Part Three Writing
1. The principal applies for issuing a bond. (Applying for a bond)
2. The guarantor issues a bond in favor of the beneficiary. (Issuing a bond )
3. The beneficiary presents documents and claims for indemnity. (Claiming for indemnity)
4. The guarantor pays to the beneficiary if payment called for conforms to the terms of bond.(Paying to the beneficiary)
5. The guarantor asks for and obtains reimbursement from the principal or debits the customer's account according to the counter indemnity. (Asking for and obtaining)
We have received your above L/C and observed that the credit is not signed by an authorized signatory. For the sake of precaution, please confirm to us by tested telex the authenticity of the credit as soon as possible, of please send us a duly signed instrument for replacement.
It comes to our attention that the dates of shipment and expiration are inversely given (to be Aug.30 and Aug. 15 respectively). Please make correction.
In order to complete our file, will you please send us your up-to-date specimen signature booklet if there is any change in your authorized signatories.