ISO 10044:1995
(Main)Banking and related financial services — Information interchange — Documentary credit form
Banking and related financial services — Information interchange — Documentary credit form
Specifies a set of standardized forms intended for documentary credit handling within the banking industry.
Banque et services financiers liés aux opérations bancaires — Échange d'informations — Formulaire de crédit documentaire
General Information
Standards Content (Sample)
INTERNATIONAL IS0
STANDARD
10044
First edition
1995-06-I 5
Banking and related financial services -
Information interchange - Documentary
credit form
Banque et services financiers Ii& aux op&-atlons bancaires - ichange
d ‘in forma Cons - For-mu/air-e de crkdit documentajre
Reference number
IS0 10044: 1995(E)
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ISO10044:1995(E)
Page
Contents
1
1 Scope .
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1
2 Normative references.
1
3 Paperandprint .
1
4 Language .
1
5 Forms .
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6 Data elements 2
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11
Annexes A Examples of forms
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B Bibliography 22
0 IS0 1995
no part of this publication may be
All rights reserved. Unless otherwise specified,
reproduced or utilized in any form or by any means, electronic or mechanical, including
photocopying and microfilm, without permission in writing from the publisher.
International Organization for Standardization
Case Postale 56 l CH-1211 Gerkve 20 l Switzerland
Printed in Switzerland
II
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0 IS0
ISO10044:1995(E)
Foreword
IS0 (the International Organization for Standardization) is a worldwide
federation of national standards bodies (IS0 member bodies). The work of
preparing International Standards is normally carried out through IS0
technical committees. Each member body interested in a subject for which a
technical committee has been established has the right to be represented on
that committee. International organizations, governmental and non-
governmental, in liaison with ISO, also take part in the work. IS0 collaborates
closely with the International Electrotechnical Commission (IEC) on all
matters of electrotechnical standardization.
Draft International Standards adopted by the technical committees are
circulated to the member bodies for voting. Publication as an International
Standard requires approval by at least 75 % of the member bodies casting a
vote.
International Standard IS0 10044 was prepared by Technical Committee
lSO/TC 68, Banking and related financial services, Subcommittee SC 5,
Information interchange.
Annexes A and B of this International Standard are for information only.
. . .
Ill
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IS0 10044:1995 (E)
0 IS0
Introduction
The standard documentary credit forms introduced in this International Standard
have been drafted to satisfy the needs both of the international banking
community and of the commercial parties at whose request and in whose favour
respectively, documentary credits are issued and operated.
The use of standard documentary credit forms has the following significant
advantages:
a)the similarity in layout is expected to help the beneficiary to prepare the
stipulated documents in compliance with the terms and conditions of the
credits issued in their favour;
b)positioning of identical details in identical spots or areas of the different
forms in which they appear,
c) each of the various forms is well adapted to the purpose for which it has
been drafted;
d)ample blank centre areas in the issuance forms which will easily
accommodate the description of goods, and/or services, the listing of
stipulated documents and the special instructions, if any, in the large
majority of cases.
The use of standard documentary credit forms will be an effective contribution
towards standardization and simplification of international documentary credit
procedures.
iv
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INTERNATIONAL STANDARD @ Iso
IS0 10044:1995 (E)
Banking and related financial services -
Information interchange - Documentary credit form
and additionally, be marked by a printed arrow (oblique or
1 Scope
other). This will help to avoid mismailings.
This International Standard specifies a set of standardized
forms intended for documentary credit handling within the 3.5 Layout and printed text
banking industry.
The standard forms have been developed in the interests of
worldwide standardization and of uniform understanding,
2 Normative references
interpretation and processing. Therefore, the requirements of
The following standards contain provisions which, through IS0 8439 shall be met unless otherwise specified in this
reference in this text, constitute provisions of this International International Standard.
Standard. At the time of publication, the editions indicated were
It is possible that some banks only wish to preprint certain
valid. All standards are subject to revision, and parties to
this International Standard are fields (for example, fields 1 and 3) or use continuous blank
agreements based on
forms. In such cases, only required field names shall be printed
encouraged to investigate the possibility of applying the most
at the time the form is completed by high-speed impact or laser
recent editions of the standards indicated below. Members of
printers. Under such circumstances, the lines delineating the
IEC and IS0 maintain registers of currently valid International
fields and the “tick box(es)” need not be printed. Only the
Standards.
relative instructions and/or information should be shown
directly under or opposite the appropriate field names. Items
I SO 42 17: 1990, Codes for the representation of currencies and
shown in large print on the specimen form shall be suitably
funds.
highlighted.
IS0 8439: 1990, Form design - Basic layout.
4 Language
IS0 8601:1988, Data elements and interchange formats -
The preprinted text shall be given in English or French and
information interchange - Representation of dates and times.
additionally may be given in the native language of the
originator or any other desired language(s).
3 Paper and print
3.1 Paper 5 Forms
NOTE 1 The reference (ICC form) acknowledges that this form was
It is strongly recommended that the original for the beneficiary
developed by the International Chamber of Commerce. The reference
and the original for the advising bank of the
(IS0 form) acknowledges that this form was developed by the
International Organization for Standardization.
