The Structured Letter of Credit is a sophisticated financial instrument used in international trade transactions where enhanced security and specific payment structures are required. This document type, governed by Belgian law, combines the traditional letter of credit's payment security with structured elements that can accommodate complex trading arrangements. It is particularly useful when standard letters of credit are insufficient for the transaction's requirements. The document incorporates specific terms regarding payment timing, document presentation requirements, and conditions for payment release. Structured Letters of Credit are commonly used in high-value transactions, projects requiring staged payments, or trade deals involving multiple parties or special financing arrangements. The document must comply with both Belgian financial regulations and international banking practices, particularly the UCP 600 rules, while potentially incorporating specific requirements of the Belgian financial regulatory framework.
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1. Letter Reference Number and Date: Unique identification number and issuance date of the Letter of Credit
2. Bank Details: Full details of the issuing bank including name, address, and SWIFT code
3. Beneficiary Information: Complete details of the beneficiary including name, address, and account information
4. Applicant Information: Complete details of the applicant (buyer) including name, address, and reference numbers
5. Credit Amount and Currency: Specification of the maximum credit amount and currency
6. Credit Type and Availability: Details of how and where the credit is available (sight, deferred payment, negotiation, etc.)
7. Expiry Date and Place: Clear statement of when and where the credit expires
8. Document Requirements: Detailed list of required documents for credit utilization
9. Goods Description: Brief but precise description of the goods or services covered
10. Shipment Terms: Specifications for shipment including latest shipment date and partial shipments
11. Governing Law Declaration: Statement confirming Belgian law as governing law and UCP 600 application
1. Transferability Clause: Include when the credit needs to be transferable to another beneficiary
2. Revolving Terms: Include for credits that automatically renew under specified conditions
3. Red Clause: Include when advance payment to beneficiary is permitted
4. Green Clause: Include when storage of goods is involved with advance payment
5. Back-to-Back Provisions: Include when the credit supports a back-to-back arrangement
6. Assignment of Proceeds: Include when proceeds can be assigned to a third party
7. Confirmation Instructions: Include when confirmation by another bank is required
1. Schedule A - Document Requirements: Detailed checklist of required documents and their specific requirements
2. Schedule B - Commercial Invoice Requirements: Specific requirements for the format and content of commercial invoices
3. Schedule C - Transport Document Requirements: Detailed requirements for bills of lading or other transport documents
4. Schedule D - Insurance Document Requirements: Specifications for insurance documents if required
5. Appendix 1 - SWIFT Message Format: Standard format for SWIFT MT700 series messages
6. Appendix 2 - Fee Schedule: Detailed breakdown of all applicable bank charges and fees
7. Appendix 3 - Amendment Procedure: Standard procedure for requesting and processing amendments to the LC
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
International Trade
Import/Export
Manufacturing
Commodities Trading
Shipping and Logistics
Agriculture
Energy and Resources
Wholesale Distribution
Retail
Construction
Heavy Industry
Relevant Teams
Trade Finance
International Banking
Treasury
Legal
Compliance
Risk Management
Documentary Credits
Global Transaction Banking
Trade Operations
Credit Administration
Financial Control
International Business Development
Relevant Roles
Trade Finance Manager
International Banking Officer
Documentary Credits Specialist
Treasury Manager
Import/Export Manager
Trade Operations Manager
Financial Controller
Credit Risk Officer
Compliance Officer
International Trade Specialist
Banking Relationship Manager
Letter of Credit Analyst
Chief Financial Officer
Trade Finance Director
Global Transaction Banking Officer
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