Usance Lc 90 Days for the Netherlands

Usance Lc 90 Days Template for Netherlands

A Usance Letter of Credit with 90 days payment terms is a specialized trade finance instrument governed by Dutch law and international banking regulations, particularly UCP 600. This document serves as a bank's commitment to pay the seller (beneficiary) 90 days after presentation of compliant documents, providing security to the seller while offering extended payment terms to the buyer. Operating under Netherlands jurisdiction, it incorporates both local financial regulations and international banking practices, making it a robust instrument for facilitating international trade transactions while managing credit risk and ensuring compliance with Dutch financial supervision requirements.

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What is a Usance Lc 90 Days?

The Usance LC 90 Days is a critical trade finance instrument used in international commerce when buyers require extended payment terms while ensuring sellers receive secure payment promises. This document type is particularly relevant in the Netherlands, where it operates within the framework of Dutch commercial law and European Union regulations. It combines the security of a bank's payment undertaking with a 90-day deferred payment period, making it ideal for transactions where working capital optimization is crucial. The document includes detailed specifications of the trade terms, document requirements, and payment conditions, all structured to comply with both Dutch financial regulations and international banking standards (UCP 600). It's commonly used in substantial cross-border transactions where the buyer seeks to balance cash flow management with the seller's need for payment security.

What sections should be included in a Usance Lc 90 Days?

1. LC Number and Date: Unique identification number of the LC and issuance date

2. Applicant Details: Full name, address, and contact information of the buyer/applicant

3. Beneficiary Details: Full name, address, and contact information of the seller/beneficiary

4. Issuing Bank Details: Name and address of the bank issuing the LC

5. Currency and Amount: LC value and currency specification

6. Availability and Expiry: How and where the credit is available, and expiry date

7. Payment Terms: 90-day usance terms and calculation method

8. Shipment Details: Latest shipment date, partial/transhipment permissions, ports of loading/discharge

9. Goods Description: Detailed description of goods being traded

10. Document Requirements: List of required documents for presentation

11. Special Conditions: Additional terms and conditions specific to this LC

What sections are optional to include in a Usance Lc 90 Days?

1. Advising Bank Details: Include when a specific advising bank is nominated

2. Confirmation Instructions: Include when LC confirmation is requested

3. Transferability Clause: Include when the LC needs to be transferable

4. Insurance Requirements: Include when specific insurance requirements exceed standard coverage

5. Pre-shipment Inspection: Include when inspection certificate is required before shipment

6. Back-to-Back LC Provisions: Include for back-to-back LC arrangements

7. Green Clause: Include when advance payment is permitted against warehouse receipts

What schedules should be included in a Usance Lc 90 Days?

1. Schedule A - Document Presentation Schedule: Detailed timeline for document presentation and examination

2. Schedule B - Goods Specification: Detailed technical specifications of the goods

3. Schedule C - Price Calculation Formula: If applicable, formula for calculating final price

4. Appendix 1 - Standard Document Formats: Templates for required documents

5. Appendix 2 - Bank's Standard LC Terms: General terms and conditions of the issuing bank

6. Appendix 3 - Shipping Terms Reference: Applicable Incoterms and shipping requirements

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Cost

Free to use

Relevant legal definitions

Clauses

Relevant Industries

International Trade

Banking and Financial Services

Manufacturing

Wholesale Distribution

Commodities Trading

Agriculture

Industrial Equipment

Textiles and Garments

Chemical Industry

Automotive

Electronics Manufacturing

Mining and Minerals

Energy and Resources

Relevant Teams

Treasury

Trade Finance

International Banking

Risk Management

Legal and Compliance

Procurement

Supply Chain Operations

Financial Control

International Sales

Documentary Credits

Trade Operations

Credit Administration

Relevant Roles

Trade Finance Manager

International Business Development Manager

Chief Financial Officer

Treasury Manager

Import/Export Manager

Documentary Credits Specialist

Trade Operations Manager

Risk Management Officer

Commercial Banking Officer

Supply Chain Manager

Procurement Manager

Financial Controller

Credit Risk Officer

Trade Compliance Officer

International Sales Manager

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Notice Of Credit

A Dutch-compliant formal document notifying the recipient of a credit applied to their account, including essential credit and reference information.

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What is a Usance Lc 90 Days?

What sections should be included in a Usance Lc 90 Days?

What sections are optional to include in a Usance Lc 90 Days?

What schedules should be included in a Usance Lc 90 Days?

Authors

Alex Denne

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