O que é carta de crédito? Tipos, características, importância

A letter of credit is a bank undertaking of payment separate from the sales or other contracts on which it is based. It is a way of reducing the payment risks associated with the movement of goods. Expressed more fully, it is a written undertaking by a bank (issuing bank) given to the seller (beneficiary) at the request, and following the buyer’s (applicant) instructions to effect payment — that is by making a payment, or by accepting or negotiating bills of exchange (drafts) — up to a stated amount, against stipulated documents and within a prescribed time limit.

Características da Carta de Crédito

Dentre os instrumentos utilizados nos negócios internacionais, o L/C tem se destacado pelas seguintes características;

1. Negociabilidade

Letters of credit are usually negotiable. The issuing bank is obligated to pay not only the beneficiary but also any bank nominated by the beneficiary. Negotiable instruments are passed freely from one party to another almost in the same way as money. To be negotiable, the letter of credit must include an unconditional promise to pay on demand or at a definite time. The nominated bank becomes a titular no devido tempoComo titular oportunamente, o titular leva a carta de crédito pelo valor; em boa fé; e sem aviso prévio de quaisquer reivindicações contra ele. Um titular no devido tempo é tratado favoravelmente sob o Uniforme

2. Código Comercial

The transaction is considered a straight negotiation if the issuing bank’s payment obligation extends only to the beneficiary of the credit. If a letter of credit is a straight negotiation it is referenced on its face by “we engage with you” or “available with ourselves. Under these conditions, the promise does not pass to a purchaser of the draft as a holder in due course.

3. Revogabilidade

Letters of credit may be either revocable or irrevocable. Whether revocable or irrevocable, it will state on the face of the document what type of credit is being presented. A revocable letter of credit may be revoked or modified for any reason, at any time by the issuing bank without notification. A revocable letter of credit cannot be confirmed. If a correspondent bank is engaged in a transaction that involves a revocable letter of credit, it serves only as of the advising bank. Once the documents have been presented and meet the terms and conditions in the letter of credit, and the draft is honored, the letter of credit cannot be revoked. The revocable letter of credit is not commonly used. It is generally used to provide guidelines for shipment. The most commonly used irrevocable letter of credit may not be revoked or amended without the agreement of the issuing bank; the confirming bank; and the seller (beneficiary). An irrevocable letter of credit from the issuing bank insures the seller that if the required documents are presented and the terms and conditions are complied with, payment will be made.

4. Transferência e Atribuição

The seller has the right to transfer or assign the right to draw, under a letter of credit only when the letter of credit states that it is transferable or assignable. Letters of credit governed by the Uniform Commercial Code (Domestic) may be transferred an unlimited number of times. Under the Uniform Customs Practice for Documentary Credits (International) the credit may be transferred only once. However, even if the credit specifies that it is nontransferable or non-assignable, the seller may transfer their rights before a performance.

5. Rascunhos de visão e tempo

All letters of credit require the seller to present a draft and specified documents to receive payment. A draft is a written order by which the party creating it, orders another party to pay money to a third party. A draft is sometimes referred to as a bill of exchange. The two types of drafts used in letters of credit are sight and time. A sight draft is payable as soon as it is presented for payment although the issuing bank is allowed a reasonable time to review the documents before making payment. A time draft is not payable until the lapse of a particular period stated on the draft (often 90 days). The issuing bank is required to accept the draft as soon as the documents comply with the letter of credit terms. The issuing bank is then obligated to pay the draft at maturity.

Tipos de cartas de crédito

Tipos básicos de cartas de crédito

Existem três características básicas das cartas de crédito, cada uma delas com duas opções. Eles são descritos abaixo. Cada carta de crédito possui uma combinação de cada um dos três recursos.

1. Vista ou Prazo/Uso

As cartas de crédito podem permitir que o beneficiário seja pago imediatamente mediante a apresentação de documentos específicos (carta de crédito à vista), ou em data futura conforme estabelecido no contrato de venda (carta de crédito de prazo/uso).

