An At Sight Letter of Credit is utilized in international trade transactions where immediate payment security is required for the seller while providing document-based assurance to the buyer. This banking instrument, governed by Maltese law and UCP 600, is particularly valuable when parties are in different countries or unfamiliar with each other's creditworthiness. The document specifies all terms and conditions of the trade, including required documents, shipment details, and payment terms, with payment being made immediately upon presentation of compliant documents. Malta's membership in the EU ensures that this document adheres to both European banking standards and local Maltese financial regulations, making it a reliable instrument for international trade finance.
At Sight Lc for Malta
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Key Requirements PROMPT example:
At Sight Lc
"I need an At Sight LC for importing industrial machinery from Germany to Malta, valued at €500,000, with shipment required by March 2025, including specific requirements for technical inspection certificates and partial shipments allowed."
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1. LC Number and Date: Unique identification number of the LC and date of issuance
2. Issuing Bank Details: Complete name and address of the issuing bank
3. Applicant Details: Full name and address of the party requesting the LC (usually the buyer)
4. Beneficiary Details: Full name and address of the party in whose favor the LC is issued (usually the seller)
5. Currency and Amount: Currency denomination and amount of the LC in both figures and words
6. Expiry Date and Place: Clear statement of when and where the LC expires
7. Available With/By: Specification of how and where the LC is available (payment, acceptance, or negotiation)
8. Partial Shipments/Transshipment: Whether partial shipments or transshipment is allowed or prohibited
9. Loading/Dispatch/Taking in Charge: Place of taking in charge, dispatch, or loading
10. Port of Discharge/Final Destination: Final destination or port of discharge
11. Latest Date of Shipment: Final date by which shipment must be made
12. Document Presentation Period: Time period within which documents must be presented after shipment
13. Description of Goods/Services: Detailed description of the goods or services covered by the LC
1. Transferability Clause: Include when the LC needs to be transferable to another beneficiary
2. Confirmation Instructions: Include when confirmation from another bank is required
3. Special Payment Conditions: Include when there are specific conditions for payment beyond standard at sight terms
4. Reimbursement Instructions: Include when specific reimbursement arrangements between banks are required
5. Additional Conditions: Include when there are special requirements or conditions beyond standard LC terms
6. Green Clause: Include when advance payment to the beneficiary is permitted
7. Red Clause: Include when pre-shipment finance is to be provided to the beneficiary
1. Required Documents Schedule: Detailed list of all required documents for presentation (commercial invoice, transport documents, insurance documents, etc.)
2. Technical Specifications: Detailed specifications of goods or services when complex technical requirements exist
3. Price Schedule: Detailed breakdown of prices when multiple items or pricing components are involved
4. Shipping Terms: Detailed shipping instructions and Incoterms when complex logistics are involved
5. Bank Charges Schedule: Breakdown of various bank charges and who bears them
Authors
Relevant legal definitions
Advising Bank
Applicant
At Sight
Banking Day
Beneficiary
Bill of Lading
Commercial Invoice
Complying Presentation
Confirmation
Credit
Documents
Draft
Expiry Date
Force Majeure
Governing Law
Incoterms
Insurance Certificate
Issuing Bank
Letter of Credit
Negotiation
Nominated Bank
Original Documents
Packing List
Partial Shipment
Place of Expiry
Place of Presentation
Port of Discharge
Port of Loading
Presentation
Reimbursing Bank
Shipping Documents
Transshipment
UCP 600
Working Day
Applicant
At Sight
Banking Day
Beneficiary
Bill of Lading
Commercial Invoice
Complying Presentation
Confirmation
Credit
Documents
Draft
Expiry Date
Force Majeure
Governing Law
Incoterms
Insurance Certificate
Issuing Bank
Letter of Credit
Negotiation
Nominated Bank
Original Documents
Packing List
Partial Shipment
Place of Expiry
Place of Presentation
Port of Discharge
Port of Loading
Presentation
Reimbursing Bank
Shipping Documents
Transshipment
UCP 600
Working Day
Clauses
Document Presentation
Payment Terms
Expiry and Validity
Bank Obligations
Document Examination
Force Majeure
Shipping Terms
Document Requirements
Applicable Rules
Governing Law
Bank Charges
Amendment Conditions
Discrepancy Handling
Transfer Rights
Reimbursement
Notice Requirements
Anti-Money Laundering
Sanctions Compliance
Dispute Resolution
Assignment
Severability
Entire Agreement
Communications
Time Limits
Insurance Requirements
Payment Terms
Expiry and Validity
Bank Obligations
Document Examination
Force Majeure
Shipping Terms
Document Requirements
Applicable Rules
Governing Law
Bank Charges
Amendment Conditions
Discrepancy Handling
Transfer Rights
Reimbursement
Notice Requirements
Anti-Money Laundering
Sanctions Compliance
Dispute Resolution
Assignment
Severability
Entire Agreement
Communications
Time Limits
Insurance Requirements
Relevant Industries
Banking and Financial Services
International Trade
Manufacturing
Import/Export
Shipping and Logistics
Insurance
Retail
Commodities Trading
Agriculture
Mining
Oil and Gas
Textiles
Electronics
Automotive
Relevant Teams
Trade Finance
International Banking
Documentary Credits
Risk Management
Compliance
Treasury
Operations
Legal
International Sales
Procurement
Supply Chain
Finance
Shipping and Logistics
Relevant Roles
Trade Finance Manager
International Trade Specialist
Documentary Credits Officer
Banking Operations Manager
Import/Export Manager
Treasury Manager
Compliance Officer
Risk Manager
Financial Controller
Supply Chain Manager
Procurement Manager
Chief Financial Officer
International Sales Manager
Shipping Manager
Trade Operations Analyst
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