The Letter of Credit 30 Days is a fundamental trade finance instrument used in international commerce under UAE jurisdiction. It is particularly suitable for transactions where sellers require payment security but are willing to extend a 30-day credit period after document presentation. The document incorporates essential elements required by UAE Federal Law No. 18 of 1993 and Central Bank regulations, while also adhering to international UCP 600 standards. It specifies the conditions for payment, required documentation, and compliance requirements, providing a balanced mechanism that protects both importers and exporters. This instrument is commonly used in UAE's robust trading environment, particularly in Dubai's active import/export market, and includes specific provisions for document examination, payment processing, and dispute resolution under UAE law.
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1. Letter Reference and Date: Unique LC reference number and issuance date
2. Applicant Details: Full name, address, and contact information of the party requesting the LC (buyer/importer)
3. Beneficiary Details: Full name, address, and contact information of the party receiving the LC (seller/exporter)
4. Issuing Bank Details: Name and details of the bank issuing the LC
5. Credit Amount and Currency: Specified amount and currency of the LC
6. Expiry Date: 30-day validity period with specific expiration date and place
7. Form of Credit: Specification that this is an irrevocable 30-day LC
8. Payment Terms: Conditions and timing of payment, specifically the 30-day payment structure
9. Required Documents: List of documents required for LC activation and payment
10. Shipment Terms: Details of shipment including latest shipment date and partial shipments status
11. Governing Law: Specification of UAE law as governing law
1. Advising Bank Details: Include when a separate advising bank is involved in the transaction
2. Confirmation Instructions: Include when LC requires confirmation from another bank
3. Transhipment Conditions: Include when specific transhipment requirements need to be specified
4. Insurance Requirements: Include when specific insurance coverage needs to be detailed
5. Special Conditions: Include when additional terms or conditions specific to the trade are required
6. Bank Charges: Include when there's a need to specify the allocation of banking charges
1. Schedule A - Commercial Invoice Requirements: Detailed requirements for the format and content of commercial invoices
2. Schedule B - Transport Document Requirements: Specifications for bills of lading or other transport documents
3. Schedule C - Goods Description: Detailed description of goods, including quantities and specifications
4. Appendix 1 - Document Checklist: Comprehensive checklist of all required documents
5. Appendix 2 - Bank Contact Details: Complete contact information for all banks involved in the transaction
6. Appendix 3 - SWIFT Message Format: Standard format for SWIFT messages related to the LC
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
International Trade
Manufacturing
Retail
Commodities Trading
Oil and Gas
Construction Materials
Textiles and Garments
Agriculture and Food
Automotive
Electronics and Technology
Pharmaceutical
Relevant Teams
Trade Finance
Treasury
International Banking
Credit Administration
Risk Management
Legal and Compliance
Procurement
Supply Chain
Finance
International Business Development
Operations
Documentary Credits
Relevant Roles
Trade Finance Manager
Import/Export Manager
Chief Financial Officer
Treasury Manager
Finance Director
Commercial Director
Trade Operations Manager
Credit Manager
Banking Relationship Manager
Procurement Manager
Supply Chain Manager
International Business Development Manager
Documentary Credits Specialist
Risk Management Officer
Compliance Officer
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