The Letter of Credit 30 Days is a fundamental trade finance instrument used in international commercial transactions where the issuing bank guarantees payment to a seller within a 30-day timeframe. This document is particularly relevant when parties seek a balanced approach between immediate payment and extended credit terms, providing security to the seller while offering the buyer a short payment buffer. Governed by Danish law and incorporating international banking practices, it includes detailed specifications of the parties involved, payment terms, required documentation, and shipping conditions. The LC is commonly used in cross-border trades where parties require a secure, bank-mediated payment method that combines the reliability of bank guarantees with short-term credit flexibility. It serves as a critical tool in international trade, helping businesses manage cash flow while maintaining trust between trading partners.
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Key Requirements PROMPT example:
Letter Of Credit 30 Days
I need a Letter of Credit 30 Days for exporting manufacturing equipment worth 鈧500,000 from Copenhagen to Mumbai, with specific requirements for partial shipments and detailed inspection certificates to be issued by March 2025.
1. Issuing Bank Details: Complete details of the bank issuing the Letter of Credit
2. Beneficiary Information: Full details of the party receiving the Letter of Credit (seller/exporter)
3. Applicant Information: Complete details of the party requesting the Letter of Credit (buyer/importer)
4. Letter of Credit Number: Unique identification number for the LC
5. Credit Amount: Specific amount and currency of the Letter of Credit
6. Type and Form of Credit: Specification that this is a 30-day Letter of Credit and whether it's irrevocable
7. Expiry Date: Clear statement of the LC's expiry date (30 days from issuance)
8. Payment Terms: Specific conditions for payment, including the 30-day payment period
9. Required Documents: List of documents required for payment claim
10. Shipment Terms: Details of shipment including latest shipment date and partial shipments status
11. Presentation Period: Timeframe for document presentation after shipment
12. Governing Law: Statement that Danish law governs the Letter of Credit
1. Transferability Clause: Include when the LC needs to be transferable to another beneficiary
2. Red Clause: Include when advance payment to the beneficiary is required
3. Back-to-Back LC Provisions: Include when the LC may be used as collateral for another LC
4. Force Majeure Provisions: Include when specific force majeure protections are needed
5. Amendment Conditions: Include when specific amendment procedures are required
6. Confirmation Instructions: Include when bank confirmation is requested or required
1. Schedule A - Goods/Services Specification: Detailed description of goods or services covered by the LC
2. Schedule B - Documentary Requirements: Comprehensive list of required documents and their specific requirements
3. Schedule C - Special Payment Conditions: Any special terms or conditions relating to the payment process
4. Appendix 1 - Standard Banking Forms: Standard forms required by the issuing bank for LC operations
5. Appendix 2 - UCP 600 References: Relevant articles from UCP 600 applicable to this LC
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
International Trade
Manufacturing
Import/Export
Retail
Wholesale
Logistics and Transportation
Commodities Trading
Agricultural Trade
Industrial Equipment
Consumer Goods
Maritime and Shipping
Relevant Teams
Trade Finance
International Sales
Treasury
Global Operations
Risk Management
Procurement
Finance
Legal
Compliance
Supply Chain
Commercial Banking
Documentary Credits
International Business Development
Relevant Roles
Trade Finance Manager
International Sales Director
Import/Export Manager
Treasury Manager
Finance Director
Commercial Banking Officer
Documentary Credits Specialist
Global Trade Operations Manager
Risk Management Officer
Supply Chain Manager
Procurement Manager
Chief Financial Officer
International Business Development Manager
Banking Relationship Manager
Compliance Officer
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