The Bank Guarantee Letter of Credit is a crucial instrument in international trade finance, particularly under Swiss law, which is renowned for its robust banking regulations and financial security. This document type is typically used when parties seek a secure payment method in cross-border transactions, especially where there are concerns about country risk, commercial risk, or when local regulations require such instruments. The document combines elements of Swiss federal banking laws, the Federal Code of Obligations, and international banking practices (UCP 600), making it a highly reliable and globally recognized instrument. A Bank Guarantee Letter of Credit is particularly valuable in situations where the parties don't have an established trading relationship or when the transaction value is significant, providing assurance to the seller of payment and to the buyer of receiving compliant goods or services.
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1. Issuing Bank Details: Full name and address of the issuing bank
2. LC Number and Date: Unique reference number and date of issuance
3. Beneficiary Details: Full name and address of the beneficiary
4. Applicant Details: Full name and address of the applicant (buyer)
5. Credit Amount: Currency and amount of the letter of credit
6. Expiry Date and Place: Validity period and location where documents must be presented
7. Available With/By: Terms of availability and method of payment
8. Partial Shipments/Transhipment: Whether partial shipments or transhipment are allowed or prohibited
9. Loading/Dispatch/Taking in Charge: Place of taking in charge, dispatch, or loading
10. Port of Discharge/Final Destination: Final destination or port of discharge
11. Latest Date of Shipment: Final date by which shipment must be made
12. Document Requirements: List of required documents for presentation
13. Additional Conditions: Any special conditions or terms
14. Charges: Details of banking charges and who bears them
15. Period for Presentation: Time period within which documents must be presented after shipment
16. Confirmation Instructions: Whether the LC is confirmed or not
1. Transferability Clause: Used when the LC needs to be transferable to another beneficiary
2. Back-to-Back Provisions: Included when the LC supports a back-to-back credit arrangement
3. Red Clause: Used when advance payment to the beneficiary is permitted
4. Green Clause: Included when storage of goods is involved with advance payment
5. Revolving Credit Terms: Added when the LC is revolving in value or time
6. Tolerance Provisions: Specifies acceptable variations in amount or quantity
7. Assignment of Proceeds: Included when proceeds can be assigned to a third party
8. Reimbursement Instructions: Used when specific reimbursement arrangements are required
1. Document Requirements Schedule: Detailed list of required documents and their specifications
2. Commercial Invoice Requirements: Specific requirements for commercial invoice presentation
3. Transport Document Requirements: Detailed requirements for transport documents
4. Insurance Document Requirements: Specifications for insurance documentation
5. Special Conditions Appendix: Any detailed special conditions or requirements
6. Price Calculation Schedule: If applicable, details of price calculation methodology
7. Shipping Schedule: If applicable, detailed shipping requirements and timeline
8. Testing/Inspection Requirements: If applicable, details of required testing or inspection procedures
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