All
Authorized Dealers
In Foreign Exchange,
Dear
Sirs,
IMPORTS
OF COTTON FROM USA
We understand that
Authorized Dealers invariably put a condition in the letters
of credit opened for imports into Pakistan that L/C No.
& Date be indicated on the invoices and all other documents
although we have not issued any such directive. The Authorized
Dealers perhaps do so with a view to create linkage of the
documents with the relative letter of credit. One of the
documents called for with respect to import of cotton is
phytosanitary certificate. We have received representation
against the requirement of indicating the particulars of
letter of credit in the phytosanitary certificate. The argument
is that it is unnecessary as the linkage of the said certificate
with the letter of credit can be established through various
other details given in the certificate including "distinguishing
marks". It has, therefore, been decided that henceforward,
Authorized Dealers will not require the Suppliers of Cotton
in USA to indicate the particulars of letter of credit in
the phytosanitary certificate.