SWIFT MT 103-72: CONDITIONAL CREDIT TRANSFER EXAMPLE:

 

 

TO:
Fax Number: SWIFT:
Account Number: Account Holder: FROM:
Bank Officer: Phone Number: Fax Number: SWIFT:
Account Number: Account Holder: BY THE ORDER OF:

TRANSACTION CODE:
BUYER’S CODE:
SELLER’S CODE:

 WE, …………………, HEREBY PRESENT OUR IRREVOCABLE, DIVISIBLE, ASSIGNABLE, AND CALLABLE CASH BACKED S.W.I.F.T. WIRE TRANSFER MT 103/72 CONDITIONAL. IN YOUR FAVOR FOR THE ACCOUNT OF …………….. IN THE AMOUNT OF USD$............ FOR THE PURCHASE OF………. AGAINST THE FOLLOWING DOCUMENTS.

 PRODUCT HERE IS DESCRIBED BY VERIFICATION FOR…………………………..

 LIST OF THE DOCUMENTS:

• The Dip Test result occurred by the buyer inspection

• Tank storage official receipts/numbers and survey report and result made by SGS or IASC

• Tanker Ullage report at loading port with time log and Shipmaster report

• Certificate of Origin, countersigned by country of product origin Chamber of Commerce

• Notice of readiness (NOR) lodged by Shipmaster at loading port, countersigned for acceptance by terminal’s representative

• Signed commercial invoice, based on the delivered quantity/quality, showing name of vessel date of completion, loading quantity and state of delivery

• Master’s sample receipt at loading port

• Certificate of Insurance Coverage with payment confirmation issued by Insurance Company

• Titles of product ownership in the name of buyer POP Documents

• Copy of license to export issued by the Ministry of Energy from the country of product origin

• Copy of registration with Ministry of Justice-Export Duty Control

• Copy of statement of allotment availability of the product by the refinery

• Copy of the refinery commitment to produce the product

• Copy of the contract to transport the Product to the Port

• Copy of the Port Storage agreement

• Copy of the charter party agreement(s) to transport the product to the discharge port

• Assignment of ownership documents

• Q88 of vessel

• SGS Q/Q certification issued by seller as well as Tank Storage Receipts and Dip Test result.

THIS SWIFT IS CONDITIONAL UPON CERTIFICATION OF THE ABOVE DOCUMENTS.

WE HEREBY CONFIRM THAT THE FUNDS ARE GOOD, CLEAN AND CLEARED FUNDS OF NON-CRIMINAL ORIGIN AND ARE FROM A LEGAL SOURCE.THIS IRREVOCABLE  S.W.I.F.T. IS A BINDING FULLY PERFORMED DUE BILL AND IS IMMEDIATELY CALLABLE CASH PAYMENT AGAINST CONDITIONAL THE VERIFY OIL PRODUCT DOCUMENTS OUR ACCEPTANCE FOR THE PURCHASE AND DELIVERY.

INSTRUMENTS:
CURRENCY: UNITED STATES OF AMERICA DOLLARS
TERM: OIL PRODUCT

THIS CONDITIONAL, IRREVOCABLE, DIVISIBLE, ASSIGNABLE, AND CALLABLE S.W.I.F.T. WIRE TRANSFER IS VALID FOR TEN (10) BANKING DAYS FROM CENTRAL EUROPEAN TIME.
-DAY- OF -MONTH- 2014 AND UNTIL THE –DAY- OF –MONTH-  2014 (17:00 HRS)

>THIS IS AN OPERATIVE BANK INSTRUMENT AND IS SUBJECT TO THE UNIFORM COMMERCIAL CODE AS IT RELATES TO BANK CREDIT INSTRUMENTS.
>BANK OFFICER
>NAME