The 30-Day Letter of Credit is a crucial trade finance instrument in Singapore's commercial landscape. It provides a secure payment mechanism where the issuing bank guarantees payment to the seller within 30 days of receiving compliant documents. This document type is particularly relevant for international trade transactions where parties seek to minimize risk while maintaining efficient payment terms. Under Singapore law and international banking practices, the Letter of Credit 30 Days combines the security of bank-backed payment with reasonable credit terms, making it an essential tool for trade finance.
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1. LC Number and Date: Unique identifier and issuance date of the Letter of Credit
2. Issuing Bank Details: Complete information of the bank issuing the Letter of Credit
3. Applicant Details: Full name, address and contact information of the party requesting the LC (typically the buyer)
4. Beneficiary Details: Full name, address and contact information of the party in whose favor the LC is issued (typically the seller)
5. Currency and Amount: Specified currency and value of the Letter of Credit, both in figures and words
6. Availability and Expiry: 30-day payment terms, method of availability, and expiry conditions
7. Document Requirements: Detailed list of required documents for LC payment including commercial invoice, transport documents, etc.
8. Shipment Terms: Latest shipment date, port of loading/discharge, and delivery terms
1. Partial Shipments: Clause indicating whether partial shipments are allowed or prohibited
2. Transhipment: Terms and conditions regarding transhipment of goods
3. Insurance Coverage: Specific insurance requirements if applicable to the transaction
4. Special Conditions: Additional terms or conditions specific to the transaction
5. Transfer Conditions: Terms regarding whether the LC is transferable and associated conditions
1. Commercial Invoice Template: Standardized format for presentation of commercial invoice
2. Transport Document Requirements: Detailed specifications for required shipping/transport documents
3. Bank Amendment Form: Standard template for requesting amendments to LC terms
4. Document Presentation Checklist: Checklist for ensuring all required documents are properly presented
5. UCP 600 Reference Guide: Quick reference guide to relevant UCP 600 articles applicable to the LC
Relevant legal definitions
Letter of Credit
Issuing Bank
Applicant
Beneficiary
Advising Bank
Presentation
Complying Presentation
Banking Day
Credit
Document Requirements
Expiry Date
Maturity Date
Negotiation
Original Documents
Payment Terms
Shipment
Trade Terms
UCP 600
Value Date
Commercial Invoice
Bill of Lading
Transport Document
Collection Bank
Discrepancy
Documentary Credit
Sight Payment
Deferred Payment
Contract Amount
Port of Loading
Port of Discharge
Issuing Bank
Applicant
Beneficiary
Advising Bank
Presentation
Complying Presentation
Banking Day
Credit
Document Requirements
Expiry Date
Maturity Date
Negotiation
Original Documents
Payment Terms
Shipment
Trade Terms
UCP 600
Value Date
Commercial Invoice
Bill of Lading
Transport Document
Collection Bank
Discrepancy
Documentary Credit
Sight Payment
Deferred Payment
Contract Amount
Port of Loading
Port of Discharge
Clauses
Identification of Parties
Credit Amount
Payment Terms
Document Requirements
Presentation Period
Expiry and Place
Partial Shipments
Transhipment
Loading/Discharge Ports
Latest Shipment Date
Description of Goods
Document Presentation
Discrepancy Handling
Bank Charges
Confirmation Instructions
Insurance Coverage
Governing Law
Force Majeure
Amendment Conditions
Transfer Rights
Assignment
Notice Requirements
Dispute Resolution
Compliance with UCP 600
Anti-Money Laundering
Sanctions Compliance
Default Provisions
Banking Instructions
Reimbursement Terms
Document Examination Standards
Credit Amount
Payment Terms
Document Requirements
Presentation Period
Expiry and Place
Partial Shipments
Transhipment
Loading/Discharge Ports
Latest Shipment Date
Description of Goods
Document Presentation
Discrepancy Handling
Bank Charges
Confirmation Instructions
Insurance Coverage
Governing Law
Force Majeure
Amendment Conditions
Transfer Rights
Assignment
Notice Requirements
Dispute Resolution
Compliance with UCP 600
Anti-Money Laundering
Sanctions Compliance
Default Provisions
Banking Instructions
Reimbursement Terms
Document Examination Standards
Relevant Industries
Relevant Teams
Relevant Roles
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