Letter of Credit
A set of requirements has been developed to give you and your bank some rich guidelines in opening documentary credits to New Sea ApS.
It is very important that you furnish your bank with these requirements together with your opening instructions.
- Draft documentary credit Kindly advice your bank to prepare a draft of the documentary credit for our perusal and acceptance before opening the documentary credit, to avoid unnecessary delays and amendment costs.
- Commencement of loading / shipment No loading or shipment will commence before we have a fully accepted original documentary credit in place.
- LOI / Demurrage In case original Bill of Lading does not reach you in due time of arrival of vessel, it is your responsibility to arrange letter of indemnity (LOI) from your bank to avoid demurrage costs. Demurrage costs are always on the account of the receiver.