Letter of credit - transport, spedycja, magazynowanie - Terramar.pl

Agencja Spedycyjna Terramar ➤ Warto wiedzieć ➤ Letter of credit

Letter of credit is a banking tool facilitating international trade. It decreases the exporter risk of not receiving the payment for the exported goods. Issuing bank is irrevocably obliged to transfer the payment after all shipping documents listed in the letter of credit have been submitted by the exporter. In the process of shipping cargo with the letter of credit banks are only responsible for examining documents not the goods or services.

Letter of credit is issued according to the Uniform Customs and Practice for Documentary Credits – UCP. UCP are published by the International Chamber of Commerce in Paris – first edition was issued in 1933. The latest revised edition UPC 600 is effective on 1 July 2007 and introduces the following changes:

clarifications of terms used in the letter of credit such as: about, approximately regarding the quantity of goods and price; on or about – regarding dates; to, untill, from, between; first half, second half – regarding the month division; begining, middle, end – regarding the days of the month,
letter of credit is always irrevocable even if this term dos not appear on it,
nominated bank has maximum 5 banking days to examine presentation,
only clean documents will be accepted by the bank, however writing the word clean on transport documents is not obligatory even if words “clean on board” are included in the letter of credit,
transport documents must be signed in the way allowing identification whether the signing party is a carrier, master, carrier’s agent or master’s agent,
transport documents may indicate transshipment of goods; provided that for the whole carriage one transport document is issued, it will be accepted by the bank even if the letter of credit prohibits reloadings.

Ladies and Gentlemen,

From May 25, 2018, the new Regulation (EU) 2016/679 of the European Parliament and of the Council of April 27, 2016 on the protection of individuals with regard to the processing of personal data and on the free movement of such data and repealing Directive 95/46 / EC (GDPR).
Terramar Spedycja International Sp. z o.o. fulfilling the information obligation, in accordance with Article 13 (1) and (2) of the General Regulation on the Protection of Personal Data, informs that:

1. The administrator of your personal data is Terramar Spedycja International Sp. z o.o. with headquarters in Gdynia at ul. Rotterdamska 3;
2. We make sure that these data are properly secured and that their processing is clear, reliable and in accordance with the regulations. We assure you that in our proceedings we are guided by the law regulating the principles of personal data protection.
3. Data Protection Coordinator at Terramar Spedycja International Sp. z o.o. has been designated and can be contacted by e-mail at kodo@terramar.pl;
4. Your personal data will be processed in order to perform the concluded contract or the activities entrusted to us in the field of forwarding, storage or customs clearance;
5. The data will not be made available to entities other than those authorized under the law;
6. Your personal data will not be transferred to a third country / international organization;
7. Your personal data will be stored until the contract / order is performed and the period of limitation of claims;
8. You have the right to access your personal data and the right to rectify it;
9. You have the right to lodge a complaint with the supervisory body of the President of the Personal Data Protection Office when you feel that the processing of your personal data violates the provisions of the General Data Protection Regulation of 27 April 2016;
10. Providing your personal data by you is a condition for concluding a contract / accepting an order for execution.