[Cotton Credit Agreement, October 14, 1955] Page: 3 of 6
This text is part of the collection entitled: Harris and Eliza Kempner and was provided to The Portal to Texas History by the Rosenberg Library.
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Letters of Credit - Tore Bar.k of' Jan, < ry . :mE a. bar.k in ai t designates,
411 request a United States commercial bank which has agreed to act for
Export-Import Bank of Washington to issue a letter of credit in favor of
the cotton seller. Letters of Credit will specify documents required and
must require presentation of drafts and documents not later than July 31,
1956. In the case of cotton shipped. from the United States subsequent to
the date of the contract for the sale thereof, the Letters of Credit will
include requirement for full set of onboard ocean bills of lading. In the
case of cotton held on consignment in Japan. and cotton in transit to Japan,
Letters of Credit will include requirement for:,
(1) a signed. non-negotiable copy of the onboard ocean bill of lading, or
photostatic copy of the original;
(2) a letter substantially in the form and text that follows, addressed to
the United States commercial bank which is to issue the Letter of Credit,
and signed by the United States commercial bank which controls the docu-
ments of title to relative cotton
Rn: Your L/C No.
financed by Eximbank under
'r d i t No.
Gen Ilmr. n:
U'O n cen 1l by u Fr )I ;yu _ _ _ _ and in
consideration thereof,, we will cable immediately to (name of foreign
correspondent bank) holding on our behalf documents of title to cotton
as described in the attached invoice, to release said documents of
title to (name of foreign bank opening L/C under Eximbank's cotton
credit. )
(3) seller's certification substantially in the form and text that follows,
addressed to Export-Import Bank of Washington:
CERTIFICATION OF SUPPLIER RE
EXPORTATION AND SALE ABROAD OF COTTON OF U. S. GROWTH
The undersigned certifies with respect to cotton sold according
.0 attached invoice (No. dated _ _ ) that:
L The cotton invoiced and financed by you under L/C No_ _
iusucd by (name of bank) has been identified by the undersigned as
having been grown within -the continental boundaries of the United States
and is the cotton described in Bi 1- -ldno No. dated _
2. The cotton vl1Was Ls3LcI unrir (7r rjc t en tered into subsequent to
(date) to (buyer) against payment in United States dollars but that pay-
ment has not been made therefor and that title to cotton is vested in
the undersigned.
3. The undersigned has h conLi rinuouu ownnrhip of the cotton as in-
voiced, frrom date of export from the United States to date .
?,. The undersigned is duly authorized to sign this certificate.
The undersigned executes this certification with full knowledge of
the provisions of Section 35(a) of the Criminal Code of the United States.
(Name oF Supp i r ) (A, nor I zrd Si gture )
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Bank of Washington. [Cotton Credit Agreement, October 14, 1955], text, October 14, 1955; (https://texashistory.unt.edu/ark:/67531/metapth1321863/m1/3/?q=%22~1%22~1: accessed July 15, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Rosenberg Library.