The enterprise shall pay the deposit to the bank according to the amount stated in the first copy of the receipt returned by the bank and the letter of credit notice and relevant documents submitted by the issuing bank, debit the account and credit the account.
Extended data
The deposit for opening a letter of credit is a guarantee payment fund prepared by an enterprise with import and export operation right to apply to the bank for opening a letter of credit for foreign (overseas) parties.
Specifically, the bank will open a letter of credit according to the instructions after receiving the complete instructions from the applicant. The bank has the right to require the applicant to hand over a certain amount of funds or other forms of property as a guarantee for the bank to execute its instructions.
The bank will freeze the funds in its account as the deposit for opening the card. If only part of the deposit is less than the amount of the letter of credit, the applicant can apply for a standby loan from the bank and sign a standby loan contract with the bank.
The applicant's main obligations to the issuing bank: the applicant must repay the loan paid by the issuing bank to the beneficiary for obtaining documents on behalf of the beneficiary; Before he pays, the document as the title certificate still belongs to the bank.
If the documents are consistent with the terms of the letter of credit, and the applicant refuses to "honor the bill", the deposit or frozen funds in the account as guarantee shall be owned by the bank; The applicant has the responsibility to provide the issuing bank with all the expenses required for opening the letter of credit. Therefore, the deposit for opening a letter of credit usually belongs to the "credit deposit" nature of commercial banks.
Baidu encyclopedia-letter of credit deposit