- standard documentary credit issuance form;
- standard documentary credit continuation form; and the
- standard documentary credit amendment form; Documentary credit application (ICC form)
5.1
It follows from Articles 2, 5, 12 and 20 of ICC publication No.
be printed on safety paper and that further available techniques
500t4] that the issuance of a documentary credit will be
be used to make the standard forms secure.
preceded by a request in which the applicant for the credit
gives complete and precise instructions. An example of a
3.2 Paper size
documentary credit application is shown in A.1 .
The paper size of the printed forms should be IS0 A4 (210 mm
5.2 Irrevocable documentary credit issuance form
x 297 mm) or, where mandatory American standard document
(ICC form)
size (8,5 in x 11 in).
The standard documentary credit issuance form usually
3.3 Image area
consists of:
The image area is 183 mm x 262 mm and should be as
a) the advice for the beneficiary;
carefully observed as the surrounding margins (top margin IO
b) the advice for the advising bank;
mm, left hand margin 20 mm).
c) the information copy for the credit applicant;
d) the file copy for the issuing bank;
3.4 Address boxes
e) any extra copies which the issuing bank wants.
Corresponding address boxes should be outlined in heavy print
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IS0 10044:1995 (E)
0 IS0
An example of an irrevocabl e documentary credit issuance
5.6 Authorization to reimburse (IS0 form)
form is shown in A. 2.
The standard documentary credit authorization to reimburse
The standard documentary credit issuance form has been form shown in clause A.6 has been designed to authorise
drafted for the issuance of an irrevocable documentary credit. reimbursement, provide details of allowable charges, indicate
In the rare case that it is used for the issuance of a revocable the method of reimbursement and allow ample “blank space”
for additional instructions.
credit, the word “irrevocable” is to be replaced by “revocable”.
5.7 Amendment to authorization to reimburse
5.3 Continuation of irrevocable documentary
(IS0 form)
credit (ICC form)
The standard documentary credit amendment to authorization
In spite of their efforts to keep down the amount of detail, banks
to reimburse form shown in clause A.7 has been designed to
occasionally still need more than one page to issue a credit.
The use of two pages has become customary with some banks reference clearly the originally issued authorization to
for reasons associated with the use of automated systems. The reimburse instructions and provide ample “blank space” for
continuation of irrevocable documentary credit form shown in amendments.
clause A.3 has been designed to satisfy this need and may
show a preprinted document list.
5.8 Reimbursement claim (IS0 form)
The standard documentary credit reimbursement claim form
5.4 Amendment to irrevocable documentary
shown in clause A.8 has been designed to provide all the
credit (ICC form)
necessary details required to process the claim.
The standard documentary credit amendment form shown in
clause A.4 has been designed for amendments forwarded by 5.9 Advice of payment/acceptance/negotiation
(air) mail. (IS0 form)
The standard documentary credit advice of
5.5 Notification of irrevocable documentary credit
payment/acceptance/negotiation form shown in clause A.9 has
(ICC form)
been designed to provide all the necessary information
relevant to advising payment/acceptance/negotiation of a
A credit will usually reach the beneficiary through an advising
documentary credit.
bank. The standard notification of irrevocable documentary
credit form shown in clause A.5 has been designed for this
purpose.
6 Data elements
The directory given in table 1 defines the fields for the various
data elements.
2
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0 IS0
IS0 10044:1995(E)
Table 1 - Directory of fields for data elements in documentary credits
Field Field
1)
reference status *) Name Description Representation 3,
M Document name
Name describing the According to
function of the
preprinted text.
document.
M Number The reference assigned 16x
by the issuing bank.
M Name of issuing bank Bank division or branch
5 * 35x
issuing the
documentary credit.
Identifies the issuing
bank by name and full
address is sufficient
detail to provide positive
identification.
M Place and date of issue Place and date the 35x
document was issued. Date to be written as
specified in IS0 8601.
Date: M Date and place of expiry Date: the latest date for 35x
presentation of Date to be written as
documents for payment, specified in IS0 8601.
acceptance or
negotiation.
Place: M Place: usually the city,
the country or anywhere
the credit is to be
available.
The party at whose 5 * 35x
6 M Applicant
request a bank is to
issue a documentary
credit. Identified by
name and address in
sufficient detail to
provide positive
identification.
M Beneficiary The party in whose 5 * 35x
7
favour the credit is
issued.
Identified by name and
full address in sufficient
detail to provide positive
identification.
3
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ISO10044:1995(E)
0 IS0
Field Field
1)
status *) Description
reference Name Representation 3,
8 M Advising bank The bank requested to 5 * 35x
advise the credit.
Identifies bank by name
and full address in
sufficient detail to
provide positive
identification.
9 0 Reference number 6, Advising bank’s 16x
reference for this
transaction.
Monetary value of the 5 * 35x
IO M Amount and currency
credit expressed both in Currency code to be
figures and words. in accordance with
IS0 4217.
