Import-Export Management

Bill of exchange exercises

Exercise 1:
Contract No. 9967HK/YAGI April 20,2004
Buyer: YAGI Co., Ltd. 228 KYUTAGO-MACHICHOU-KU OSAKA
Seller: HUU NGHI GARMENT EXPORT-IMPORT Co., 638 Nguyen Duy st. District 8, HCMC,
VIETNAM
Description of goods:
- Ladies sport wear (style No.: ATN-9828): 700 pcs,
- Unit price: US $120
Amount: US$ 84,000.00 FOB Saigon Port
Place of departure: Saigon Port
Place of destination: Kobe Port
Latest shipment date: June 20,2004
Payment: (D/A) after 60 days shipment date
.......................................................................
Based on the above document, make a draft, knowing that:
- The seller has fulfilled the delivery obligation according to the signed deadline
and the delivery date stated above B/L là 18/06/2004
– The seller opens a trading account at VCB Bank Vietnam, Ho Chi Minh Brach.

Solution

No 20/2004 BILL OF EXCHANGE

For USD 84,000 HCMC, Date 18 Jun 2004

At 60 days after B/L date sight of this First Bill of Exchange (Second of the same tenor and
date being unpaid) Pay to the order of BANK FOR FOREIGN AND TRADE OF
VIETNAM HCM CITY BRANCH the sum of US Dollars Eighty Four Thousand Only.
Value received as per our invoice No (tùy ý) 9999 dated 18 Jun 2004
Drawn under Contract No 9967HK/YAGI dated 20 April 2004
To : YAGI Co., Ltd. Drawer
228 KYUTAGO-MACHICHOU-KU HUU NGHI GARMENT
OSAKA EXPORT-IMPORT Co
 Import-Export Management

Exercise 2
L/C No.: 024070296ILC 1236)
FR: BANK FOR FOREIGN AND TRADE OF VIETNAM HO CHI MINH CITY BRANCH.
TO: THE DEVELOPMENT BANK OF SINGAPORE.
JANUARY 28th, 1996
TEST 56955.824 BETWEEN OUR INTL OPE DEPT AND YOURSELVES FOR USD 892,000.00
DD28 01 1996
WE HEREBY OPEN IRREVOCABLE CREDIT NUMBER 024070296ILC 1236
IN FAVOUR OF: SALPHANT LTD 1245 PIEDAD ST. SINGAPORE
APPLICANT: AN PHU SERVICE PRODUCTION COMPANY – ASC 606 TRAN PHU ST. DIST.
5 HCMC, VIETNAM
AMOUNT: US $ 892,000.00 CIF PORT OF VIETNAM
AVAILABLE BY BENEFICIARY’S SIGHT DRAFT (S) DRAWN ON ISSUING BANK FOR 100
PERCENT INVOICE VALUE ACCOMPANIED BY THE FOLLOWING DOCUMENTS IN
TRIPLICATE (UNLESS OTHERWISE STATED):
.............
LATEST SHIPMENT: MARCH 26th, 1996
THIS CREDIT VALID MAY 30th 1996 IN VIETNAM.

Based on the above documents, make a draft, know that:

–Delivery date is on 25/03/1996.
– Invoice made by the seller AQ 1345 date 25/03/1996
– The advising bank for L/C is a bank serving exporters

Exercise 3:
Savimex has just completed the export of 48,285 USD worth of goods according
to the immediate payment contract No. 21 / 2004HDXK dated September 2, 2004
for ST & Tran Co. Headquartered at 26 Greenfield Street, Bankstown NSW 2200
Australia. Delivery at Saigon port and payment via Asia Commercial Bank.
Set up a bill of exchange based on the above information and self-added
information in accordance with the law.

Exercise 4:
On November 28, 2003, Cholimex Company signed contract No. 022 / 2003HDXK,
frozen shrimp exports to Japan worth USD 92,857, paid by deferred credit letters
90 days from the date of receipt of the draft.
The goods were delivered on January 3, 2004 at the port of Saigon under credit
letter No. 0214357/ LC signed by Bank of Tokyo - Mitsubishi on December 10,
2003.
Based on the above information and additional information (*), sign the
importer's bill of exchange.
Import-Export Management