Letter of Credit - Americas
Thank you for your interest in establishing a letter of credit relationship with Dow Consumer Solutions. In an effort to provide you with the best service possible, we ask that you print and utilize these guidelines, along with the order acknowledgement, to arrange your letter of credit. For detailed questions and arrangements, contact Customer Financial Services.
Letter of credit documents may be sent to the following addresses, as appropriate, for the Americas:
Dow Consumer Solutions
Customer Financial Services
2200 W. Salzburg Road
PO Box 994
Midland MI 48686-0994
Fax: +1 989 496 6299
Americas Irrevocable Letter of Credit
Opening Requirement Guidelines
|1.||Beneficiary||Dow Corning Corporation
2200 W. Salzburg Road
Midland, MI 48686-0994
|2.||Confirming / Advising Bank||
Dow Corning Corporation
|3.||Letter of Credit is to be drawn on irrevocable and confirmed form and subject to the Uniform Customs and Practice for Documentary Credit (2007 Version), International Chamber of Commerce Publication No. 600. The “UCP” statement must be included on the Letter of Credit.|
|4.||Confirmation will be required for certain non-approved banks.
Advising Bank will be the same as Confirming Bank.
|5.||Credit Amount in Figures as per Order Acknowledgement|
|6.||Expiry Date||At least 21 days from latest shipment date
|7.||Place of Expiry||United States of America (Country of Beneficiary)
|8.||Tenor of Draft||45 days from invoice date
Any United States port (sea shipments )
As per “Ship to Country” showing on Order Acknowledgement
|Latest shipment date||
30 days from “Ship Date” on Order Acknowledgement or subject to product availability
|10.||Period for presentation||21 days after the date of shipment but within LC validity
|13.||Incoterms||CIP ____ or FCA _____
(as showing on Order Acknowledgement)
|14.||Description of goods as per Order Acknowledgement|
Following Documents should be provided, if applicable:
|16.||All Issuing bank charges including opening commission, LC amendment fees, late payment and late acceptance commissions are for the account of applicant.
All advising bank charges are for the account of the beneficiary.
Any confirmation charges are for the account of the beneficiary.
|17.||Tolerance Amount: +/- 10%
Tolerance Weight: +/- 10%
All documents must bear the L/C number.