The Non-Operative Letter of Credit is a crucial financial instrument in international trade, governed by Swiss law and typically used when parties seek a secure payment method with formal banking intermediation. This document type is particularly relevant when dealing with cross-border transactions where parties require a reliable payment guarantee from a Swiss bank or a transaction involving Swiss entities. The letter outlines the conditions under which payment will be made, incorporating both local Swiss banking regulations and international standards (UCP 600). It specifies document requirements, payment terms, and validity periods, while providing security to both importers and exporters. The Swiss jurisdiction adds an additional layer of credibility due to the country's renowned banking sector and robust financial regulations. This instrument is commonly used in various international trade scenarios, from commodity trading to manufacturing goods transactions, where parties seek the security of a bank-backed payment guarantee.
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1. Letter Header: Bank's letterhead, date, reference number, and type of credit (Non-Operative)
2. Addressee Details: Beneficiary's complete name and address
3. Credit Number: Unique identification number of the Letter of Credit
4. Currency and Amount: Specification of the credit amount and currency
5. Applicant Information: Complete details of the party requesting the Letter of Credit
6. Expiry Details: Clear statement of expiry date and place
7. Available With/By: Specification of how and where the credit is available
8. Payment Terms: Detailed payment conditions and timing
9. Required Documents: List of documents required for presentation
10. Additional Conditions: Any special conditions or requirements
11. Bank Authorization: Authorized signatures and bank stamps
1. Partial Shipments/Transhipment: Include when the credit involves shipping of goods and whether partial shipments or transhipment is allowed
2. Insurance Requirements: Include when specific insurance coverage is required for the underlying transaction
3. Special Instructions: Include when there are specific handling or processing instructions
4. Transfer Conditions: Include when the credit is transferable
5. Back-to-Back Provisions: Include when the credit can be used as collateral for another credit
6. Confirmation Instructions: Include when confirmation by another bank is required or prohibited
1. Schedule A - Document Requirements: Detailed list and format of all required documents for presentation
2. Schedule B - Terms and Conditions: Complete terms and conditions of the credit
3. Schedule C - Fee Schedule: Breakdown of all applicable fees and charges
4. Appendix 1 - UCP 600 Incorporation: Specific UCP 600 articles applicable to this credit
5. Appendix 2 - Specimen Signatures: Authorized signatures for document verification
6. Appendix 3 - Amendment Form: Standard form for requesting amendments to the credit
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking & Financial Services
International Trade
Import/Export
Manufacturing
Commodities Trading
Retail
Wholesale
Logistics
Agriculture
Energy
Mining
Textiles
Construction
Relevant Teams
Trade Finance
International Banking
Documentary Credits
Treasury
Risk Management
Compliance
Legal
Operations
Finance
Procurement
Supply Chain
Credit Administration
Relevant Roles
Trade Finance Manager
International Banking Officer
Documentary Credits Specialist
Import/Export Manager
Treasury Manager
Trade Operations Officer
Compliance Officer
Credit Risk Manager
Banking Relationship Manager
Chief Financial Officer
Finance Director
International Trade Specialist
Supply Chain Manager
Procurement Manager
Legal Counsel
Banking Operations Manager
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