Res 2006-035 - Laserfiche WebLink

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beneficiary and/or to the buyer under the original Export Letter of Credit. We will have no liability to you in the event of such disclosure and, in such event, you will indemnify and hold us harmless from all claims of third parties. You acknowledge that your rights as beneficiary in the original Export Letter of Credit (up to the amount shown in your request with respect to partial transfers) are irrevocably transferred to the second beneficiaryOes) who shall have sole rights (but only up to the amount shown in your request in the case of a partial transfer). In that connection, your approval is not required for us to honor a discrepant presentation made by the second beneficiary. For our transfer fee, we may debit your account(s) with us, which you may designate subject to our reasonable approval. You also agree to pay us on demand any expenses which may be incurred by us in connection with this transfer. , INFORMATION REPORTING We will make available to you, subject to the terms of the Information Reporting section of this Booklet, reports on import, export and standby letter of credit transactions, banker's acceptances, collections and open account transactions, as more fully described in the applicable User Documentation. OPEN ACCOUNT Our Electronic Trade Open Account Service permits you electronically to (i) inform us of , your purchase order details, instruct us on examining import documents for compliance with your purchase orders and instruct us to pay the presenting party and Oi) receive notification of open account transactions initiated through electronic means. Purchase Orders. You will electronically transmit to us, in accordance with applicable User Documentation, f1Ies of purchase orders you have sent to your vendors with instructions to present documents to us. The electronic files will be in such format(s) and transmitted through such channel(s) as you have selected and we have approved. If you are not requesting us to issue an import letter of credit, each transaction will be flagged as an "open account" payment type. When we receive import documents, we will review them according to your purchase order terms. If and as provided by the open account payment type selected by you, we will match the import documents against the pertinent purchase orders housed on our electronic database in accordance with the parameters established by you and accepted by us. We will pay the presenting vendors as provided under the open account payment type selected by you from the following three types: . importer matching - you match the import documents against your copy of the pertinent purchase order and instruct us how much to pay to the presenter and when to pay; . bank matching - we match the import documents against our electronic file of the pertinent purchase order, following the parameters established by you; we then ml