The Banker's Usance Letter of Credit serves as a crucial trade finance instrument in the Australian market, facilitating international trade transactions where deferred payment terms are required. This document becomes necessary when importers need extended payment terms while ensuring exporters receive bank-backed payment security. The LC specifies the credit period (usance period), typically ranging from 30 to 180 days after document presentation or shipment date. It operates under Australian banking regulations, particularly the Banking Act 1959, while also adhering to international standards such as UCP 600. The document includes detailed specifications for required documentation, payment terms, and conditions that must be met before the bank's payment obligation matures. This type of LC is particularly valuable in capital-intensive industries or where extended credit terms are standard practice in the trade relationship.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Genie AI's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
Upload your Doc
1. Letter Reference and Date: Unique LC reference number and issuance date
2. Bank Details: Full details of the issuing bank including name, branch, and contact information
3. Applicant Details: Complete information of the buyer/applicant requesting the LC
4. Beneficiary Details: Complete information of the seller/beneficiary of the LC
5. Credit Amount and Currency: Specification of the LC amount and currency
6. Usance Terms: Clear specification of the deferred payment period (e.g., 60 days, 90 days from bill of lading date)
7. Documentary Requirements: Detailed list of required documents for LC presentation
8. Shipment Terms: Specifications for shipment including latest shipment date and partial shipments
9. Presentation Period: Timeline within which documents must be presented
10. Governing Rules: Reference to UCP 600 or other applicable rules
11. Special Conditions: Any specific conditions or requirements unique to this LC
1. Transferability Clause: Include when the LC needs to be transferable to another beneficiary
2. Back-to-Back Provisions: Include when the LC may be used as collateral for another LC
3. Revolving Terms: Include for LCs that automatically renew under specified conditions
4. Red Clause Provisions: Include when advance payment facilities are required
5. Green Clause Provisions: Include when storage facility provisions are needed
6. Confirmation Instructions: Include when confirmation by another bank is required
1. Schedule A - Documentary Requirements: Detailed checklist of required documents and their specifications
2. Schedule B - Shipping Terms: Detailed shipping requirements and conditions
3. Schedule C - Special Instructions: Any special handling or processing instructions
4. Appendix 1 - Standard Document Formats: Templates or formats for required documents
5. Appendix 2 - Bank Contact Details: Complete contact information for all involved banks
6. Appendix 3 - Fee Schedule: Breakdown of all applicable bank charges and fees
Relevant legal definitions
Advising Bank
Applicant
Banking Day
Beneficiary
Bill of Exchange
Bill of Lading
Commercial Invoice
Complying Presentation
Confirmation
Credit
Deferred Payment
Discrepancy
Documentary Credit
Draft
Expiry Date
Facility Agreement
Force Majeure
Governing Law
Issuing Bank
Letter of Credit
Maturity Date
Negotiating Bank
Negotiation
Packing List
Presentation
Reimbursing Bank
Shipping Documents
Tenor
UCP 600
Usance Period
Valid Document
Applicant
Banking Day
Beneficiary
Bill of Exchange
Bill of Lading
Commercial Invoice
Complying Presentation
Confirmation
Credit
Deferred Payment
Discrepancy
Documentary Credit
Draft
Expiry Date
Facility Agreement
Force Majeure
Governing Law
Issuing Bank
Letter of Credit
Maturity Date
Negotiating Bank
Negotiation
Packing List
Presentation
Reimbursing Bank
Shipping Documents
Tenor
UCP 600
Usance Period
Valid Document
Clauses
Credit Amount and Currency
Payment Terms
Usance Period
Document Requirements
Presentation Period
Bank Obligations
Applicant Undertakings
Documentary Compliance
Expiry and Maturity
Force Majeure
Governing Law
Dispute Resolution
Bank Charges
Amendments
Assignment and Transfer
Confirmation Requirements
Reimbursement
Discrepancy Handling
Notice Requirements
Sanctions Compliance
Anti-Money Laundering
Document Examination
Shipping Terms
Insurance Requirements
Default and Remedies
Payment Terms
Usance Period
Document Requirements
Presentation Period
Bank Obligations
Applicant Undertakings
Documentary Compliance
Expiry and Maturity
Force Majeure
Governing Law
Dispute Resolution
Bank Charges
Amendments
Assignment and Transfer
Confirmation Requirements
Reimbursement
Discrepancy Handling
Notice Requirements
Sanctions Compliance
Anti-Money Laundering
Document Examination
Shipping Terms
Insurance Requirements
Default and Remedies
Relevant Industries
Banking and Financial Services
International Trade
Import/Export
Manufacturing
Commodities Trading
Retail
Wholesale
Agriculture
Mining
Construction
Textiles
Electronics
Relevant Teams
Finance
International Trade
Treasury
Legal
Compliance
Risk Management
Trade Operations
Documentary Credits
Supply Chain
Procurement
Relevant Roles
Trade Finance Manager
International Business Development Manager
Import/Export Coordinator
Finance Director
Treasury Manager
Credit Controller
Documentary Credits Specialist
Trade Operations Manager
Chief Financial Officer
Banking Relationship Manager
Compliance Officer
Risk Manager
Supply Chain Manager
Procurement Manager
Find the exact document you need
Credit Card Increase Limit Letter
An Australian-compliant formal letter offering a credit card limit increase to an existing cardholder, including regulatory disclosures and terms.
find out more
SBLC For Buyers Credit
An Australian-law governed Standby Letter of Credit securing buyer's credit facilities, providing bank-backed payment assurance in commercial transactions.
find out more
Letter Of Credit Transaction
An Australian-compliant Letter of Credit document that facilitates secure international trade transactions under UCP 600 rules and Australian banking regulations.
find out more
Letter Of Credit Collection
An Australian-compliant banking document that provides instructions for collecting payment against trade documents through the banking system.
