An Advised Letter of Credit is a crucial document in international trade finance, particularly within the Malaysian banking framework. It is used when a bank (the advising bank) in the beneficiary's country verifies the authenticity of a Letter of Credit issued by a foreign bank and advises it to the beneficiary. The document becomes necessary when parties engage in cross-border trade transactions where the beneficiary requires local bank verification of the credit's authenticity. Under Malaysian jurisdiction, these documents must comply with both domestic banking regulations and international banking practices, including the UCP 600. The advising bank's role is to confirm the apparent authenticity of the credit without taking on payment obligations, providing the beneficiary with confidence to proceed with the transaction.
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1. Letter Header and Date: Advising bank's letterhead, reference numbers, and date of issuance
2. Beneficiary Details: Complete name and address of the beneficiary receiving the advised LC
3. Issuing Bank Details: Name and address of the bank that issued the original LC
4. Letter of Credit Details: LC number, date of issuance, and currency/amount
5. Transaction Specifications: Details of the underlying commercial transaction, including goods/services description
6. Terms and Conditions: Key conditions, expiry date, and place of expiry
7. Required Documents: List of documents required for presentation
8. Shipping Terms: Latest shipment date, partial shipments, transhipment conditions
9. Payment Terms: Method and timing of payment, negotiation conditions
10. Authentication Statement: Statement confirming the authenticity of the LC
11. Disclaimer: Advising bank's role and limitation of liability
12. Closing and Signature: Authorized signature block and contact information
1. Transfer Terms: Include when the LC is transferable, specifying conditions for transfer
2. Back-to-Back Arrangements: Include when there are back-to-back LC arrangements
3. Islamic Banking Compliance: Include for Shariah-compliant LCs, stating relevant principles and compliance
4. Confirmation Details: Include when the LC is confirmed by the advising bank
5. Special Instructions: Include when there are specific handling or processing requirements
6. Reimbursement Instructions: Include when special reimbursement arrangements apply
1. Original LC Copy: Authenticated copy of the original Letter of Credit
2. Document Checklist: Detailed checklist of required documents and their specifications
3. Fee Schedule: Breakdown of applicable banking charges and fees
4. Presentation Instructions: Detailed instructions for document presentation
5. Swift Message Copy: Copy of the SWIFT message containing the LC details
6. Amendment Form: Standard form for requesting amendments to the LC
Relevant legal definitions
Advising Bank
Letter of Credit
Issuing Bank
Beneficiary
Applicant
Presentation
Banking Day
Complying Presentation
Credit
Documents
Goods
Negotiation
Reimbursing Bank
SWIFT
Transport Document
Commercial Invoice
Bill of Exchange
Place of Expiry
Shipment
Port of Loading
Port of Discharge
Incoterms
Bank Negara Malaysia
Financial Services Act
UCP 600
Confirmation
Documentary Credit
Sight Payment
Deferred Payment
Clean Collection
Letter of Credit
Issuing Bank
Beneficiary
Applicant
Presentation
Banking Day
Complying Presentation
Credit
Documents
Goods
Negotiation
Reimbursing Bank
SWIFT
Transport Document
Commercial Invoice
Bill of Exchange
Place of Expiry
Shipment
Port of Loading
Port of Discharge
Incoterms
Bank Negara Malaysia
Financial Services Act
UCP 600
Confirmation
Documentary Credit
Sight Payment
Deferred Payment
Clean Collection
Clauses
Authentication
Document Examination
Payment Terms
Document Presentation
Expiry and Validity
Shipping Terms
Bank Charges
Disclaimers
Force Majeure
Governing Law
Compliance
Anti-Money Laundering
Document Requirements
Negotiation Rights
Transfer Rights
Amendment Procedures
Reimbursement
Notices
Confidentiality
Dispute Resolution
Banking Instructions
Sanctions Compliance
Documentary Requirements
Liability Limitation
Foreign Exchange
Document Examination
Payment Terms
Document Presentation
Expiry and Validity
Shipping Terms
Bank Charges
Disclaimers
Force Majeure
Governing Law
Compliance
Anti-Money Laundering
Document Requirements
Negotiation Rights
Transfer Rights
Amendment Procedures
Reimbursement
Notices
Confidentiality
Dispute Resolution
Banking Instructions
Sanctions Compliance
Documentary Requirements
Liability Limitation
Foreign Exchange
Relevant Industries
Banking and Financial Services
International Trade
Manufacturing
Import/Export
Retail
Commodities
Agriculture
Construction
Energy
Telecommunications
Automotive
Textiles
Electronics
Relevant Teams
Trade Finance
International Banking
Documentary Credits
Export Finance
Compliance
Treasury
Trade Operations
Credit Analysis
Risk Management
Finance
Legal
Customer Relations
Trade Documentation
Relevant Roles
Trade Finance Manager
International Banking Officer
Documentary Credits Specialist
Export Finance Manager
Compliance Officer
Treasury Manager
Trade Operations Manager
Letter of Credit Analyst
Banking Relationship Manager
Chief Financial Officer
Finance Director
Import/Export Manager
Trade Documentation Specialist
Risk Management Officer
Credit Control Manager
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