The Biaya Letter of Credit agreement is essential for businesses engaged in international trade in Indonesia that require Letter of Credit services from banks. This document is used when establishing a new L/C facility or updating existing fee arrangements with clients. It comprehensively outlines the cost structure for L/C services, ensuring compliance with Bank Indonesia regulations and providing transparency in banking charges. The agreement is particularly important in the Indonesian context where clear documentation of banking fees is required by regulatory authorities. It serves as a reference point for both the bank and its clients regarding all costs associated with L/C transactions, including issuance fees, amendment charges, and handling costs. The document should be updated periodically to reflect changes in the bank's fee structure or regulatory requirements.
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Key Requirements PROMPT example:
Biaya Letter Of Credit
"I need a Biaya Letter of Credit agreement for my manufacturing company that regularly imports raw materials from multiple countries, with specific provisions for volume-based fee discounts and quarterly fee reviews starting from March 2025."
1. Parties: Identification of the bank providing the L/C services and the customer requesting the L/C
2. Background: Brief context explaining the purpose of the agreement and the L/C service relationship
3. Definitions: Key terms used in the agreement, including technical L/C terminology and fee-related terms
4. L/C Service Scope: Description of the L/C services covered by this fee agreement
5. Fee Structure: Detailed breakdown of all applicable L/C fees and charges
6. Payment Terms: Terms and conditions for payment of L/C fees, including timing and method of payment
7. Bank's Rights and Obligations: The bank's responsibilities and rights regarding fee collection and service provision
8. Customer's Rights and Obligations: The customer's responsibilities and rights regarding fee payment and service usage
9. Term and Termination: Duration of the agreement and conditions for termination
10. Governing Law: Specification of Indonesian law as the governing law
1. Foreign Currency Provisions: Additional terms for L/Cs involving foreign currency transactions - include when L/Cs will involve foreign currency
2. Special Fee Arrangements: Custom fee arrangements or discounts - include for high-volume or special category customers
3. Multiple L/C Handling: Provisions for handling multiple L/Cs - include when customer regularly requires multiple L/Cs
4. Force Majeure: Provisions for handling fee obligations during force majeure events - include based on bank policy
5. Dispute Resolution: Specific dispute resolution procedures - include based on bank preference and transaction value
1. Schedule A - Fee Schedule: Detailed breakdown of all L/C fees, charges, and commission rates
2. Schedule B - Payment Procedures: Detailed procedures for fee payment, including account debit authorizations
3. Schedule C - Service Level Standards: Standards for L/C processing times and related service levels
4. Appendix 1 - Required Documents: List of required documents for L/C processing
5. Appendix 2 - Bank's Standard L/C Terms: Reference to the bank's standard L/C terms and conditions
Authors
Relevant legal definitions
Agreement
Applicable Law
Bank
Banking Day
Beneficiary
Biaya
Client
Commission
Correspondent Bank
Documentary Credit
Effective Date
Foreign Currency
Handling Charges
IDR
Issuance Fee
Letter of Credit (L/C)
L/C Amendment
L/C Application
L/C Facility
Negotiating Bank
Parties
Payment Terms
Prevailing Rate
Processing Fee
Rupiah
Schedule of Charges
Service Fees
Standard L/C Terms
Swift Charges
Term
UCP 600
Working Days
Applicable Law
Bank
Banking Day
Beneficiary
Biaya
Client
Commission
Correspondent Bank
Documentary Credit
Effective Date
Foreign Currency
Handling Charges
IDR
Issuance Fee
Letter of Credit (L/C)
L/C Amendment
L/C Application
L/C Facility
Negotiating Bank
Parties
Payment Terms
Prevailing Rate
Processing Fee
Rupiah
Schedule of Charges
Service Fees
Standard L/C Terms
Swift Charges
Term
UCP 600
Working Days
Clauses
Interpretation
Scope of Services
Fee Structure
Payment Terms
Currency Provisions
Bank's Rights and Obligations
Client's Rights and Obligations
Representations and Warranties
Fee Amendments
Force Majeure
Confidentiality
Term and Termination
Default
Indemnification
Assignment
Notices
Governing Law
Dispute Resolution
Entire Agreement
Severability
Amendments
Language
Anti-Money Laundering
Bank's Standard Terms
Authority and Capacity
Scope of Services
Fee Structure
Payment Terms
Currency Provisions
Bank's Rights and Obligations
Client's Rights and Obligations
Representations and Warranties
Fee Amendments
Force Majeure
Confidentiality
Term and Termination
Default
Indemnification
Assignment
Notices
Governing Law
Dispute Resolution
Entire Agreement
Severability
Amendments
Language
Anti-Money Laundering
Bank's Standard Terms
Authority and Capacity
Relevant Industries
Banking and Financial Services
International Trade
Import/Export
Manufacturing
Retail
Commodities Trading
Shipping and Logistics
Agricultural Trade
Mining and Resources
Wholesale Distribution
Relevant Teams
Trade Finance
International Banking
Corporate Banking
Treasury
Finance
Risk Management
Compliance
Legal
Operations
Client Relations
Relevant Roles
Trade Finance Manager
International Banking Officer
Chief Financial Officer
Finance Director
Treasury Manager
Import/Export Manager
Trade Operations Manager
Banking Relationship Manager
Corporate Banking Officer
Financial Controller
Risk Management Officer
Compliance Officer
Corporate Treasurer
Trade Finance Specialist
International Business Manager
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