The Negotiable Letter of Credit is a crucial financial instrument used in international trade transactions where parties seek both payment security and financial flexibility. This document is particularly relevant when sellers require a bank-backed payment guarantee but also want the ability to negotiate the instrument before maturity. Under Swiss law, which is renowned for its robust banking regulations and financial stability, this document provides enhanced security and reliability. It contains detailed specifications about payment terms, document requirements, and negotiation conditions, while complying with both Swiss banking regulations and international standards like UCP 600. The document is typically used in large international trade transactions, especially when dealing with new trading partners or in countries with different legal systems, where the reputation and stability of Swiss banking law can provide additional comfort to all parties involved.
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1. Issuing Bank Details: Complete name, address, and reference numbers of the issuing bank
2. Letter of Credit Number: Unique identification number of the Letter of Credit
3. Date of Issue: Date when the Letter of Credit is issued
4. Beneficiary Details: Complete name and address of the party in whose favor the Letter of Credit is issued
5. Applicant Details: Complete name and address of the party requesting the Letter of Credit
6. Currency and Amount: Specification of the currency and the exact amount of the Letter of Credit
7. Expiry Date and Place: Clear statement of when and where the Letter of Credit expires
8. Available With/By: Specification of where and how the Letter of Credit is available (negotiation, acceptance, etc.)
9. Partial Shipments/Transhipment: Whether partial shipments or transhipment are allowed or prohibited
10. Required Documents: Detailed list of all documents required for negotiation
11. Additional Conditions: Any specific conditions or terms that must be met
12. Charges: Specification of which party bears which banking charges
13. Period for Presentation: Time period within which documents must be presented after shipment
1. Revolving Terms: Include when the Letter of Credit is revolving, specifying the revolving terms and conditions
2. Red Clause: Include when advance payment provisions are required, specifying terms of advance payment
3. Green Clause: Include when warehouse storage provisions are needed
4. Transferability Terms: Include when the Letter of Credit is transferable, specifying transfer conditions
5. Back-to-Back Provisions: Include when the Letter of Credit is part of a back-to-back arrangement
6. Confirmation Instructions: Include when confirmation by another bank is required or authorized
7. Deferred Payment Terms: Include when payment is to be made at a future date after document presentation
1. Document Presentation Schedule: Detailed checklist of required documents and presentation requirements
2. Fee Schedule: Detailed breakdown of all applicable fees and charges
3. Shipping Schedule: If applicable, timeline and details of shipment requirements
4. Amendment Form: Standard form for requesting amendments to the Letter of Credit
5. Document Examination Criteria: Specific criteria for document examination under UCP 600
6. Bank Contact Details: Complete contact information for all relevant banking departments
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
International Trade
Import/Export
Manufacturing
Commodities Trading
Shipping and Logistics
Agriculture
Mining and Resources
Wholesale Trade
Retail Trade
Energy
Relevant Teams
Trade Finance
International Banking
Documentary Credits
Global Transaction Banking
Corporate Banking
Treasury
Finance
Legal
Compliance
Risk Management
Operations
Commercial Banking
Relevant Roles
Trade Finance Manager
International Banking Officer
Letter of Credit Specialist
Export Finance Manager
Import Finance Manager
Trade Operations Manager
Documentary Credits Manager
Global Transaction Banking Officer
Relationship Manager - Corporate Banking
Treasury Manager
Chief Financial Officer
Finance Director
Commercial Banking Manager
Trade Compliance Officer
International Trade Specialist
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