Julius Sakys

Yes. Even though your customer is directing the U.S. forwarder to ship the items, you are not relieved of your obligations. The responsibility for determining the proper export authorization and obtaining an export license, if necessary, is your obligation unless your customer provides you something in writing indicating that they are assigning the licensing responsibility to another party in the United States, such as the forwarder. However, even when this occurs, you will still be listed as the “Exporter” on the AES record and on the export declaration as the U.S. Principal Party in Interest (USPPI). If your customer provides you with a written document verifying that they are assigning licensing responsibility to another U.S. person, you will need to provide specific information to the U.S. person in order for them to take the necessary steps to ensure compliance.

You can download and print out the Documentary Collections Form from internet. Alternatively, you can visit any Branch of any Bank to obtain the Application Forms.

The terms white label and private label can be used interchangeably. White labeling is when a product or service removes their brand and logo from the end product and instead uses the branding requested by the purchaser.

An export declaration is a form that is submitted by an exporter at the port of export. It provides information about the goods being shipped, including type, number, and value. This information is used by customs to control exports, in addition to compiling statistical information about a country’s foreign trade.

A Transferable Letter of Credit (LC) is a documentary credit under which the Beneficiary (first Beneficiary) may request the bank specifically authorised in the credit to transfer the credit, available in whole or part, to one or more secondary Beneficiary(ies). The LC can be transferred only in accordance with the terms and conditions stipulated in the original LC, with the exception of the following which may be changed:

• the LC amount
• the unit price of goods (if stated in the original LC)
• the time of shipment
• the last date for presentation of negotiation documents
• the expiry date of LC Any or all of the above may be reduced in the transferred credit to the second Beneficiary.

Moreover, the name of the Applicant can be substituted with the name of the first Beneficiary, unless the original LC stipulates that the name of the Applicant be used in any document other than the invoice. If all or part of the LC is transferred, the first Beneficiary retains the right to substitute their own drafts and invoices for those of the second Beneficiary, if they so require. Instructions must also be provided on whether the bank is allowed to make any amendments to the original LC to the second Beneficiary.