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Irrevocable Documentary Letter of Credit application form instructions

Irrevocable Documentary Letter of Credit application form instructions

You should use this application form when you apply to Westpac to establish an Irrevocable Documentary Letter of Credit.

Use the instructions below to complete the form correctly. You must ensure that page 2 of the application form is signed in terms of existing authorities held by the Bank.

Irrevocable Documentary Credit form instructions  

  • Applicant - Applicant's correct name and address must be shown.
  • Beneficiary - Full name and address of overseas seller must be stated.
  • Amount and Currency  - Amount in words and figures.
  • Expiry Date - Must be stipulated and cannot exceed 12 months.
  • Place - Place is to be the country where the credit is available.
  • Drafts at  - Sight or Term must be stated. Term must not exceed 180 days.
  • Partial Shipment - To be completed as required.
  • Transhipment - To be completed as required.
  • Dispatch/Shipment from/Taking in charge at/to  - To indicate place of loading and place of discharge.
  • Purporting to cover - Brief description of goods (do not use excessive detail) Shipping mode i.e. FOB, C.I.F. must also be indicated.
  • Documents required - Indicate which documents are required Insurance must match shipping mode i.e. FOB - Insurance buyers care.
  • Additional Conditions - Include any special conditions that are required.
  • Charges - Indicate whether charges are for applicant or beneficiary.
Things you should know

Overdraft facilities are subject to application and Westpac's lending assessment criteria. Fees and charges may apply to the products and services listed. Full details of the Terms and Conditions for this product are available on request.