The Unconfirmed LC is a crucial trade finance instrument used when parties seek a bank's payment guarantee while conducting international business transactions. It provides sellers with the issuing bank's commitment to pay upon presentation of compliant documents, though without additional bank confirmation. Under Singapore jurisdiction, these documents are particularly robust due to the country's strong financial regulatory framework and its position as a major trading hub. The document typically includes detailed terms about payment conditions, required documentation, timeframes, and compliance requirements, all aligned with Singapore law and international banking practices.
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1. LC Number and Date: Unique identification number and issuance date of the Letter of Credit
2. Applicant Details: Full name, address, and contact information of the party requesting the Letter of Credit
3. Beneficiary Details: Full name, address, and contact information of the party in whose favor the LC is issued
4. Amount and Currency: Specification of the Letter of Credit value and currency denomination
5. Expiry Date and Place: Validity period of the LC and location where documents must be presented
6. Documents Required: Comprehensive list of documents required for LC presentation and payment
7. Shipment Terms: Details of shipment including latest shipment date and destination
1. Partial Shipments: Clause specifying whether partial shipments are allowed under the LC
2. Transhipment: Terms and conditions regarding whether transhipment is permitted during transport
3. Transfer Conditions: Specific terms and conditions under which the LC may be transferred to another beneficiary
4. Special Conditions: Any additional terms, conditions, or requirements specific to this LC
1. Commercial Invoice Template: Standardized format for presentation of commercial invoice
2. Transport Document Requirements: Detailed specifications for bills of lading or airway bills
3. Bank Authorization Forms: Standard forms required for bank processing and authentication
4. Document Checklist: Comprehensive checklist of all required documents and their specifications
Relevant legal definitions
Clauses
Amount and Currency
Availability and Expiry
Bank Charges
Beneficiary Rights
Document Presentation
Documents Required
Force Majeure
Governing Law
Insurance Requirements
Non-Assignment
Notice Requirements
Payment Terms
Place of Presentation
Shipment Terms
Specifications of Goods
Transfer Rights
Transportation Requirements
Variation
Waiver
Warranties and Representations
Availability and Expiry
Bank Charges
Beneficiary Rights
Document Presentation
Documents Required
Force Majeure
Governing Law
Insurance Requirements
Non-Assignment
Notice Requirements
Payment Terms
Place of Presentation
Shipment Terms
Specifications of Goods
Transfer Rights
Transportation Requirements
Variation
Waiver
Warranties and Representations
Relevant Industries
Relevant Teams
Relevant Roles
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