The Advised Letter of Credit is a critical document in international trade finance, used when a South African bank acts as an intermediary to authenticate and communicate a Letter of Credit issued by a foreign bank. This document type is essential when parties require local bank verification of international trade finance instruments. It includes detailed information about the Letter of Credit's terms, conditions, and documentary requirements, while operating within South Africa's regulatory framework, including compliance with the Banks Act 94 of 1990, Currency and Exchanges Act, and international UCP 600 rules. The document is particularly relevant for cross-border transactions where South African entities are beneficiaries of Letters of Credit issued by foreign banks, providing them with verified information about their trade finance arrangements while ensuring compliance with local banking regulations and foreign exchange controls.
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1. Bank Details and Reference: Advising bank's letterhead, contact details, and unique LC reference number
2. Date and Urgency: Issue date and indication of urgency/priority level
3. Beneficiary Details: Full name and address of the beneficiary of the Letter of Credit
4. Issuing Bank Information: Details of the bank that issued the original Letter of Credit
5. LC Authentication Statement: Confirmation of the authenticity of the Letter of Credit received from the issuing bank
6. LC Terms and Conditions: Complete details of the LC including amount, expiry date, and required documents
7. Documentary Requirements: Specific list of documents required for presentation under the LC
8. Presentation Instructions: Details of where and how documents should be presented
9. Advising Bank Disclaimer: Standard disclaimer regarding the advising bank's role and responsibilities
10. Authorized Signatures: Space for authorized bank officials' signatures
1. Special Instructions: Used when there are specific handling requirements or unusual terms that need highlighting
2. Transfer Details: Include when the LC is transferable and details about transfer conditions need to be specified
3. Confirmation Status: Required when the LC includes a request for confirmation or when confirmation has been added
4. Amendment Section: Include when advising amendments to an existing Letter of Credit
5. Regulatory Compliance Notice: Include when specific South African regulatory requirements need to be highlighted
6. Foreign Exchange Requirements: Include when specific forex requirements or restrictions apply under South African law
1. Schedule A - Document Checklist: Detailed checklist of all required documents and their specifications
2. Schedule B - Fee Schedule: Breakdown of all applicable banking charges and fees
3. Schedule C - Presentation Timeline: Calendar of critical dates including shipping, presentation, and expiry dates
4. Appendix 1 - Original LC Text: Copy of the original Letter of Credit as received from the issuing bank
5. Appendix 2 - SWIFT Message: Copy of the SWIFT message received from the issuing bank
6. Appendix 3 - Regulatory Declarations: Any required regulatory forms or declarations under South African law
Relevant legal definitions
Advising Bank
Applicant
Banking Day
Beneficiary
Confirmation
Confirming Bank
Credit
Documents
Documentary Credit
Draft
Exchange Control Regulations
Expiry Date
Foreign Exchange
Issuing Bank
Letter of Credit
Negotiating Bank
Presentation
Presenting Bank
Regulatory Authority
SARB
SWIFT
Trade Finance
UCP 600
Authorized Bank Official
Banking Charges
Clean Collection
Complying Presentation
Documentary Collection
Original Documents
Payment Terms
Shipping Documents
Trade Transaction
Transfer Rights
Valid Notice
Applicant
Banking Day
Beneficiary
Confirmation
Confirming Bank
Credit
Documents
Documentary Credit
Draft
Exchange Control Regulations
Expiry Date
Foreign Exchange
Issuing Bank
Letter of Credit
Negotiating Bank
Presentation
Presenting Bank
Regulatory Authority
SARB
SWIFT
Trade Finance
UCP 600
Authorized Bank Official
Banking Charges
Clean Collection
Complying Presentation
Documentary Collection
Original Documents
Payment Terms
Shipping Documents
Trade Transaction
Transfer Rights
Valid Notice
Clauses
Authentication
Bank Disclaimer
Confidentiality
Document Requirements
Fees and Charges
Foreign Exchange Compliance
Governing Law
Instructions for Presentation
Letter of Credit Terms
Notices
Payment Terms
Presentation Requirements
Regulatory Compliance
Representations and Warranties
Risk Allocation
SWIFT Communications
Transfer Rights
UCP 600 Compliance
Validity Period
Verification Process
Bank Disclaimer
Confidentiality
Document Requirements
Fees and Charges
Foreign Exchange Compliance
Governing Law
Instructions for Presentation
Letter of Credit Terms
Notices
Payment Terms
Presentation Requirements
Regulatory Compliance
Representations and Warranties
Risk Allocation
SWIFT Communications
Transfer Rights
UCP 600 Compliance
Validity Period
Verification Process
Relevant Industries
Banking and Financial Services
International Trade
Import/Export
Manufacturing
Agriculture
Mining
Retail
Wholesale
Logistics and Transportation
Commodities Trading
Energy
Telecommunications
Relevant Teams
Trade Finance
International Banking
Documentary Credits
Compliance
Treasury
Risk Management
Foreign Exchange
Banking Operations
Credit Control
Legal Affairs
Financial Control
Relevant Roles
Trade Finance Manager
Letter of Credit Specialist
International Banking Officer
Compliance Officer
Treasury Manager
Export Finance Manager
Documentary Credits Manager
Banking Operations Manager
Risk Management Officer
Foreign Exchange Manager
Chief Financial Officer
International Trade Specialist
Banking Relationship Manager
Credit Control Manager
Financial Controller
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