The Structured Letter of Credit is essential in complex international trade transactions where enhanced payment security and specific structuring features are required. This document type combines traditional letter of credit functionality with sophisticated structuring elements to meet specific trading requirements. Under English and Welsh law, these instruments are particularly valued for their enforceability and the clear legal framework supporting them. The document typically includes detailed terms regarding payment conditions, document requirements, and specific structuring features that may include revolving facilities, transferability, or back-to-back arrangements.
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1. Issuing Bank Details: Full name, address, branch details, SWIFT/BIC codes and reference numbers of the issuing bank
2. Beneficiary Details: Complete identification of the beneficiary including full name, address, and account details
3. Credit Amount and Currency: Specific amount and currency of the credit, including any tolerance levels if applicable
4. Credit Type and Terms: Whether sight, deferred payment, acceptance or negotiation, and specific payment terms
5. Expiry Details: Clear statement of expiry date and place for document presentation
6. Documentary Requirements: Detailed list of required documents for presentation including commercial invoice, transport documents, insurance documents etc.
1. Transferability Clause: Terms and conditions under which the credit may be transferred to another beneficiary
2. Revolving Terms: Specific conditions for automatic reinstatement of the credit amount, including frequency and maximum value
3. Red Clause Provisions: Terms for advance payment to the beneficiary before document presentation
4. Back-to-Back Provisions: Terms allowing the credit to be used as collateral for another letter of credit
5. Confirmation Instructions: Instructions regarding confirmation by another bank, if applicable
1. Schedule A - Documentary Requirements: Detailed specification of required documents and their format
2. Schedule B - Presentation Schedule: Timeline and process for document presentation including deadlines
3. Schedule C - Amendment Form: Standard format for requesting and processing amendments to the LC
4. Schedule D - UCP 600 Incorporation: Specific articles of UCP 600 applicable to this credit
5. Appendix 1 - Document Checking Criteria: Specific criteria for document examination under this credit
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