2. Revogável ou Irrevogável

Letters of credit can be revocable. This means that they can be canceled or amended at any time by the issuing bank without notice to the beneficiary. However, drawings negotiated before notice of cancellation or amendment must be honored by the issuing bank. An irrevocable letter of credit cannot be canceled without the consent of the beneficiary.

3. Não confirmado ou confirmado

An unconfirmed letter of credit carries the obligation of the issuing bank to honor all drawings, provided that the terms and conditions of the letter of credit have been complied with. A confirmed letter of credit also carries the obligation of another bank which is normally located in the beneficiary’s country, thereby giving the beneficiary the comfort of dealing with a bank known to him.

Tipos especiais de cartas de crédito

So far a description has been provided of the basic types of letters of credit used to cover the shipment of goods. In addition to these basic types, various specialized formats meet particular sets of circumstances.

1. Carta de crédito com cláusula vermelha

A red clause letter of credit incorporates a clause, traditionally written in red, which authorizes the bank acting as the negotiating or paying bank to pay the beneficiary in advance of shipment. This enables the purchase and accumulation of goods from several different suppliers, and the arrangement of shipment under the letter of credit terms. Such advances will be deducted from the amount due to be paid when the documents called for are presented under the letter of credit. If the beneficiary fails to ship the goods or cannot do so before the expiry of the Letter of credit, the issuing bank is bound to reimburse the negotiating or paying bank, recovering its payment from the applicant. Variations of such credits may also require that any advances be secured by temporary warehouse receipts until shipment is effected. Beneficiaries of red clause letters of credit are invariably brokers/agents of buyers in a particular field.

2. Carta de Crédito Transferível

A transferable letter of credit allows the beneficiary to act as a middleman and transfer his rights under a letter of credit to another party or parties who may be suppliers of the goods. Depending on whether the letter of credit permits partial shipments, fractional amounts may be transferred to more than one beneficiary. The letter of credit, however, can be transferred only once: the secondary beneficiaries cannot transfer their rights to a third party. Transfer of a letter of credit can be made on specific application by the original beneficiary to the authorized transferring bank To be transferable, a letter of credit must be so marked by the issuing bank which can only do so on the applicant’s specific instructions. The applicant should be aware that any second beneficiary, the probable supplier, is usually a party not likely known to the applicant. The terms and conditions of the transferred letter of credit must be identical to those of the original letter of credit with the following exceptions:

• O beneficiário original pode ser indicado como requerente no crédito transferido.
• O valor da carta de previsão e os preços unitários, se houver, podem ser menores do que na carta de crédito original (a diferença é a margem de lucro do beneficiário original).
• A última data de remessa, se houver, e a data de vencimento mostrada na carta de crédito original devem ser reduzidas.
• A percentagem de cobertura do seguro, se houver, deverá ser aumentada para satisfazer os requisitos da carta de crédito original.
• Quando ocorre um saque, o beneficiário original normalmente substitui suas faturas pelas do segundo beneficiário até o valor e os preços unitários disponíveis na carta de crédito original e saca a diferença como lucro.

3. Carta de crédito consecutiva

Although not recorded on a letter of credit, “back-to-back” is a term used in transactions involving two irrevocable letters of credit. Such transactions originate when a seller receives a letter of credit covering goods which must be obtained from a third party that in turn requires a letter of credit. The “second” issuing bank looks to the first issuing bank for reimbursement after paying under the second letter of credit. The difference between back-to-back letters of credit and transferable letters of credit is such that in a transferable letter of credit, the rights under the existing letter of credit are transferred. In a back-to-back transaction, different letters of credit are issued. Because technical problems can arise in back-to-back transactions, banks tend to discourage their use.

4. Carta de crédito de pagamento diferido

Under a deferred payment letter of credit, the applicant does not pay until a future date determined under the terms of the letter of credit. No drafts are called for, which avoids “stamp duties” charged by some countries on bills of exchange (drafts). One reason an exporter might extend credit terms to an importer could be the competitiveness of the market and the need for the exporter to finance the importer if the exporter is to make the sale.

