The Import Letter of Credit is a fundamental trade finance instrument used in international commerce when an importer needs to provide payment security to an overseas exporter. This document, governed by Swiss law, combines the stringent requirements of Swiss banking regulations with international trade practices, particularly the UCP 600 guidelines. The Import Letter of Credit serves as a bank's irrevocable commitment to pay the exporter upon presentation of compliant documents, effectively mitigating the risks associated with international trade for both parties. It is particularly crucial in situations where parties are in different jurisdictions or have no established trading relationship. The document includes detailed specifications about payment terms, shipping requirements, document presentation deadlines, and compliance conditions, all structured within the framework of Swiss commercial and banking laws.
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1. Letter Reference and Date: Unique reference number and issuance date of the Letter of Credit
2. Applicant Details: Full name, address, and contact information of the import company requesting the Letter of Credit
3. Beneficiary Details: Full name, address, and contact information of the export company receiving the Letter of Credit
4. Issuing Bank Details: Name and details of the bank issuing the Letter of Credit
5. Credit Amount and Currency: The maximum amount and currency of the Letter of Credit
6. Credit Type and Form: Specification of whether the credit is irrevocable, transferable, or standby
7. Expiry Date and Place: The final date and location where documents must be presented
8. Available With/By: Details of how and where the credit is available (payment, acceptance, negotiation)
9. Partial Shipments/Transhipment: Whether partial shipments or transhipment is allowed or prohibited
10. Loading/Dispatch From/To: Ports or places of loading and final destination
11. Latest Date of Shipment: Final date by which goods must be shipped
12. Required Documents: List of all documents required for presentation
13. Additional Conditions: Any special conditions or terms specific to this credit
14. Charges: Distribution of banking charges between parties
1. Advising Bank: Details of the advising bank, if different from the issuing bank. Include when using an intermediary bank
2. Confirmation Instructions: Instructions regarding confirmation of the credit by another bank. Used when confirmation is requested
3. Transferability Conditions: Specific conditions for transfer of the credit. Include when the credit is transferable
4. Deferred Payment Terms: Payment terms if credit involves deferred payment. Include for usance credits
5. Insurance Instructions: Specific insurance requirements. Include when insurance is arranged by applicant
6. Pre-shipment Inspection: Requirements for pre-shipment inspection. Include when quality control is critical
7. Back-to-Back Provisions: Terms for back-to-back credits. Include in complex trade financing structures
1. Schedule A - Document Requirements: Detailed list of required documents with specific formatting and content requirements
2. Schedule B - Goods Description: Detailed description of goods, including specifications, quantities, and unit prices
3. Schedule C - Special Payment Conditions: Detailed payment terms, including any installment structures or special conditions
4. Appendix 1 - Bank Forms: Standard forms required by the issuing bank for document presentation
5. Appendix 2 - Shipping Terms: Detailed shipping requirements and INCOTERMS specifications
6. Appendix 3 - Documentary Requirements Checklist: Checklist for beneficiary to ensure complete document presentation
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