M Credit available with The name and place of 35x
11
the nominated bank
which is authorized:
- to pay (paying bank); or
- to accept drafts
(accepting bank); or
- to negotiate
(negotiating bank).
If the credit is a
negotiation credit and is
to be freely negotiable
by any bank, insert “any
bank in . .(city or
country)“. Indication of
country not required if
the credit is to be freely
negotiable by any bank
anywhere in the world.
How the credit is Tick one of the
M Credit available by
12
available. If deferred preprinted boxes.
payment, show how the 22x
maturity is determined
Terms of draft and name 20x
0 Draft at. on
13
and place of drawee. plus
30x
Specifies whether
Partial shipments Tick one of the
14 M
partial shipments are
preprinted boxes.
allowed/not allowed.
4
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0 IS0 ISO10044:1995(E)
Field Field
Field Field
1) 1)
Description Representation 3,
reference reference status status *) *) Name
I
r
15 15 M Transhipment Specifies whether Tick one of the
transhipments are preprinted boxes.
allowed/not allowed.
16 16 0 Loading on board Indicates where the 14x
goods must be loaded on plus
board/dispatched/taken 35x
in charge and to which plus
destination they must be 28x
transported. Where
applicable indicate latest
date for loading on
board/dispatching/taking
in charge or period
during which this is to
take place.
The central blank section 25 * 70x
17 17 M M Blank centre space
is for the variable details If the space is not
of the credit and should sufficient, the details
be inserted in the should be continued
following sequence: on the standard
a) description of the documentary credit
goods and/or services; continuation form.
b) enumeration of the
stipulated documents in
the following sequence:
1) commercial invoice
2) transport document(s)
3) insurance document(s)
4) certificates of, for
example,
- origin
- analysis
- health
5) further document(s);
c) special conditions.
Stipulates a specified
18 18 0 0 Presentation period 2n
period of time, expressed
in number of days, after
the date of the issuance
of the transport
document within which
the documents must be
~ presented for payment,
acceptance or
negotiation.
5
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IS0 10044:1995 (E) 0 IS0
Field Field
1)
Description Representation 3)
reference status *) Name
19 M Confirmation Instructions to the Tick one of the
instructions advising bank regarding preprinted boxes.
confirmation of the
documentary credit.
Reimbursement Indicates where, how 4 * 70x
20 0
and when,
reimbursement is to be
obtained.
Specifies the number of
M Number of pages
21
pages of the operative
instrument.
Authorized signature Issuing bank’s authorized
22 M
signature.
According to
M Receiver of the advice Disposition of copies.
23
preprinted text.
Endorsement of Record of drawings. According to
24 M on
preprinted text. It
beneficiary’s drawing
shall appear on the
copy only
reverse of the
beneficiary’s copy.
Preprinted text in
M Documentary credit Standard phrase
25
accordance with ICC
engagement specifying the rule by
Publication No. 500.
which the credit is
formally issued.
26 Blocked field
For additional 50 * 70x
27 M Blank space
conditions/documents of Bank may choose to
the documentary credit preprint in
to which this continuation accordance with their
form refers. own requirements.
35x
Date of amendment Date of issue of the
28 M
amendment. Date to be written as
specified in IS0 8601.
Date and place original 35x
M Place and date of issue
29
documentary credit Date to be written as
specified in IS0 8601.
issued.
6
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0 IS0
IS0 10044:1995(E)
Field Field
1)
reference status *) Name Description Representation 3,
Amendment statement Standard phrase linking According to
30
the amendment to the preprinted text.
original documentary
credit.
31 Amended terms and Specifies the amended 30 * 70x
conditions terms and conditions. Preceded by the
following preprinted
text. “The above
mentioned credit is
amended as follows”,
and followed by “All
other terms and
conditions remain
unchanged”.
Advising bank’s Advising ban k’s 10*35x
32 M
notif ication notification of amendment Date to be written as
to beneficiary. specified in IS0 8601.
Reference number Reference which enables 16x
33 M
the advising bank to
identify the transaction.
Place and date this 16x
34 M Place and date of
document was issued. Banks may choose to
notif ication
preprint the place the
notification was
issued.
Date to be written as
specified in IS0 8601.
Standard phrase notifying According to
M Notification instruction
35
the issuance of the preprinted text.
documentary credit.
Tick one of the
Standard phrase
36 M Advising bank’s
preprinted boxes.
indicating advising bank’s
responsibility
responsibility.
35 * 70x
Additional
37 0 Blank space
information/instructions.
Identifies the reimbursing 5 * 35x
M Reimbursing bank
38
bank by name and full
address in sufficient detail
to provide positive
identification.
7
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ISO10044:1995(E) 0 IS0
Field
Field
1) 2)
status Name Description Representation 3,
reference
39 M Available with Identifies the nominated 5 * 35x
bank at which the credit is
available by name and full
address in sufficient detail
to provide positive
identification. If the credit is
a negotiation credit and is
to be freely negotiable by
any bank, insert “a
...
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