Outros tipos de cartas de crédito

As cartas de crédito descritas até agora cobrem a movimentação de mercadorias de um destino para outro. Existem outros tipos de cartas de crédito que não estão especificamente relacionadas à movimentação de mercadorias.

1. Cartas de crédito em espera

Standby letters of credit may apply in general to transactions that are based on the concept of default by the applicant in the performance of a contract or obligation. In the event of default, the beneficiary is permitted to draw under the letter of credit. Standby letters of credit may be used as a substitute for performance guarantees or issued to guarantee loans granted by one firm to another, thereby securing payment to the creditor in the event the other party fails to repay its obligation on the due date. Even if the applicant claims to have performed, the bank issuing the letter of credit is obliged to make payment provided the beneficiary produces complying documents, usually a sight draft, and a written demand for payment.

2. Costumes e Práticas Uniformes para Créditos Documentários (UCP)

The Uniform Customs and Practice for Documentary Credits is an internationally agreed-upon set of rules for all parties involved in all types, of letters of credit transactions. The rules, which were adopted by the International Chamber of Commerce in Vienna in 1933, have been revised several times and are used by banks in practically all countries. The Uniform Customs and Practice for Documentary Credits, currently applicable, is a set of rules which, when not in contravention of local laws, are binding on the parties who have adopted them. The authority of UCP lies in its universal acceptance which is acknowledged by a statement on the letter of credit itself. All Scotia banks’ Documentary Letters of Credit are issued subject to UCP. Copies of the Uniform Customs and Practice for Documentary Credits are available upon request from your nearest Scotia bank office.

Importância e necessidade de carta de crédito (L/C)

The need for a letter of credit is a consideration in the course of negotiations between the buyer and seller when the important matter of method of payment is being discussed. Payment can be made in several different ways:

• pelo comprador enviando dinheiro com seu pedido
• por conta aberta em que o comprador efetua o pagamento no prazo acordado após o recebimento da mercadoria;
• por cobrança documental através de banco, caso em que o comprador paga ao banco cobrador por conta do vendedor em troca de documentos de embarque que incluiriam, na maioria dos casos, o documento de titularidade da mercadoria.

In the aforementioned methods of payment, the seller relies entirely on the willingness and ability of the buyer to effect payment. When the seller has doubts about the credit-worthiness of the buyer and wishes to ensure prompt payment, the seller can insist that the sales contract provides for payment by irrevocable letter of credit. Furthermore, if the bank issuing the letter of credit (issuing bank) is unknown to the seller or if the seller is shipping to a foreign country and is uncertain of the issuing bank’s ability to honor its obligation, the seller can, with the approval of the issuing bank, request its bank — or a bank of international repute to assume the risk of the issuing bank by confirming the letter of credit.

Benefícios de uma carta de crédito

Benefícios de uma carta de crédito ao exportador/vendedor

• As cartas de crédito abrem portas ao comércio internacional, fornecendo um mecanismo seguro de pagamento mediante cumprimento de obrigações contratuais.
• Um banco substitui o comprador como fonte de pagamento dos bens ou serviços exportados.
• O banco emissor compromete-se a efetuar o pagamento, desde que cumpridos todos os termos e condições estipulados na carta de crédito.
• Oportunidades de financiamento, como financiamento pré-embarque garantido por uma carta de crédito e/ou desconto de saques aceitos sacados sob cartas de crédito, estão disponíveis em muitos países.
• A experiência bancária é disponibilizada para ajudar a concluir transações comerciais com sucesso.
• O pagamento das mercadorias enviadas pode ser remetido ao seu banco ou a um banco de sua escolha.

Benefícios de uma carta de crédito ao importador/comprador

• O pagamento só será feito ao vendedor quando os termos e condições da carta de crédito forem cumpridos.
• O importador pode controlar as datas de envio das mercadorias adquiridas.
• Os recursos em dinheiro não estão vinculados.

Partes envolvidas em uma transação de carta de crédito

Para ajudar o leitor a compreender as etapas executadas em uma transação de carta de crédito, a seguir está uma breve descrição das partes mais comumente envolvidas em cartas de crédito.