find out more
Lc Issuance
An Australian-law governed Letter of Credit document that provides payment security in international trade transactions through bank-backed guarantees.
find out more
Credit Decline Letter
An Australian-compliant formal letter informing applicants of an unsuccessful credit application, including decline reasons and customer rights information.
find out more
Standby Guarantee
An Australian law-governed financial instrument where a bank guarantees payment to a beneficiary upon demand if specified obligations are not met.
find out more
SBLC Dlc
An Australian law-governed bank undertaking providing payment security through either Standby or Documentary Letter of Credit arrangements.
find out more
Irrevocable Letter Of Credit Cost
An Australian-compliant financial instrument detailing the costs and terms of an irrevocable letter of credit, providing secure payment guarantees in international trade transactions.
find out more
Import Export Lc
An Australian-law governed Letter of Credit agreement that establishes secure payment terms and documentation requirements for international trade transactions.
find out more
Credit Letter In Business Communication
An Australian-compliant business document that formally establishes credit terms and conditions between commercial entities.
find out more
Credit Card Noc Letter
An Australian-compliant formal letter confirming credit card account closure and settlement of all dues, issued by financial institutions to cardholders.
find out more
Collateral For Letter Of Credit
An Australian law-governed agreement establishing security arrangements for letter of credit facilities through asset pledging and collateral management.
find out more
90 Days Usance Lc
An Australian law-governed Letter of Credit document providing 90-day deferred payment terms for international trade transactions.
find out more
180 Days Usance Lc
An Australian law-governed trade finance instrument providing 180-day deferred payment terms with bank guarantee for international trade transactions.
find out more
Cash Backed SBLC
Australian law-governed agreement for Cash Backed Standby Letter of Credit, detailing terms, conditions, and cash backing requirements.
find out more
SBLC Transferable
An Australian law-governed Transferable Standby Letter of Credit that provides a transferable bank payment guarantee, combining local regulations with international banking standards.
find out more
Export Lc Discounting
An Australian law-governed agreement for discounting export letters of credit, establishing terms between financial institutions and exporters for early payment against LC rights.
find out more
SBLC Non Recourse Loan
An Australian law-governed agreement for a non-recourse loan facility secured by a Standby Letter of Credit, limiting the lender's recourse to the SBLC collateral.
find out more
SBLC Trade Program
Australian law-governed agreement establishing an SBLC Trade Program framework for international trade transactions.
find out more
Credit Facility Offer Letter
An Australian-compliant formal letter from a financial institution offering credit facilities to a borrower, detailing key terms and conditions of the proposed facility.
find out more
Banker's Usance Lc
An Australian-compliant financial instrument providing bank-guaranteed deferred payment terms in international trade, governed by Australian banking laws and UCP 600.
find out more
Application For Letter Of Credit
An Australian-compliant formal application to a bank requesting the issuance of a Letter of Credit for international trade transactions.
find out more
Usance Lc Discounting
An Australian-law governed agreement for discounting Usance Letters of Credit, enabling exporters to receive early payment on deferred-payment LCs through banking arrangements.
find out more
Revolving SBLC
An Australian law-governed agreement establishing a Revolving Standby Letter of Credit facility with automatic reinstatement provisions.
find out more
Payment Terms Dlc
An Australian law-governed agreement establishing terms and conditions for Documentary Letter of Credit arrangements in international trade transactions.
find out more
Non Transferable SBLC
An Australian law-governed Non-Transferable Standby Letter of Credit providing bank-issued financial guarantee with restricted drawing rights to the named beneficiary only.
find out more
Negotiation Bank In Lc
An Australian-law governed agreement setting out terms and conditions for Letter of Credit negotiations between banks and trading parties.
find out more
Letter Of Credit Discounting Charges
An Australian-law governed document specifying terms and charges for Letter of Credit discounting services provided by a bank to its client.
find out more
Irrevocable Lc Payment Terms
Australian-law governed Irrevocable Letter of Credit payment terms document specifying conditions and requirements for international trade financing.
find out more
Credit Card Clearance Letter
An Australian-compliant formal document confirming the full settlement and closure of a credit card account, issued by financial institutions under Australian banking and consumer credit regulations.
find out more
Freely Negotiable Letter Of Credit
An Australian law-governed banking instrument that provides secure, flexible payment in international trade, allowing negotiation with any bank under UCP 600 rules.
find out more
Small Business Letter Of Credit
An Australian-compliant bank guarantee document that secures payment in international trade for small businesses, providing assurance to sellers while protecting buyers' interests.
find out more
Red Letter Of Credit
An Australian-compliant Red Letter of Credit document enabling advance payment facilities in international trade, subject to Australian banking regulations and UCP 600.
find out more
Loan Facility Letter
An Australian law-governed document setting out terms and conditions for a lending facility, serving as a binding agreement between lender and borrower.
find out more
Non Operative Letter Of Credit
An Australian-compliant banking instrument that serves as a conditional payment guarantee in international trade, marked as non-operative pending fulfillment of specific conditions.
find out more
Letter Of Credit In Logistics
An Australian-law governed financial instrument issued by banks to facilitate secure international trade transactions, combining payment assurance with logistics requirements.
find out more
Letter Of Credit 90 Days
An Australian-compliant 90-day Letter of Credit document that serves as a bank's irrevocable payment guarantee in international trade transactions.
find out more
Letter Of Credit 60 Days
An Australian-law governed Letter of Credit providing 60-day deferred payment terms for international trade transactions, compliant with UCP 600 and local banking regulations.
find out more
Letter Of Credit 30 Days
An Australian-law governed Letter of Credit providing 30-day payment terms for international trade transactions, ensuring secure payment through banking channels.
find out more
Genie’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; Genie’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)
.png)