Common Elements Used to Manage Letters of Credit

Amend Nbr (amendment number)

If the letter of credit is amended and approved, this field displays the most recent valid amendment number and amend date.

Bank L/C Number (bank letter of credit number)

Displays the reference number that the issuing bank gives to a letter of credit.

Last Shipment

Displays the latest date on which transportation for the goods that are described in the letter of credit can arrive at the final destination.

L/C Type (letter of credit type)

Indicates the kind of letter of credit that a bank issued. Values are: Back to Back, Deferred Payment, Government, Other, Red Clause, Revolving, Standby, Transferable, or Traveler's.

Letter of Credit Status

Select a value:

Cancelled: One or both parties have canceled the letter of credit.

Expired: The letter of credit is expired.

Incorporated into Another L/C: The letter of credit is incorporated into another letter of credit.

Open: The letter of credit is open and active.

Open But Past Expiration: The letter of credit is past the expiration date, but is still open by agreement between both parties.

Request Made to Issuing Bank: The letter of credit has been requested by the buyer to his or her bank.

Requested By Internal Unit: An internal unit has requested the letter of credit.

Container Shipment, Partial Shipment, Air Shipment, and Transhipment

For all shipment fields, indicate the allowable transportation methods. Values are: Not Permit (not permitted), Permitted, or Required.

Advise By

Specify either Air & Cable (air and cable), Airmail, Cable, Fax, Telex, or Wires.

Letter of Credit Document

Select a value:

Air Insurance: Insurance for shipping goods by air.

Airway Bill: Bill of lading for shipping goods by air.

Bill of Lading: Generic bill of lading for any shipping purpose.

Certificate of Origin: Document certifying a good's country of origin.

Commercial Invoice: A commercial invoice.

Customs Documents: Document for processing goods through a country's custom agency.

Marine Insurance: Insurance for shipping overseas.

Ocean Bill of Lading: Bill of lading for shipping goods overseas.

Railroad Bill of Lading: Bill of lading for shipping goods by rail.

Special Customs Invoice: A special customs invoice.

Truck Bill of Lading: Bill of lading for shipping goods by truck.

War Risk Insurance: Insurance for shipping goods through areas of war or political unrest.