The Beneficiary In Letter of Credit is a crucial document in international trade finance under Singapore law. It is used when a seller (beneficiary) needs to formally acknowledge and confirm their position in a Letter of Credit transaction. The document ensures compliance with Singapore's regulatory requirements and international banking practices (UCP 600), while protecting the interests of all parties involved. It typically includes detailed information about payment terms, document requirements, and presentation conditions.
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1. Letter of Credit Reference: Specific LC number, issuing bank details, and date of issuance
2. Beneficiary Details: Complete legal name, registration number, and registered address of the beneficiary
3. Transaction Details: Reference to the underlying commercial transaction, including contract numbers and dates
4. Amount and Currency: Specification of the Letter of Credit value and currency denomination
5. Document Requirements: Comprehensive list of required documents for LC presentation, including specific format requirements
1. Partial Shipment Terms: Terms and conditions applicable when partial shipments are permitted under the LC
2. Transfer Rights: Provisions regarding the transferability of the LC and associated procedures
3. Special Conditions: Any specific requirements, conditions, or variations from standard LC terms
1. Commercial Invoice Template: Standardized format for presentation of commercial invoices under the LC
2. Transport Document Requirements: Detailed specifications for shipping documents including bills of lading or airway bills
3. Bank Details Form: Template containing beneficiary's banking information for LC payment processing
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