sustain
arising from, or relating to, the issue of documentary credits.
3.15. I hereby further indemnify and hold you harmless against any and all liability, losses or damages of whatsoever nature
(including reputational loss and damage), which you may suffer or sustain arising from, or relating to, the issue of
documentary credits in contravention of OFAC, EU, UN and HMT sanctions.
3.16. For purposes of paragraph 3.15 above, “OFAC, EU, UN and HMT Sanctions” mean sanctions imposed from time to time by
Office of Foreign Assets Control of the Department of Treasury of the United States of America (“OFAC”), European Union
(“EU”), United Nations (“UN”) and Her Majesty’s Treasury of the United Kingdom (“HMT”) relating to, but not limited to entities,
parties, shipping lines, carriers, vessels, multimodal transport operators, freight forwarders, agents at the port of discharge and
agents of any related party.
3.17. I hereby specifically indemnify and hold you harmless against any and all liability, losses or damages of whatsoever nature
(whether direct, indirect and/or consequential), which you may suffer as a result of any and all funds being frozen, blocked
and/or seized in any jurisdiction or which you may suffer as a result of any claim, demand and action made against you. For
avoidance of doubt, I waive and renounce all rights, actions or circumstances whatsoever which might constitute a defense. I
hereby waive any rights which I may have or obtain against you arising directly or indirectly from any losses or damages of
whatsoever nature which I may suffer relating to the issue of documentary credits in contravention of OFAC, EU, UN and HMT
sanctions.
3.18. The documentary credits are irrevocable unless the prior consent of all interested parties is obtained to the revocation.
3.19. For the issue of the documentary credits I agree to pay commission at your usual rates, and you may debit my account. I can
claim no refund if the facility is not used or any amounts are not drawn.
3.20. I undertake to deposit with you the amounts you may require. These will be accounted for to me when all your claims in
respects of the documentary credits have been met.
3.21. Any notification and service charges imposed by correspondents and negotiating banks are for my account.
3.22. I agree that the documentary credits are subject to Uniform Customs and Practice for Documentary Credits, published by the
International Chamber of Commerce, in force from time to time. I understand that it is my responsibility to keep myself apprised
of the Uniform Customs and Practice for Documentary Credits in force from time to time.
By putting our names and signatures to this agreement, the company (natural and legal persons included) on whose behalf we act will be
bound by it and considered to be party to it.
023702 20 June 2013
The Standard Bank of South Africa Limited Reg. No. 1962/000738/06
Page 5 of 6
Registered Bank
Initials………………………
For and on behalf of
Signatures – (Signatures
must match specimens on
record at the bank)
Name of signatories
Capacity
Date signed
Surety
I/We the undersigned
In my/our capacity (ies) as
of (Company name)
Duly authorised thereto by resolution of the Board of Directors of the Company passed on the
day of
20
Hereby bind myself/ourselves/the Company as surety in solidum and co-principal debtor to The Standard Bank of South Africa Limited,
under renunciation of the benefits of excussion and/or division for the due fulfilment of the aforegoing agreement.
Signed on this
day of
20
For and on behalf of
Signatures – (Signatures
must match specimens on
record at the bank)
Name of Signatories
Capacity
023702 20 June 2013
The Standard Bank of South Africa Limited Reg. No. 1962/000738/06
Page 6 of 6
Registered Bank
Initials………………………