1. Aceitando Banco

O banco nomeado em uma carta de crédito sobre quem são sacadas as letras de câmbio a prazo e que indica a aceitação da letra de câmbio datando e assinando em sua face, incorrendo assim na obrigação legal de pagar o valor da letra de câmbio no vencimento.

2. Assessoria Bancária

A branch or correspondent bank at or near the domicile of the beneficiary, to which the issuing bank either sends the letter of credit or a notification that a letter of credit has been issued, with instructions to notify the beneficiary. The advising bank advises the beneficiary of the letter of credit without engagement.

3. Candidato

O comprador ou a parte que solicita a emissão da carta de crédito. Beneficiário O vendedor ou a parte a quem a carta de crédito é endereçada.

4. Confirmando Banco

Banco geralmente localizado no país do beneficiário que, a pedido do banco emissor, se junta a esse banco no compromisso de honrar os saques feitos pelo beneficiário, desde que os termos e condições da carta de crédito tenham sido cumpridos.

5. Banco de descontos

Um banco que desconta um saque para o beneficiário após ele ter sido aceito por um banco aceitante.

6. Banco Gaveta

O banco indicado na carta de crédito sobre o qual os saques serão sacados.

7. Gaveta

O beneficiário da carta de crédito que sacará a saque nos termos da carta de crédito.

8. Banco Emissor

O banco abre uma carta de crédito em nome do solicitante e a encaminha ao banco assessor para entrega ao beneficiário.

9. Banco de Negociação

Normalmente, o banco do beneficiário que, depois de se certificar de que os documentos estão em conformidade com a carta de crédito, concorda em adquirir o saque (pagar ao beneficiário).

10. Banco pagador

The bank named in the letter of credit where drafts are to be paid. It is not necessarily the issuing bank, but often a branch of the issuing bank or its correspondent. Once drafts have been paid or accepted by the paying/ drawer bank, there is no recourse to the drawers.

11. Banco de reembolso

O banco autorizado pelo banco emissor a reembolsar o banco sacador ou outros bancos que apresentem reclamações ao abrigo da carta de crédito.

Etapas em uma transação de carta de crédito de importação

Passo 1. O Contrato de Venda

O contrato de venda é o acordo formal entre o comprador e o vendedor que especifica os termos de venda que ambas as partes concordaram. O contrato deverá incluir uma descrição das mercadorias; Quantidade; o preço unitário; as condições de entrega; o prazo permitido para envio e apresentação dos documentos; a moeda; e a forma de pagamento.

Etapa 2. Inscrição e Contrato

The bank’s letter of the credit application and agreement forms, when executed, constitute a payment and reimbursement contract between the issuing bank and its customer. It is also the customer’s instruction to the issuing bank. The letter of credit must be issued exactly under the customer’s instructions; therefore, the application must be completed fully and accurately, to avoid the inconvenience of having to have the letter of credit amended. The agreement constitutes an undertaking by the customer to reimburse the issuing bank for drawings paid following the terms of the letter of credit, and normally takes the form of an authorization to debit the customer’s account.

Passo 3. Emissão da Carta de Crédito

The issuing bank prepares the letter of credit as specified in the application and forwards it by transmission or airmail to the advising bank, (a branch or correspondent of the issuing bank). The issuing bank instructs the advising bank as to whether or not to add its confirmation, as per their customer’s instructions.

Passo 4. Aconselhamento

The advising bank forwards the letter of credit to the beneficiary (seller) stating that no commitment is conveyed on its part. However, if the advising bank has been asked to confirm the letter of credit and agrees to do so, it will incorporate a clause undertaking to honor the beneficiary’s drafts, provided the documents evidence that all terms and conditions of the letter of credit have been complied with.

Etapas em uma transação de carta de crédito de exportação

Passo 1. Remessa de Mercadorias

Upon receiving the letter of credit, the beneficiary should examine it carefully and be satisfied that all the terms and conditions can be complied with. If this is not possible, the beneficiary should request the applicant to arrange an amendment to the letter of credit. Once completely satisfied, the beneficiary will then be in a position to assemble and ship the goods.

