The Letter of Credit Processing Sheet is used as a cover letter to transmit the beneficiary's letter of credit to Quality Letters of Credit, Inc. (QLC) for processing. Processing includes: generating the negotiable document set, letter of credit negotiation and payment, and letter of credit management via the Internet. The Letter of Credit Processing Sheet also instructs the paying bank were to wire transfer the letter of credit proceeds.
Definition of a Letter of Credit Processing Sheet
The cover letter used to convey a Letter of Credit to "Quality Letters of Credit, Inc." for processing.
Purpose of a Letter of Credit Processing Sheet
The Letter of Credit Processing Sheet provides the essential information to Quality Letters of Credit, Inc. to include: Letter of Credit number; Issuing Bank; Beneficiary's address; Beneficiary's wire instructions; freight forwarder; and tracking notification.
Process for a Letter of Credit Processing Sheet
The Letter of Credit Processing Sheet is used to send the Letter of Credit to Quality Letters of Credit, Inc. for document generation and paying bank negotiation.
| Fields for a Letter of Credit Processing Sheet | ||
| 1 | SEND TO | Quality Letters of Credit, Inc. |
| 2 | FROM | Beneficiary of the Letter of Credit |
| 3 | LETTER OF CREDIT NO | Issuing Bank's assigned letter of credit number |
| 4 | BENEFICIARY'S INFORMATION | Beneficiary's name and address |
| 5 | BENEFICIARY'S WIRE INSTRUCTIONS | To whom and where to wire the proceeds |
| 6 | FREIGHT FORWARDER INFORMATION | The freight forwarder arranging the shipping, and responsible for the Bill of Lading. |
| 7 | Fax | Send a copy of the Letter of Credit Processing Sheet to for tracking. |
