VU PHONG PHU | Editable working copy. Click table cells to complete. Save changes using your editor before distribution.

Review the credit before shipment

BUYER / EXPORT TEAM CHECKLIST | This is not a bank-issued letter of credit.

Three questions first

QUESTION	REVIEW
Does it match the contract?	Parties, rice description, value, quantity, currency and terms
Can the documents be produced?	Issuer, content, originals/copies, language and timing
Can every deadline be met?	Shipment, expiry place/date and presentation period

UCP 600 applies when a credit expressly incorporates it. Banks examine the stipulated documents; they do not inspect the goods as part of that document examination. Review the draft with the servicing bank.

Reference: ICC Academy - Documentary Credits

A rice-focused draft-credit check

Field tags are a navigation aid, not a SWIFT message or issuance instruction.

AREA / COMMON TAG	CHECK WITH THE BANK / PARTIES
Applicant / beneficiary (50 / 59)	Exact approved legal identity and address
Amount / tolerance (32B / 39A)	Agreed currency, value and quantity/value tolerance
Expiry (31D)	Workable date and presentation place
Availability / tenor (41 / 42)	Agreed sight or deferred payment structure and nominated bank
Shipment (43 / 44)	Partial shipments, transshipment, ports and latest date
Goods (45A)	Rice description and approved product reference; match the agreed contract
Required documents (46A)	Feasible issuer, wording and number of originals/copies
Additional conditions (47A)	Check conflicts, applicant-dependent documents and unworkable conditions
Presentation / charges (48 / 71)	Applicable deadline and agreed allocation of bank/discrepancy charges

Reconcile, amend, then ship

Keep a dated resolution record for every issue.

ISSUE	AGREED ACTION / OWNER	RESOLVED
Contract / goods description mismatch	________________________	________
Document unavailable or wrongly specified	________________________	________
Shipment or presentation deadline	________________________	________
Unagreed fees / tolerance / payment tenor	________________________	________
Consignee / transport wording	________________________	________
Other bank comments	________________________	________

FIELD	TO COMPLETE
Contract / draft L/C version	________________________________
Bank reviewer / buyer / VPP reviewer	________________________________
Amendment reference / date	________________________________