The Letter of Credit 30 Days is a fundamental trade finance instrument used to facilitate secure international trade transactions under Dutch jurisdiction. It provides payment security to sellers while offering buyers a 30-day payment term, effectively bridging the trust gap in international commerce. This document is particularly crucial when parties are engaging in new business relationships or when dealing with significant transaction values. The L/C specifies all conditions for payment, including required documentation, compliance requirements, and timelines, while adhering to Dutch banking regulations, EU financial directives, and international banking practices (UCP 600). It serves as a binding commitment from a bank to pay the beneficiary, subject to the presentation of compliant documents within the specified timeframe.
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1. Bank Details and Reference Number: Issuing bank's details, L/C reference number, and date of issuance
2. Applicant Information: Complete details of the party requesting the Letter of Credit (buyer/importer)
3. Beneficiary Information: Complete details of the party in whose favor the L/C is issued (seller/exporter)
4. Currency and Amount: Specification of the L/C amount and currency
5. Expiry Date: Clear statement of the L/C expiry date and place
6. Payment Terms: Specification of 30-day payment terms and conditions for payment
7. Required Documents: List of documents required for presentation (commercial invoice, transport documents, etc.)
8. Goods Description: Detailed description of the goods/services covered by the L/C
9. Shipment Terms: Shipping details including latest shipment date and partial shipment/transshipment conditions
10. Presentation Period: Time period within which documents must be presented after shipment
11. Governing Law: Statement that Dutch law governs the L/C
1. Insurance Requirements: Required when specific insurance coverage needs to be specified for the shipment
2. Special Conditions: Any additional terms or conditions specific to the transaction
3. Transfer Conditions: Include when the L/C needs to be transferable to a second beneficiary
4. Red Clause: Used when advance payment to the beneficiary is allowed
5. Back-to-Back Provisions: Required when the L/C will be used as collateral for another L/C
6. Revolving Terms: Include when the L/C is intended to revolve in value or time
1. Document Presentation Checklist: Detailed checklist of required documents and their specifications
2. Bank's Standard L/C Terms and Conditions: General terms and conditions applicable to all L/Cs issued by the bank
3. UCP 600 Reference Guide: Quick reference guide to relevant UCP 600 articles
4. Required Document Formats: Templates or formats for required documents like commercial invoice, packing list, etc.
5. Fee Schedule: Breakdown of all applicable bank charges and fees
Relevant legal definitions
Advising Bank
Applicant
Banking Day
Beneficiary
Bill of Lading
Commercial Invoice
Complying Presentation
Credit
Document Presentation
Expiry Date
Governing Law
Insurance Certificate
Issuing Bank
Letter of Credit
Maturity Date
Negotiating Bank
Packing List
Partial Shipment
Payment Terms
Presentation Period
Reimbursing Bank
Required Documents
Shipping Documents
Tenor
Trade Documents
Transhipment
UCP 600
Underlying Transaction
Working Day
Applicant
Banking Day
Beneficiary
Bill of Lading
Commercial Invoice
Complying Presentation
Credit
Document Presentation
Expiry Date
Governing Law
Insurance Certificate
Issuing Bank
Letter of Credit
Maturity Date
Negotiating Bank
Packing List
Partial Shipment
Payment Terms
Presentation Period
Reimbursing Bank
Required Documents
Shipping Documents
Tenor
Trade Documents
Transhipment
UCP 600
Underlying Transaction
Working Day
Clauses
Payment Terms
Document Requirements
Expiry and Presentation
Bank Obligations
Force Majeure
Amendments
Assignment
Governing Law
Dispute Resolution
Notices
Fees and Charges
Documentary Compliance
Shipping Terms
Transfer Rights
Bank Communications
Anti-Money Laundering
Sanctions Compliance
Document Examination
Non-Documentary Conditions
Reimbursement Obligations
Default Events
Confirmation Terms
Negotiation Rights
Insurance Requirements
Document Requirements
Expiry and Presentation
Bank Obligations
Force Majeure
Amendments
Assignment
Governing Law
Dispute Resolution
Notices
Fees and Charges
Documentary Compliance
Shipping Terms
Transfer Rights
Bank Communications
Anti-Money Laundering
Sanctions Compliance
Document Examination
Non-Documentary Conditions
Reimbursement Obligations
Default Events
Confirmation Terms
Negotiation Rights
Insurance Requirements
Relevant Industries
International Trade
Banking and Financial Services
Manufacturing
Import/Export
Retail
Wholesale
Commodities Trading
Agriculture
Industrial Equipment
Consumer Goods
Energy
Mining
Textiles
Electronics
Automotive
Relevant Teams
Legal
Finance
Treasury
International Trade
Procurement
Supply Chain
Sales
Risk Management
Compliance
Trade Operations
Credit Control
Relevant Roles
Trade Finance Manager
Import Manager
Export Manager
Treasury Manager
Financial Controller
Chief Financial Officer
Procurement Manager
Supply Chain Manager
International Sales Manager
Credit Risk Manager
Documentary Credits Specialist
Trade Operations Manager
Compliance Officer
Legal Counsel
Banking Relationship Manager
Trade Finance Analyst
Documentary Collections Officer
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