The Operative Letter of Credit serves as a crucial financial instrument in international trade transactions under Swiss jurisdiction. It is commonly used when parties seek a secure payment method with bank-backed guarantees, particularly in cross-border transactions where the parties may not have established business relationships. The document follows strict Swiss banking regulations while incorporating UCP 600 guidelines, making it particularly attractive given Switzerland's reputation for banking excellence and regulatory stability. An Operative Letter of Credit includes detailed specifications about payment conditions, required documentation, shipment terms, and compliance requirements, providing security to both exporters and importers by ensuring payment against compliant document presentation.
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1. Issuing Bank Details: Full name, address, and reference numbers of the issuing bank
2. Letter of Credit Number: Unique identification number of the L/C
3. Date of Issue: Date when the Letter of Credit is issued
4. Beneficiary Details: Complete name and address of the party receiving the L/C
5. Applicant Details: Complete name and address of the party requesting the L/C
6. Currency and Amount: Specified currency and maximum amount available under the L/C
7. Expiry Date: Date and place of expiry for document presentation
8. Payment Terms: Specification of when and how payment will be made (at sight, deferred, etc.)
9. Required Documents: Detailed list of documents required for presentation
10. Shipment Terms: Details of shipment including latest shipment date and partial shipments status
11. Goods Description: Brief but precise description of the goods or services covered
1. Transferability Clause: Section to be included if the L/C is transferable to another beneficiary
2. Revolving Terms: Include when the L/C is revolving, specifying reinstatement conditions
3. Red Clause: Include when advance payment is allowed before document presentation
4. Green Clause: Include when storage of goods is involved with advance payment
5. Back-to-Back Provisions: Include when the L/C supports a back-to-back arrangement
6. Special Conditions: Any additional terms specific to the transaction
7. Confirmation Instructions: Include when confirmation by another bank is requested
1. Document Presentation Form: Standard form for presenting documents under the L/C
2. Commercial Invoice Template: Specified format for commercial invoice presentation
3. Transport Document Requirements: Detailed requirements for transport documents
4. Insurance Document Requirements: Specific requirements for insurance documents
5. Bank Contact Details: List of relevant banking contacts and communication channels
6. Fee Schedule: Breakdown of applicable banking fees and charges
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
International Trade
Import/Export
Manufacturing
Commodities Trading
Retail
Wholesale
Logistics and Transportation
Agriculture
Energy
Mining
Textile Industry
Pharmaceutical Industry
Relevant Teams
Trade Finance
International Banking
Documentary Credits
Export Operations
Import Operations
Treasury
Compliance
Risk Management
Legal
Operations
Financial Control
Banking Operations
Relevant Roles
Trade Finance Manager
International Trade Specialist
Documentary Credits Officer
Export Finance Manager
Import Operations Manager
Letter of Credit Specialist
Banking Operations Manager
Compliance Officer
Treasury Manager
Chief Financial Officer
Trade Operations Director
Banking Relationship Manager
Credit Risk Manager
International Business Development Manager
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