The Confirmed LC (Letter of Credit) is a sophisticated trade finance instrument used when enhanced payment security is required in international trade transactions. It is particularly valuable when trading partners are in different jurisdictions or when there are concerns about country or bank risks. Under German law, this document combines domestic banking regulations with international standards, primarily UCP 600. The confirmation by a second bank (usually in the beneficiary's country) adds an additional layer of payment security, making it especially suitable for high-value transactions or dealings with unfamiliar trading partners. The document includes comprehensive details about payment conditions, document requirements, shipping terms, and compliance criteria, while ensuring adherence to German banking regulations and international banking practices.
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1. Issuing Bank Details: Complete name and address of the issuing bank
2. LC Number and Date: Unique identification number and date of issuance
3. Type of Credit: Specification that this is a confirmed, irrevocable documentary credit
4. Beneficiary Details: Full name and address of the beneficiary (seller/exporter)
5. Applicant Details: Full name and address of the applicant (buyer/importer)
6. Confirming Bank Details: Name and address of the confirming bank
7. Currency and Amount: Currency code and amount of the LC in numbers and words
8. Available With/By: Specification of where and how the credit is available
9. Expiry Date and Place: Clear statement of expiry date and place for presentation
10. Payment Terms: Whether payment is at sight, deferred payment, acceptance, or negotiation
11. Partial Shipments: Whether partial shipments are allowed or prohibited
12. Transhipment: Whether transhipment is allowed or prohibited
13. Required Documents: Detailed list of all required documents for presentation
14. Shipment Terms: Latest shipment date and shipment details
15. Description of Goods: Precise description of the goods and services covered
1. Transfer Conditions: Include when the LC needs to be transferable
2. Back-to-Back Provisions: Include when the LC will be used as collateral for another LC
3. Red Clause Provisions: Include when advance payment features are required
4. Green Clause Provisions: Include when storage-related advance payment is needed
5. Revolving Credit Terms: Include when the LC is revolving rather than single-use
6. Special Conditions: Include when there are additional requirements beyond standard terms
7. Insurance Requirements: Include when specific insurance arrangements are required beyond standard coverage
1. Commercial Invoice Template: Prescribed format for the commercial invoice
2. Packing List Requirements: Detailed specifications for packing list preparation
3. Transport Document Requirements: Specific requirements for bills of lading or other transport documents
4. Insurance Document Requirements: Format and content requirements for insurance documents
5. Certificate of Origin Requirements: Specifications for origin certification
6. Inspection Certificate Requirements: Details of required inspection certificates and their format
7. Bank Guarantee Format: Standard format for any required bank guarantees
Relevant legal definitions
Advising Bank
Applicant
Banking Day
Beneficiary
Bill of Exchange
Bill of Lading
Complying Presentation
Confirmation
Confirming Bank
Credit
Documents
Draft
Expiry Date
Force Majeure
Goods
Honour
Insurance Documents
Issuing Bank
Latest Shipment Date
Negotiation
Negotiating Bank
Non-Complying Presentation
Partial Shipment
Place of Expiry
Presentation
Presenter
Reimbursing Bank
Shipment
Sight Payment
Transport Documents
UCP 600
Underlying Transaction
Unit Price
Usance
Valid Claim
Applicant
Banking Day
Beneficiary
Bill of Exchange
Bill of Lading
Complying Presentation
Confirmation
Confirming Bank
Credit
Documents
Draft
Expiry Date
Force Majeure
Goods
Honour
Insurance Documents
Issuing Bank
Latest Shipment Date
Negotiation
Negotiating Bank
Non-Complying Presentation
Partial Shipment
Place of Expiry
Presentation
Presenter
Reimbursing Bank
Shipment
Sight Payment
Transport Documents
UCP 600
Underlying Transaction
Unit Price
Usance
Valid Claim
Clauses
Payment Terms
Bank Obligations
Document Requirements
Presentation Requirements
Expiry and Validity
Shipping Terms
Force Majeure
Amendment Conditions
Governing Law
Jurisdiction
Bank Charges
Confirmation Terms
Document Examination
Transfer Rights
Reimbursement
Compliance Requirements
Disclaimers
Notice Requirements
Default Provisions
Assignment
Anti-Money Laundering
Sanctions Compliance
Dispute Resolution
Severability
Communications
Indemnification
Bank Obligations
Document Requirements
Presentation Requirements
Expiry and Validity
Shipping Terms
Force Majeure
Amendment Conditions
Governing Law
Jurisdiction
Bank Charges
Confirmation Terms
Document Examination
Transfer Rights
Reimbursement
Compliance Requirements
Disclaimers
Notice Requirements
Default Provisions
Assignment
Anti-Money Laundering
Sanctions Compliance
Dispute Resolution
Severability
Communications
Indemnification
Relevant Industries
International Trade
Manufacturing
Commodities Trading
Heavy Industry
Automotive
Agricultural Products
Consumer Goods
Electronics
Textiles
Chemical Industry
Oil and Gas
Mining
Industrial Equipment
Relevant Teams
Trade Finance
Treasury
Legal
Compliance
International Sales
Procurement
Supply Chain
Risk Management
Banking Operations
Documentary Credits
Finance
Relevant Roles
Trade Finance Manager
International Sales Director
Export Manager
Import Manager
Treasury Manager
Finance Director
Compliance Officer
Documentary Credits Specialist
Trade Operations Manager
Banking Relationship Manager
Chief Financial Officer
Legal Counsel
Risk Manager
Supply Chain Manager
Commercial Director
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