tiktok���˰�

An Irrevocable Revolving Letter of Credit is used when parties require a recurring, secure payment mechanism in international trade transactions. This document, governed by Belgian law, provides a sophisticated solution for ongoing trading relationships where regular shipments or services are involved. The irrevocable nature means the terms cannot be modified or cancelled without agreement from all parties, while the revolving feature allows the credit amount to be automatically reinstated after each utilization, either on a time or value basis. The document is structured to comply with Belgian banking regulations, EU financial directives, and international banking practices (UCP 600), making it particularly suitable for European trade relationships. It includes detailed specifications for document presentation, payment terms, revolving mechanisms, and bank obligations, while incorporating necessary compliance elements for anti-money laundering and financial security regulations.

1. Letter Reference Number: Unique identification number of the Letter of Credit

2. Date of Issuance: Date when the Letter of Credit is issued

3. Applicant Details: Full name, address, and contact information of the party requesting the Letter of Credit

4. Beneficiary Details: Full name, address, and contact information of the party in whose favor the Letter of Credit is issued

5. Issuing Bank Details: Full name, address, and contact information of the bank issuing the Letter of Credit

6. Credit Amount and Currency: Maximum amount available and currency of the Letter of Credit

7. Expiry Date and Place: Date and location where the Letter of Credit expires

8. Revolving Terms: Specific terms of how the credit revolves (time basis or value basis) and reinstatement conditions

9. Available With/By: Where and how the credit is available (payment, acceptance, negotiation)

10. Required Documents: Detailed list of documents required for presentation

11. Shipment Terms: Details of shipment including latest shipment date if applicable

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

13. Partial Shipments/Drawings: Whether partial shipments or drawings are allowed or prohibited

14. Transhipment: Whether transhipment is allowed or prohibited

15. Governing Law: Specification of Belgian law as governing law