The LC At Sight 90 Days is a specialized trade finance instrument used in international commerce when parties seek to combine the security of a letter of credit with extended payment terms. It is particularly useful in situations where the seller requires a bank-backed payment guarantee but is willing to extend 90-day credit terms to the buyer. Under Dutch jurisdiction, this document must comply with both local financial regulations and international banking standards (UCP 600). The document includes detailed specifications for required documentation, payment terms, shipment conditions, and bank obligations. It is commonly used in large-scale international trade transactions where the value or nature of goods necessitates formal bank involvement, while also accommodating the cash flow requirements of the trading parties through its 90-day payment structure.
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1. LC Number and Date of Issue: Unique identification number and issuance date of the Letter of Credit
2. Applicant Details: Full name, address, and contact information of the buyer/importer requesting the LC
3. Beneficiary Details: Full name, address, and contact information of the seller/exporter receiving the LC
4. Issuing Bank Details: Name, address, and SWIFT code of the bank issuing the LC
5. Amount and Currency: Maximum credit amount and currency specification
6. Expiry Date and Place: Validity period of the LC and location where documents must be presented
7. Payment Terms: Specification of 90-day sight payment terms and any associated conditions
8. Required Documents: List of all documents required for LC presentation
9. Shipment Terms: Details of shipment including latest shipment date, partial shipments, transhipment permissions
10. Description of Goods: Detailed description of goods being traded including quantity and unit price
1. Advising Bank Details: Include when a second bank is involved in advising the LC to the beneficiary
2. Confirming Bank Details: Include when additional bank confirmation is required
3. Transfer Conditions: Include if the LC is transferable to second beneficiaries
4. Special Instructions: Include when there are additional requirements or conditions
5. Reimbursement Instructions: Include when specific reimbursement arrangements between banks are required
6. Green Clause: Include when advance payment to beneficiary is permitted
7. Insurance Requirements: Include when specific insurance requirements exceed standard coverage
1. Commercial Invoice Template: Standard format for commercial invoice presentation
2. Transport Document Requirements: Detailed specifications for bills of lading or other transport documents
3. Insurance Document Requirements: Specifications for insurance documentation if required
4. Certificate of Origin Requirements: Format and requirements for origin certification
5. Inspection Certificate Requirements: Standards for third-party inspection documentation if required
6. Bank Draft Template: Format for drafts to be drawn under the LC
7. Amendment Form Template: Standard format for requesting LC amendments
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
International Trade
Manufacturing
Retail
Agriculture
Mining and Resources
Energy
Pharmaceuticals
Automotive
Electronics
Textiles
Chemical Industry
Construction Materials
Food and Beverage
Relevant Teams
Trade Finance
International Banking
Treasury
Compliance
Risk Management
Legal
Supply Chain
Procurement
Finance
Credit Control
Trade Operations
Documentary Credits
Relevant Roles
Trade Finance Manager
International Trade Specialist
Documentary Credits Officer
Treasury Manager
Chief Financial Officer
Import Manager
Export Manager
Compliance Officer
Risk Manager
Banking Relationship Manager
Supply Chain Manager
Procurement Director
Finance Director
Credit Controller
Trade Operations Manager
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