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Irrevocable Transferable Lc
"I need an Irrevocable Transferable LC for a Belgian textile trading company acting as intermediary between Asian manufacturers and European retailers, with a value of €2.5 million, allowing up to three transfers to different suppliers, and requiring phased shipments throughout 2025."
1. LC Number and Date: Unique identification number and issuance date of the Letter of Credit
2. Issuing Bank Details: Complete name, address, and SWIFT code of the issuing bank
3. Applicant Details: Full name, address, and contact information of the party requesting the LC
4. Beneficiary Details: Full name, address, and contact information of the party in whose favor the LC is issued
5. Currency and Amount: Specified currency and maximum amount available under the LC
6. Expiry Date and Place: Clear statement of expiry date and location where documents must be presented
7. Transfer Terms: Specific conditions and procedures for transferring the LC to second beneficiaries
8. Documents Required: Detailed list of all required documents and their specifications
9. Shipment Terms: Details of goods, shipping requirements, and latest shipment date
10. Payment Terms: Conditions and timing of payment, including any negotiation or deferred payment terms
11. Governing Law and Rules: Statement of applicable law (Belgian) and UCP 600 governance
1. Revolving Terms: Include when the LC is intended to revolve in value or time
2. Red Clause: Include when advance payment to the beneficiary is permitted
3. Back-to-Back Provisions: Include when the LC may be used as collateral for another LC
4. Partial Shipment Terms: Include when partial shipments are allowed or prohibited
5. Transhipment Terms: Include when specific transhipment conditions apply
6. Insurance Requirements: Include when specific insurance coverage is required
7. Special Conditions: Include for any transaction-specific requirements or conditions
8. Bank-to-Bank Reimbursement: Include when specific reimbursement arrangements between banks are required
1. Schedule A - Document Requirements: Detailed specifications for each required document
2. Schedule B - Goods Description: Detailed description of goods, including specifications and quantities
3. Schedule C - Transfer Procedures: Detailed procedures and requirements for LC transfer
4. Appendix 1 - Standard Banking Forms: Required banking forms for LC operations
5. Appendix 2 - Fee Schedule: Schedule of all applicable banking fees and charges
6. Appendix 3 - Specimen Signatures: Authorized signatures for LC operations
Authors
Applicant
Banking Day
Beneficiary
Bill of Exchange
Bill of Lading
Commercial Invoice
Compliant Presentation
Confirmation
Confirming Bank
Credit
Deferred Payment
Documents
Draft
Expiry Date
Force Majeure
Governing Law
Insurance Certificate
Insurance Policy
Issuing Bank
Letter of Credit
Negotiating Bank
Negotiation
Packing List
Partial Shipment
Payment Terms
Presentation
Reimbursing Bank
Second Beneficiary
Shipment
SWIFT
Transfer
Transferable Credit
Transport Document
UCP 600
Underlying Transaction
Irrevocability
Transferability
Document Presentation
Payment Terms
Expiry and Validity
Force Majeure
Governing Law
Dispute Resolution
Bank Obligations
Beneficiary Rights
Transfer Conditions
Document Examination
Compliant Presentation
Reimbursement
Fees and Charges
Amendment
Notice Requirements
Shipping Terms
Insurance Requirements
Assignment
Anti-Money Laundering
Sanctions Compliance
Bank Disclaimer
Severability
Banking and Financial Services
International Trade
Import/Export
Manufacturing
Commodities Trading
Shipping and Logistics
Agriculture
Retail
Construction
Energy
Textile Industry
Mining
Trade Finance
International Banking
Documentary Credits
Export Operations
Import Operations
Treasury
Compliance
Risk Management
Client Relations
Operations
Legal
Credit Administration
Trade Documentation
Financial Control
Trade Finance Manager
International Banking Officer
Documentary Credits Specialist
Export Finance Manager
Import Operations Manager
Treasury Manager
Trade Operations Officer
Compliance Officer
Credit Risk Manager
Banking Relationship Manager
International Trade Specialist
Supply Chain Finance Manager
Chief Financial Officer
Trade Documentation Officer
Banking Operations Manager
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