Passo 2. Apresentação de Documentos pelo Beneficiário

The beneficiary prepares an invoice in the number of copies required, with the description of goods shown exactly as stipulated in the letter of credit. The beneficiary obtains the bill of lading and/or other transport documents from the carrier and prepares and/or obtains all other documents required by the letter of credit. These are attached to the draft, drawn on the bank indicated and at the term stipulated in the letter of credit, and are presented to the advising/ confirming/ negotiating bank.

Passo 3. Envio de Documentos ao Banco Emissor

O banco assessor/confirmador/negociador compara os documentos apresentados pelo vendedor com a carta de crédito. Caso os documentos atendam aos requisitos da carta de crédito, esse banco os enviará ao banco emissor, solicitando o reembolso e pagando ao vendedor.

Passo 4. Entrega dos Documentos ao Requerente

O banco emissor também verificará a conformidade dos documentos e os entregará ao requerente contra pagamento ou como compromisso de pagamento no vencimento do saque da carta de crédito.

Documentos normalmente exigidos em uma carta de crédito

There is no limit to the number and variety of documents that letters of credit may stipulate. The following is a list of documents most commonly seen in a letter of the credit transaction. Each document is described in brief with a check-list for preparing the document. As already stated, the beneficiary should, on first being advised of the letter of credit, examine it carefully and be satisfied that all the documentary requirements can be complied with. Unless the documentary requirements can be strictly complied with, the beneficiary may not receive payment from the issuing bank. If any requirements cannot be complied with, the beneficiary should immediately request the applicant to arrange for an appropriate amendment to the letter of credit.

1. Rascunho

A draft is a bill of exchange and a legally enforceable instrument which may be regarded as the formal evidence of debt under a letter of credit. Drafts drawn at sight are payable by the drawee on presentation. Term (usance) drafts, after acceptance by the drawee, are payable on their indicated due date.

2. Fatura comercial

A fatura comercial é uma conta discriminada emitida pelo beneficiário e dirigida ao requerente, devendo ser fornecida na quantidade de exemplares especificada na carta de crédito.

3. Fatura Consular ou Aduaneira

A fatura consular ou aduaneira é elaborada pelo beneficiário em formulários fornecidos pelo comprador ou pelos consulados locais;

• As faturas consulares deverão ser visadas (carimbadas oficialmente) e assinadas por funcionário consular do país importador e ser fornecidas no formato oficial e no número de cópias estipulado na carta de crédito.
• Todos os cabeçalhos dos formulários devem ser preenchidos.
• O valor dos bens solicitados deverá estar de acordo com o constante da fatura comercial.

4. Conhecimento de embarque

Um conhecimento de embarque é um recibo emitido por uma transportadora para mercadorias a serem transportadas para um destino nomeado, que detalha os termos e condições de trânsito. No caso de mercadorias embarcadas por via marítima, é o documento de titularidade que controla a guarda física da mercadoria.

5. Conhecimento Aéreo

An air waybill is a receipt issued by an air carrier indicating receipt of goods to be transported by air and slowing goods consigned to a named party. Being a non-negotiable receipt it is not a document of title.

6. Apólice ou Certificado de Seguro

Under the terms of a CIF contract, the beneficiary is obliged to arrange insurance and furnish the buyer with the appropriate insurance policy or certificate. The extent of coverage and risks should be agreed upon between the buyer and seller in their initial negotiations and be set out in the sales contract. Since the topic of Seguro marítimo é extremamente especializado e com condições que variam de país para país, os serviços de um corretor de seguros marítimo competente são úteis e bem aconselhados.

7. Lista de embalagem

Uma lista de embalagem geralmente é solicitada pelo comprador para auxiliar na identificação do conteúdo de cada pacote ou contêiner. Deve mostrar as marcas de envio e o número de cada pacote. Geralmente não é necessário ser assinado.

