The Transferable Letter of Credit is a sophisticated banking instrument used in complex international trade transactions where intermediaries or middlemen are involved. This document type is particularly relevant when the first beneficiary acts as a middleman and needs to transfer the credit to the actual supplier of goods. Under Dutch law and international banking practices (UCP 600), it provides a secure and standardized method for such transfers while maintaining the security and payment assurance inherent in Letter of Credit transactions. The document is essential in situations where the original beneficiary is not the actual supplier of goods but rather a trader or intermediary, allowing them to transfer their rights to receive payment to the actual supplier, subject to specific terms and conditions.
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1. Issuing Bank Details: Complete name, address, and reference numbers of the issuing bank
2. Date and Place of Issue: The date and location where the Letter of Credit is issued
3. Letter of Credit Number: Unique identification number of the Letter of Credit
4. Applicant Details: Full name and address of the party requesting the Letter of Credit
5. Beneficiary Details: Full name and address of the original beneficiary
6. Currency and Amount: The currency and maximum amount available under the Letter of Credit
7. Transferability Clause: Explicit statement that the credit is transferable and conditions for transfer
8. Expiry Date and Place: The date and location where the credit expires
9. Documentary Requirements: Detailed list of required documents for presentation
10. Shipment Terms: Details of shipment including latest shipment date and partial shipments
11. Payment Terms: Specifications of when and how payment will be made
12. Transfer Conditions: Specific conditions and procedures for transferring the credit
13. Governing Law Statement: Clear statement that Dutch law governs the Letter of Credit
1. Second Beneficiary Terms: Used when the second beneficiary is already known at the time of issuance
2. Special Instructions: Include when there are specific handling requirements or unusual conditions
3. Back-to-Back Arrangements: Required when the credit is part of a back-to-back Letter of Credit structure
4. Confirmation Instructions: Include when confirmation by another bank is requested or authorized
5. Revolving Terms: Used when the Letter of Credit has a revolving nature
6. Green Clause: Include when advance payment provisions are required
7. Red Clause: Used when pre-shipment finance is permitted
1. Document Presentation Schedule: Detailed checklist of required documents and presentation format
2. Transfer Application Form: Standard form for requesting transfer of the credit
3. Fee Schedule: Breakdown of all applicable fees and charges
4. Bank Contact Details: List of relevant contact persons and departments for various aspects of the credit
5. UCP 600 Reference Guide: Quick reference to relevant UCP 600 articles applicable to this credit
6. Document Examination Criteria: Specific criteria for document examination under this credit
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
International Trade
Import/Export
Manufacturing
Wholesale Trade
Commodities Trading
Shipping and Logistics
Agriculture
Textiles
Electronics
Raw Materials
Energy
Consumer Goods
Relevant Teams
Trade Finance
International Banking
Documentary Credits
Global Transaction Banking
Trade Operations
Banking Operations
Credit Risk
Legal and Compliance
Treasury
Client Relations
Trade Solutions
Export Finance
Import Finance
Relevant Roles
Trade Finance Manager
Documentary Credits Specialist
International Banking Officer
Letter of Credit Manager
Trade Operations Manager
Global Transaction Banking Officer
Export Finance Manager
Import Finance Manager
Trade Finance Compliance Officer
Banking Operations Manager
International Trade Specialist
Treasury Manager
Credit Risk Manager
Trade Solutions Advisor
Banking Relationship Manager
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