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Non Negotiable Letter Of Credit Template for Austria

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Key Requirements PROMPT example:

Non Negotiable Letter Of Credit

"I need a Non-Negotiable Letter of Credit for 鈧2.5 million to facilitate the export of automotive parts from our Austrian manufacturing facility to a buyer in South Korea, with document presentation required by March 2025 and strict quality certification requirements."

Document background
The Non-Negotiable Letter of Credit is a fundamental instrument in international trade finance, designed to provide payment security while facilitating cross-border transactions. This document type is particularly relevant when parties seek a secure payment method with the backing of a reliable banking institution under Austrian jurisdiction. It contains specific terms and conditions regarding document presentation, payment obligations, and compliance requirements, all governed by Austrian law and international banking practices. The non-negotiable nature means it can only be paid to the named beneficiary, providing additional security. The document must comply with Austrian Banking Act requirements, EU regulations, and international banking standards (UCP 600), making it a robust instrument for international trade transactions while ensuring regulatory compliance within the Austrian legal framework.
Suggested Sections

1. Issuing Bank Details: Complete details of the bank issuing the letter of credit, including name, address, SWIFT code, and reference numbers

2. Beneficiary Information: Full details of the beneficiary including name, address, and bank account information

3. Applicant Information: Complete details of the applicant (buyer) requesting the letter of credit

4. Credit Amount and Currency: Specification of the credit amount, currency, and whether any tolerance is permitted

5. Form of Credit: Clear statement that this is a non-negotiable letter of credit and its irrevocability status

6. Expiry Date and Place: Specific date and location where the credit expires

7. Documentary Requirements: Detailed list of required documents for presentation (commercial invoice, transport documents, etc.)

8. Shipment Terms: Details of shipment including latest shipment date, partial shipments, transhipment provisions

9. Presentation Period: Time period within which documents must be presented after shipment

10. Payment Terms: Specification of when and how payment will be made (at sight, deferred payment, etc.)

11. Governing Law Statement: Clear statement that the credit is subject to Austrian law and UCP 600

Optional Sections

1. Transfer Provisions: Include when the credit needs to be transferable to a second beneficiary

2. Confirmation Instructions: Used when confirmation by another bank is required or prohibited

3. Special Conditions: Any additional terms or conditions specific to the transaction

4. Revolving Credit Terms: Include when the credit is revolving rather than single-use

5. Red Clause Provisions: Used when advance payment facilities are to be provided to the beneficiary

6. Back-to-Back Provisions: Include when the credit is part of a back-to-back arrangement

Suggested Schedules

1. Schedule A - Commercial Invoice Requirements: Detailed specifications for the format and content of commercial invoices

2. Schedule B - Transport Document Requirements: Specific requirements for bills of lading or other transport documents

3. Schedule C - Goods Description: Detailed description of the goods, including specifications and quantities

4. Appendix 1 - Document Presentation Checklist: Checklist of all required documents and their specific requirements

5. Appendix 2 - Bank Contact Details: Complete contact information for all banks involved in the transaction

6. Appendix 3 - Fee Schedule: Detailed breakdown of all applicable banking fees and charges

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions









































Clauses






























Relevant Industries

Banking and Financial Services

International Trade

Import/Export

Manufacturing

Retail

Commodities Trading

Agriculture

Mining

Energy

Automotive

Electronics

Textiles

Chemical Industry

Pharmaceutical

Logistics and Transportation

Relevant Teams

Legal

Finance

International Trade

Treasury

Compliance

Risk Management

Operations

Supply Chain

Documentary Credits

Trade Services

Banking Relations

Relevant Roles

Trade Finance Manager

International Banking Officer

Documentary Credits Specialist

Export Finance Manager

Import Operations Manager

Trade Operations Officer

Compliance Officer

Legal Counsel

Credit Risk Manager

Treasury Manager

Financial Controller

Banking Relationship Manager

International Trade Specialist

Supply Chain Manager

Chief Financial Officer

Documentary Collections Officer

Trade Services Manager

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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