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Commercial Letter Of Credit
"I need a Commercial Letter of Credit governed by Austrian law for the purchase of industrial machinery from a German manufacturer, valued at €2.5 million, with delivery required by March 2025, and including specific provisions for pre-shipment inspection and installation documentation."
1. Letter Reference and Date: Unique reference number and issuance date of the Letter of Credit
2. Issuing Bank Details: Complete name, address, and contact information of the issuing bank
3. Applicant Details: Full name, address, and contact information of the buyer/applicant
4. Beneficiary Details: Full name, address, and contact information of the seller/beneficiary
5. Credit Amount and Currency: Specified amount and currency of the Letter of Credit
6. Form of Credit: Specification that this is an irrevocable commercial letter of credit
7. Expiry Date and Place: Clear statement of when and where the credit expires
8. Available With/By: Terms of availability and method of payment (sight, deferred payment, acceptance, or negotiation)
9. Partial Shipments/Transhipment: Whether partial shipments or transhipment is allowed or prohibited
10. Loading/Dispatch From/To: Ports or places of loading and discharge
11. Latest Date of Shipment: Final date by which shipment must be made
12. Documents Required: Detailed list of all required documents for presentation
13. Additional Conditions: Any special conditions or terms specific to this credit
14. Charges: Specification of which party bears which bank charges
15. Presentation Period: Time period within which documents must be presented after shipment
1. Confirmation Instructions: Used when confirmation by another bank is requested
2. Revolving Credit Terms: Include when the credit is revolving, specifying reinstatement terms
3. Red Clause Provisions: Used when advance payment facilities are to be provided to the beneficiary
4. Transfer Conditions: Include when the credit is transferable, specifying transfer terms
5. Back-to-Back Provisions: Used in back-to-back credit arrangements
6. Special Reimbursement Instructions: Include when specific reimbursement arrangements are required
7. Green Clause Provisions: Used when storage facilities and advance payment are required
1. Schedule A - Commercial Invoice Requirements: Detailed specifications for the format and content of commercial invoices
2. Schedule B - Transport Document Requirements: Specific requirements for bills of lading or other transport documents
3. Schedule C - Insurance Document Requirements: Details of required insurance coverage and document specifications
4. Schedule D - Description of Goods: Detailed description of the goods, including specifications and quantities
5. Appendix 1 - Bank's Standard Fee Schedule: Schedule of applicable banking fees and charges
6. Appendix 2 - Special Instructions for Document Preparation: Specific instructions for preparing and presenting documents
7. Appendix 3 - UCP 600 Reference Guide: Quick reference guide to relevant UCP 600 articles
Authors
Applicant
Banking Day
Beneficiary
Bill of Exchange
Bill of Lading
Clean Collection
Collection Instructions
Commercial Invoice
Complying Presentation
Confirmation
Confirming Bank
Credit
Documentary Credit
Documents
Draft
Expiry Date
Honour
ICC
Issuing Bank
Letter of Credit
Negotiation
Nominated Bank
Presentation
Presenting Bank
Reimbursing Bank
Shipping Documents
Sight Payment
Transferable Credit
UCP 600
Undertaking
Usance
Banking Hours
Business Day
Force Majeure
Goods
Incoterms
Place of Expiry
Port of Discharge
Port of Loading
Remitting Bank
Trade Terms
Transport Document
Documentary Requirements
Austrian Banking Act
EU Regulations
Credit Availability
Document Presentation
Expiry and Presentation
Payment Terms
Document Requirements
Shipping Terms
Bank Charges
Force Majeure
Governing Law
Jurisdiction
Amendment Conditions
Transfer Rights
Bank Obligations
Confirmation
Reimbursement
Discrepancy Handling
Notice Requirements
Documentation Compliance
Anti-Money Laundering
Sanctions Compliance
Bank Disclaimers
Default Provisions
Assignment
Data Protection
Confidentiality
Severability
Entire Agreement
Language
Notices
Banking & Financial Services
International Trade
Manufacturing
Import/Export
Retail
Wholesale
Commodities Trading
Agriculture
Energy
Mining
Textiles
Technology
Automotive
Construction
Shipping & Logistics
Legal
Finance
Treasury
International Trade
Risk Management
Compliance
Banking Operations
Documentary Credits
Trade Operations
Supply Chain
Commercial Banking
Credit Control
Trade Finance Manager
International Business Development Manager
Chief Financial Officer
Finance Director
Treasury Manager
Import/Export Manager
Trade Operations Manager
Documentary Credits Specialist
Banking Relations Manager
Commercial Banking Officer
International Trade Specialist
Risk Management Officer
Compliance Officer
Legal Counsel
Credit Controller
Supply Chain Manager
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