8. Certificado de origem

Como o nome sugere, um certificado de origem certifica o país de origem das mercadorias descritas e deve cumprir todas as estipulações da carta de crédito quanto ao país de origem e por quem o certificado deve ser emitido. O certificado deve ser consistente e identificado com os outros documentos de embarque por marcas e números de embarque e deve ser assinado.

9. Certificado de inspeção

Quando uma carta de crédito exige um certificado de inspeção, geralmente especifica por quem o certificado será emitido; caso contrário, aplicam-se os mesmos comentários gerais que no caso do certificado de origem. As a preventative measure against fraud or as a means of protecting the buyer against the possibility of receiving substandard or unwanted goods, survey or inspection certificates issued by a reputable third party may be deemed prudent. Such certificates indicate that the goods have been examined and found to be as ordered.

Procedimento de pagamento L/C

O procedimento de pagamento geralmente segue:

1. Pagamento

On presentation of the documents called for under the letter of credit, provided they comply with its terms, the advising/negotiating bank, in the case of an unconfirmed letter of credit, may pay/negotiate the draft. In the case of a confirmed letter of credit, the confirming bank is obliged to honor the drawing without recourse to the beneficiary.

2. Reembolso

O banco consultor/confirmador/negociador solicitará o reembolso do banco emissor.

3. Povoado

Recebidos os documentos conformes, o banco emissor também será responsável pela conferência dos documentos e efetuará a cobrança na conta do solicitante nos termos da carta do pedido de crédito e dos formulários de contrato, efetuando o reembolso ao banco negociador.

O que fazer se os documentos forem desonrados?

Quando os documentos são apresentados pelo beneficiário e se verifica que não estão de acordo com os termos da carta de crédito, estão disponíveis as seguintes ações: Alternativa 1: The documents may be corrected if possible. However, this option is only applicable if the discrepancies are such that the beneficiary, shipping company or whoever is concerned can correct the discrepancies before the expiry of the letter of credit and within the period allowed for presentation of the documents. Alternativa 2: Se as discrepâncias não puderem ser corrigidas, o banco do beneficiário poderá solicitar autoridade do banco emissor para negociar o saque, apesar das discrepâncias. Alternativa 3: If in the case of a sight draft, the beneficiary wishes to receive the proceeds of the drawing immediately, then an indemnity may be the expedient method. Under the indemnity, the beneficiary agrees to indemnify the negotiating bank for payment of principal, interest and any other loss resulting from the refusal of the issuing bank to honor the drawing due to non-conformity of the documents. If the discrepancies are considered minor, the beneficiary’s bank may be prepared to negotiate the draft “under reserve”; it is understood the beneficiary’s bank will have recourse to the beneficiary if the discrepancies are unacceptable to the issuing bank. Alternativa 4: Como último recurso, os documentos poderão ser enviados ao banco emissor em regime de “aprovação”; os documentos a serem entregues ao comprador somente contra a autoridade do comprador para pagar ou aceitar.

Problemas comuns com cartas de crédito

Most problems result from the seller’s inability to fulfill the obligations stated in the letter of credit. The seller may find these terms difficult or impossible to fulfill and, either try to fulfill them and fails or asks the buyer to amend to the letter of credit. As most letters of credit are irrevocable, amendments may at times be difficult since both the buyer and the seller must agree. Sellers may have one or more of the following problems:

1. O cronograma de remessa não pode ser cumprido;
2. As estipulações relativas aos custos de frete são inaceitáveis;
3. O preço torna-se demasiado baixo devido às flutuações das taxas de câmbio;
4. A quantidade de produto encomendado não é a quantidade esperada;
5. A descrição do produto é insuficiente ou demasiado detalhada; e,
6. Os documentos estipulados são difíceis ou impossíveis de obter.

Even when sellers accept the terms of a letter of credit, problems often arise late in the process. When this occurs, the buyer’s and seller’s banks will try to negotiate any differences. In some cases, the seller can correct the documents and present them within the time specified in the letter of credit. If the documents cannot be corrected, the advising bank will ask the issuing bank to accept the documents despite the discrepancies found. It is important to note that, if the documents are not in accord with the specifications of the letter of credit, the buyer’s issuing bank is no longer obligated to pay.