The Advising Bank In Letter of Credit document is essential for international trade finance operations in Singapore. It is used when a bank acts as an advising bank to authenticate and communicate Letters of Credit to beneficiaries. This document ensures compliance with Singapore's Banking Act, MAS regulations, and international standards like UCP 600. It specifies the bank's duties in verifying authenticity, maintaining accurate records, and communicating terms, while protecting all parties' interests in the Letter of Credit transaction. The document is particularly crucial in Singapore's role as a major international trading hub, where Letters of Credit are frequently used in cross-border transactions.
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1. Bank Details: Complete details of the advising bank including registration number and address
2. Letter of Credit Reference: Unique identification number of the Letter of Credit being advised
3. Issuing Bank Details: Complete information about the bank that issued the Letter of Credit
4. Beneficiary Details: Information about the party to whom the Letter of Credit is being advised
5. Terms and Conditions: Exact replication of the Letter of Credit terms as received from the issuing bank
6. Authentication Statement: Confirmation of the authenticity of the Letter of Credit
1. Confirmation Statement: Added when the advising bank is also confirming the Letter of Credit - used when requested by issuing bank and agreed by advising bank
2. Transfer Provisions: Details about transferability of the Letter of Credit - included when the Letter of Credit is transferable
3. Special Instructions: Any specific requirements or conditions - used when there are unique requirements from issuing bank or local regulations
1. Fee Schedule: Details of applicable banking charges and fees
2. Document Checklist: List of required documents under the Letter of Credit
3. Authentication Certificate: Formal certification of Letter of Credit authenticity
4. SWIFT Message Copy: Copy of original SWIFT message received from issuing bank
Relevant legal definitions
Letter of Credit (L/C)
Advising Bank
Issuing Bank
Beneficiary
Applicant
Banking Day
Confirmation
Credit
Documentary Credit
Presentation
UCP 600
SWIFT
Documentary Requirements
Complying Presentation
Negotiation
Nominated Bank
Original
Transport Document
Commercial Invoice
Bank-to-Bank Reimbursement
Advice
Authentication
Banking Charges
Expiry Date
Force Majeure
Governing Law
Notice of Rejection
Reasonable Time
Transfer
Transferable Credit
Advising Bank
Issuing Bank
Beneficiary
Applicant
Banking Day
Confirmation
Credit
Documentary Credit
Presentation
UCP 600
SWIFT
Documentary Requirements
Complying Presentation
Negotiation
Nominated Bank
Original
Transport Document
Commercial Invoice
Bank-to-Bank Reimbursement
Advice
Authentication
Banking Charges
Expiry Date
Force Majeure
Governing Law
Notice of Rejection
Reasonable Time
Transfer
Transferable Credit
Clauses
Authentication and Verification
Bank's Obligations
Communication Procedures
Confidentiality
Document Examination
Fees and Charges
Force Majeure
Governing Law
Indemnification
Liability Limitations
Money Laundering Prevention
Notice Requirements
Payment Terms
Presentation Requirements
Record Keeping
Regulatory Compliance
Representations and Warranties
Risk Allocation
Security Measures
Service Standards
Termination
Time Limits
Transfer Rights
SWIFT Communications
Bank's Obligations
Communication Procedures
Confidentiality
Document Examination
Fees and Charges
Force Majeure
Governing Law
Indemnification
Liability Limitations
Money Laundering Prevention
Notice Requirements
Payment Terms
Presentation Requirements
Record Keeping
Regulatory Compliance
Representations and Warranties
Risk Allocation
Security Measures
Service Standards
Termination
Time Limits
Transfer Rights
SWIFT Communications
Relevant Industries
Relevant Teams
Relevant Roles
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