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is there a standard FORM to be used to submit DRAFT?

Wed, 12/03/2008 - 08:40 — dean

i am new to LCs.  i submitted the docs to the issuing bank per LC requiremnts.  The bank came back with approved discrepancies and now is asking me for the below:

"PLEASE PRESENT A REVISED DRAFT WITHIN 7 DAYS, DRAWN AT 35 DAYS SIGHT, FOR

USD xxxxxx.xx TO THE BANK OF NEW YORK MELLON, NEW YORK AND ENDORSED."

 

is there a standard form to use for this DRAFT or it is simply a lettere asking them to credit my accouint.

 

Best Regards,

 

 

‹ PHOTOCOPY B/L shipment on deck ›
Sat, 12/06/2008 - 16:40 — Frammi

bill of exchange form

Even if a bill of exchange form should be known to anyone doing business, your bank could really assist you in this matter. Many banks take it as a service to furnish you with prepared bills of exchange when advising the credit. You only have to fill in the amount in figures and words, sign and endorse it and that's it.

Confidentially speaking, it makes things much easier to write a bill  of exchange than to explain it and get it corrected once or twice.

   -Each long journey starts with a small step-

Best regards

Frammi

Thu, 12/04/2008 - 12:22 — Tolga Ertike

Draft Characteristics

It seems in above quoted clause bank sent to you that you did not state "at 35 days" and you did not endorse the draft (maybe also bank name and amount in error?). There is no any standard template for drafts but their characteristics could be called standard as admin helped you in sample docs.

Regards,

 

tolgaertike@ttmail.com

Wed, 12/03/2008 - 10:40 — Peter M

Draft

Hi Dean - A Draft is just another name for a Bill of Exchange - you can find examples by Googling Bill of Exchange.

From your message above it appears that your buyer is also requesting an extra 35 days to pay after he has received your replacement Bill of Exchange - Had you agreed to this?

Thu, 12/04/2008 - 11:16 — admin

Our sample docs collection

Please check out our Sample Docs and let me know whether you have a document that warrants inclusion

Thu, 12/04/2008 - 12:11 — dean

Draft

Hi Peter and Admin,

thanks for your help.  Bill of Exchange explanation was very helpful.  i searched online and found the below form to be workable.  i hope the bank i am dealing with would agree.  will confirm in few days.  attached is the link.  http://www.calbanktrust.com/Products/products/ibg/jpdfs/Bank%20Draft%200104.pdf

 

thanks again

 

dean