The LC 60 Days document serves as a fundamental instrument in international trade finance, particularly suited for transactions requiring extended payment terms while maintaining security for all parties involved. This Letter of Credit, governed by Swiss law, provides a structured payment mechanism where the issuing bank commits to pay the beneficiary 60 days after the presentation of compliant documents. The choice of Swiss jurisdiction offers particular advantages due to Switzerland's reputation for banking excellence, political stability, and sophisticated financial regulations. The document incorporates requirements from both the UCP 600 international standards and Swiss banking laws, making it particularly suitable for high-value international trade transactions where parties seek the reliability and neutrality of Swiss banking infrastructure.
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1. Letter of Credit Number and Date: Unique identification number and issuance date of the LC
2. Applicant Details: Full name, address, and contact information of the party requesting the LC
3. Beneficiary Details: Full name, address, and contact information of the party in whose favor the LC is issued
4. Issuing Bank Details: Name, address, and SWIFT code of the issuing bank
5. Credit Amount and Currency: The maximum amount and currency of the LC
6. Availability and Expiry: Specification of 60-day payment terms and expiry date of the LC
7. Required Documents: Detailed list of documents required for presentation
8. Shipment Terms: Details of shipment including latest shipment date and partial shipments status
9. Presentation Period: Time period within which documents must be presented after shipment
1. Advising Bank Details: Include when an advising bank is involved in the transaction
2. Confirmation Instructions: Include when confirmation is requested from another bank
3. Transhipment Conditions: Include when specific transhipment requirements need to be specified
4. Insurance Coverage: Include when specific insurance requirements need to be detailed
5. Special Conditions: Include when additional terms or conditions specific to the transaction are required
1. Schedule A - Document Requirements: Detailed checklist of required documents and their specific requirements
2. Schedule B - Goods Description: Detailed description of goods or services covered by the LC
3. Appendix 1 - Bank Format Requirements: Specific formatting requirements for banking documents
4. Appendix 2 - Payment Schedule: Detailed breakdown of the 60-day payment terms and any associated conditions
Relevant legal definitions
Advising Bank
Applicant
Banking Day
Beneficiary
Complying Presentation
Confirmation
Credit
Document Examination Period
Documents Required
Expiry Date
Honour
Issuing Bank
Letter of Credit
Maturity Date
Negotiation
Nominated Bank
Payment Terms
Presentation
Reimbursing Bank
Shipment
Sight Payment
SWIFT
Trade Terms
UCP 600
Underlying Transaction
Value Date
Applicant
Banking Day
Beneficiary
Complying Presentation
Confirmation
Credit
Document Examination Period
Documents Required
Expiry Date
Honour
Issuing Bank
Letter of Credit
Maturity Date
Negotiation
Nominated Bank
Payment Terms
Presentation
Reimbursing Bank
Shipment
Sight Payment
SWIFT
Trade Terms
UCP 600
Underlying Transaction
Value Date
Clauses
Credit Amount
Payment Terms
Document Requirements
Expiry and Presentation
Bank Obligations
Shipment Terms
Document Examination
Force Majeure
Governing Law
Bank Charges
Amendment Conditions
Transfer Rights
Discrepancy Handling
Notice Requirements
Reimbursement Terms
Default Provisions
Assignment Restrictions
Confirmation Terms
Documentary Requirements
Compliance Standards
Payment Terms
Document Requirements
Expiry and Presentation
Bank Obligations
Shipment Terms
Document Examination
Force Majeure
Governing Law
Bank Charges
Amendment Conditions
Transfer Rights
Discrepancy Handling
Notice Requirements
Reimbursement Terms
Default Provisions
Assignment Restrictions
Confirmation Terms
Documentary Requirements
Compliance Standards
Relevant Industries
Banking and Financial Services
International Trade
Manufacturing
Commodities Trading
Retail
Wholesale
Logistics and Supply Chain
Agriculture
Technology and Electronics
Pharmaceuticals
Energy and Resources
Construction Materials
Relevant Teams
Trade Finance
International Banking
Documentary Credits
Treasury
Risk Management
Corporate Banking
Operations
Legal
Compliance
Credit Administration
Global Transaction Services
Finance
Relevant Roles
Trade Finance Manager
International Banking Officer
Documentary Credits Specialist
Import/Export Manager
Treasury Manager
Trade Operations Officer
Relationship Manager - Corporate Banking
Credit Risk Officer
Commercial Banking Manager
International Trade Specialist
Supply Chain Finance Manager
Chief Financial Officer
Finance Director
Banking Operations Manager
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