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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."
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
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
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
Banking and Financial Services
International Trade
Import/Export
Manufacturing
Retail
Commodities Trading
Agriculture
Mining
Energy
Automotive
Electronics
Textiles
Chemical Industry
Pharmaceutical
Logistics and Transportation
Legal
Finance
International Trade
Treasury
Compliance
Risk Management
Operations
Supply Chain
Documentary Credits
Trade Services
Banking Relations
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
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