The 180 Days Usance Letter of Credit is a critical trade finance instrument used when extended payment terms are required in international trade transactions. This document type is particularly relevant for high-value transactions or in trades where longer financing periods are standard industry practice. Governed by Swiss law, which is renowned for its sophisticated banking and commercial legal framework, the document provides a secure method for sellers to obtain payment while offering buyers extended payment terms. It typically includes detailed provisions for document presentation, payment mechanisms, and bank obligations, incorporating both UCP 600 requirements and specific Swiss legal provisions. The 180-day usance period makes it especially suitable for capital goods transactions, long-distance shipping arrangements, or scenarios where extended credit terms are necessary for business operations.
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1. Letter of Credit Number: Unique identification number of the LC
2. Date of Issue: Date when the LC is issued
3. Applicant Details: Full name and address of the party requesting the LC (buyer/importer)
4. Beneficiary Details: Full name and address of the party in whose favor the LC is issued (seller/exporter)
5. Issuing Bank Details: Name and address of the bank issuing the LC
6. Credit Amount and Currency: Maximum amount and currency of the LC
7. Type and Nature of Credit: Specification of 180 days usance and whether LC is irrevocable
8. Expiry Date and Place: Final date and location for document presentation
9. Payment Terms: Detail of 180 days usance payment structure and calculation method
10. Required Documents: List of documents required for presentation
11. Shipment Terms: Details of shipment including latest shipment date and partial shipments
12. Governing Law and Jurisdiction: Specification of Swiss law governance and jurisdiction
1. Advising Bank Details: Details of the advising bank, if different from issuing bank
2. Confirmation Instructions: Instructions regarding confirmation, used when confirmation is requested
3. Transferability Clause: Include when the LC needs to be transferable
4. Special Conditions: Any additional terms or conditions specific to the transaction
5. Reimbursement Instructions: Include when specific reimbursement arrangements are required
6. Insurance Requirements: Additional insurance requirements beyond standard coverage
7. Port Restrictions: Any specific port or routing requirements, if applicable
1. Document Requirements Schedule: Detailed list of required documents and their specifications
2. Goods Description Schedule: Detailed description of goods, quantities, and unit prices
3. Banking Charges Schedule: Breakdown of all applicable banking charges and their allocation
4. Presentation Schedule: Specific requirements for document presentation including timing and format
5. INCOTERMS Schedule: Detailed explanation of applicable INCOTERMS and related obligations
Relevant legal definitions
Acceptance
Advising Bank
Applicant
Banking Day
Beneficiary
Bill of Exchange
Clean Collection
Complying Presentation
Confirmation
Confirming Bank
Credit
Documentary Collection
Documents
Draft
Expiry Date
Honour
ICC
INCOTERMS
Issuing Bank
Latest Shipment Date
Letter of Credit
Maturity Date
Negotiating Bank
Negotiation
Nomination
Place for Presentation
Presentation
Reimbursing Bank
Shipping Documents
SWIFT
Trade Terms
UCP 600
Usance Period
Banking Hours
Commercial Invoice
Transport Document
Insurance Document
Certificate of Origin
Packing List
Sight Draft
Time Draft
Documentary Requirements
Force Majeure
Governing Law
Jurisdiction
Advising Bank
Applicant
Banking Day
Beneficiary
Bill of Exchange
Clean Collection
Complying Presentation
Confirmation
Confirming Bank
Credit
Documentary Collection
Documents
Draft
Expiry Date
Honour
ICC
INCOTERMS
Issuing Bank
Latest Shipment Date
Letter of Credit
Maturity Date
Negotiating Bank
Negotiation
Nomination
Place for Presentation
Presentation
Reimbursing Bank
Shipping Documents
SWIFT
Trade Terms
UCP 600
Usance Period
Banking Hours
Commercial Invoice
Transport Document
Insurance Document
Certificate of Origin
Packing List
Sight Draft
Time Draft
Documentary Requirements
Force Majeure
Governing Law
Jurisdiction
Clauses
Credit Amount and Currency
Availability and Expiry
Payment Terms
Document Requirements
Shipment Terms
Bank Obligations
Presentation Requirements
Examination of Documents
Discrepancies
Bank Reimbursement
Force Majeure
Assignment
Transfer Rights
Amendments
Governing Law
Jurisdiction
Notices
Banking Charges
Disclaimers and Limitations
Default
Indemnification
Compliance with Laws
UCP Application
Anti-Money Laundering
Sanctions Compliance
Documentary Requirements
Time Limits
Partial Shipments
Transhipment
Insurance Coverage
Bank Communications
Confirmation Terms
Document Examination Period
Payment Instructions
Dispute Resolution
Availability and Expiry
Payment Terms
Document Requirements
Shipment Terms
Bank Obligations
Presentation Requirements
Examination of Documents
Discrepancies
Bank Reimbursement
Force Majeure
Assignment
Transfer Rights
Amendments
Governing Law
Jurisdiction
Notices
Banking Charges
Disclaimers and Limitations
Default
Indemnification
Compliance with Laws
UCP Application
Anti-Money Laundering
Sanctions Compliance
Documentary Requirements
Time Limits
Partial Shipments
Transhipment
Insurance Coverage
Bank Communications
Confirmation Terms
Document Examination Period
Payment Instructions
Dispute Resolution
Relevant Industries
International Trade
Banking & Financial Services
Manufacturing
Import/Export
Commodities Trading
Shipping & Logistics
Agriculture
Mining
Textiles
Heavy Industry
Consumer Goods
Chemical Industry
Automotive
Relevant Teams
Trade Finance
Treasury
International Banking
Risk Management
Legal
Commercial Banking
Documentary Credits
Trade Operations
Finance
Procurement
Supply Chain
Credit Control
Relevant Roles
Trade Finance Manager
International Trade Specialist
Treasury Manager
Finance Director
Import Manager
Export Manager
Trade Operations Officer
Documentary Credits Specialist
Banking Relationship Manager
Chief Financial Officer
Commercial Banking Officer
Risk Management Officer
Supply Chain Manager
Procurement Manager
Credit Control Manager
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