The Advised Letter of Credit is a fundamental instrument in international trade finance, used when parties seek secure payment methods for cross-border transactions. This document becomes necessary when a bank in Denmark acts as an advising bank, verifying the authenticity of a letter of credit issued by a foreign bank and communicating it to the beneficiary. The Advised Letter of Credit includes crucial information such as credit amount, documentary requirements, shipment terms, and presentation deadlines, all while ensuring compliance with Danish banking regulations and international standards such as UCP 600. It is particularly important in situations where the beneficiary requires local bank verification of the credit's authenticity and where the advising bank may also act as the nominated bank for document examination and payment. The document's structure and content are designed to meet both Danish legal requirements and international banking practices, providing clarity and security to all parties involved in the transaction.
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Key Requirements PROMPT example:
Advised Letter Of Credit
I need an Advised Letter of Credit document for a EUR 500,000 machinery export transaction where my Danish bank will act as the advising bank, with strict requirements for original shipping documents and a presentation period of 21 days after shipment, expiring March 15, 2025.
1. Advising Bank Details: Full name, address, and contact information of the advising bank
2. Beneficiary Information: Complete details of the beneficiary including name, address, and account information
3. Issuing Bank Reference: Details of the issuing bank and their letter of credit reference number
4. Credit Amount and Currency: Specification of the credit amount and currency, including any tolerance levels
5. Form of Credit: Specification that this is an irrevocable documentary credit subject to UCP 600
6. Expiry Details: Place and date of expiry of the credit
7. Documentary Requirements: Detailed list of required documents for presentation
8. Shipment Terms: Information about shipment period, partial shipments, and transhipment conditions
9. Presentation Period: Time period within which documents must be presented after shipment
10. Authentication Statement: Confirmation of the authenticity of the credit by the advising bank
1. Confirmation Statement: Added when the L/C is confirmed by the advising bank, stating the bank's confirmation undertaking
2. Transfer Conditions: Included when the credit is transferable, specifying transfer terms and conditions
3. Back-to-Back Arrangements: Added when the L/C is part of a back-to-back credit arrangement
4. Special Payment Conditions: Included when there are specific payment terms such as deferred payment or acceptance
5. Reimbursement Instructions: Added when specific reimbursement arrangements between banks need to be detailed
6. Discount Terms: Included when early payment discount options are available
1. Document Presentation Checklist: Detailed checklist for required documents and their specific requirements
2. Fee Schedule: Breakdown of all applicable banking charges and fees
3. Standard Forms: Templates for common documents required for presentation
4. Swift Message Copy: Copy of the original SWIFT message from the issuing bank
5. Commercial Terms Summary: Summary of the underlying commercial transaction terms
6. Bank Contact Details: Complete contact information for all banks involved in the transaction
Authors
Relevant legal definitions
Advising Bank
Applicant
Banking Day
Beneficiary
Complying Presentation
Confirmation
Credit
Documentary Credit
Documents
Draft
Expiry Date
Honour
Issuing Bank
Letter of Credit
Negotiation
Nominated Bank
Original
Presentation
Presenter
Reimbursing Bank
Shipping Documents
SWIFT
Trade Terms
Transferable Credit
UCP 600
Undertaking
Banking Hours
Place of Expiry
Transport Document
Commercial Invoice
Tolerance
Transhipment
Partial Shipment
Authentication
Advice
Danish Banking Day
Force Majeure
Governing Law
Jurisdiction
Applicant
Banking Day
Beneficiary
Complying Presentation
Confirmation
Credit
Documentary Credit
Documents
Draft
Expiry Date
Honour
Issuing Bank
Letter of Credit
Negotiation
Nominated Bank
Original
Presentation
Presenter
Reimbursing Bank
Shipping Documents
SWIFT
Trade Terms
Transferable Credit
UCP 600
Undertaking
Banking Hours
Place of Expiry
Transport Document
Commercial Invoice
Tolerance
Transhipment
Partial Shipment
Authentication
Advice
Danish Banking Day
Force Majeure
Governing Law
Jurisdiction
Clauses
Authentication and Verification
Bank Undertaking
Presentation Requirements
Document Examination
Payment Terms
Expiry and Validity
Force Majeure
Governing Law
Jurisdiction
Bank Charges
Compliance Requirements
Anti-Money Laundering
Document Handling
Notices
Disclaimer
Limitation of Liability
Reimbursement
Amendment Procedures
Sanctions Compliance
Data Protection
Confidentiality
Dispute Resolution
Assignment
Communication Methods
Bank Instructions
Document Rejection
Transfer Rights
Bank Undertaking
Presentation Requirements
Document Examination
Payment Terms
Expiry and Validity
Force Majeure
Governing Law
Jurisdiction
Bank Charges
Compliance Requirements
Anti-Money Laundering
Document Handling
Notices
Disclaimer
Limitation of Liability
Reimbursement
Amendment Procedures
Sanctions Compliance
Data Protection
Confidentiality
Dispute Resolution
Assignment
Communication Methods
Bank Instructions
Document Rejection
Transfer Rights
Relevant Industries
Banking & Financial Services
International Trade
Import/Export
Manufacturing
Wholesale & Distribution
Shipping & Logistics
Commodities Trading
Retail
Agriculture
Energy & Resources
Relevant Teams
Trade Finance
International Banking
Documentary Credits
Export Finance
Trade Operations
Compliance
Treasury
Financial Control
International Trade
Credit Risk
Legal
Global Transaction Banking
Relevant Roles
Trade Finance Manager
International Banking Officer
Documentary Credits Specialist
Export Finance Manager
Trade Operations Manager
Compliance Officer
Treasury Manager
Financial Controller
International Trade Specialist
Banking Relationship Manager
Credit Risk Officer
Trade Documentation Officer
Letters of Credit Specialist
Global Transaction Banking Officer
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