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Letter of Credit - Urgent

nafis (Account Executive) (48 Points)

16 November 2007

Can any one send me Procedure & Format of Letter of credit with bank.
nafis_naf_na @ yahoo.co.in

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6 Replies

Prakash Popat (3134 Points)
Replied 16 November 2007

Depend upon Your Bankers,and your Past performance with Bankers Banker's may grant you Letter of credit with or without margin,Procedure parts will taken care of by your bankers.

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CA. Dashrath Maheshwari (TaXpert) (15103 Points)
Replied 16 November 2007

Be clear that u require format of FLC or ILC and plz write the name of bank where you wanna open the same.

SUDHIR BANSAL (senior accountant) (114 Points)
Replied 16 November 2007

CANARA BANK

AJAY AHUJA (BUSINESS) (49 Points)
Replied 18 November 2007

DEAR NAFIS, U HAVE TO FILL:- 1. LC OPENING FORM.(BANK WILL PROVIDE0 2.FORM A-1(PURCHASE FROM JAINA BOOK AGENCY 3.PROFORMA INVOICE COPY. 4.FEMA DECLARATION(FORMAT FROM BANK) 5. U MUST HAVE IMPORTER EXPORTER CODE. 6.VALUE OF ONE PROFORMA INVOICE SHOULD NOT BE MORE THAN 40 LACS. 7. INSURANCE COVER NOTE. 8. READ LC OPENING FORM CAREFULLY THEN IT WOULD BE BETTER UNDERSTOOD. REGARDS AJAY AHUJA

AJAY AHUJA (BUSINESS) (49 Points)
Replied 18 November 2007

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Kailas Patil (Astt. Manager) (22 Points)
Replied 19 June 2009

Originally posted by :AJAY AHUJA
"	DEAR NAFIS, U HAVE TO FILL:- 1. LC OPENING FORM.(BANK WILL PROVIDE0 2.FORM A-1(PURCHASE FROM JAINA BOOK AGENCY 3.PROFORMA INVOICE COPY. 4.FEMA DECLARATION(FORMAT FROM BANK) 5. U MUST HAVE IMPORTER EXPORTER CODE. 6.VALUE OF ONE PROFORMA INVOICE SHOULD NOT BE MORE THAN 40 LACS. 7. INSURANCE COVER NOTE. 8. READ LC OPENING FORM CAREFULLY THEN IT WOULD BE BETTER UNDERSTOOD. REGARDS AJAY AHUJA	"