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Letter Of Credit Loan Template for Indonesia

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Letter Of Credit Loan

"I need a Letter of Credit Loan agreement under Indonesian law for my textile manufacturing company, with a USD 5 million facility limit for importing raw materials from multiple Asian countries, including provisions for both sight and usance L/Cs with maximum tenor of 180 days."

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What is a Letter Of Credit Loan?

The Letter of Credit Loan agreement is essential for businesses engaged in international trade in Indonesia requiring trade financing support. This document is used when a company needs a credit facility specifically for issuing letters of credit, typically for import/export transactions. The agreement establishes the relationship between the bank and the borrower, setting out the terms under which the bank will issue L/Cs, including facility limits, security requirements, and operational procedures. It ensures compliance with Indonesian banking regulations while incorporating international banking standards such as UCP 600. The document is particularly crucial for companies managing international supply chains, as it provides them with a secure method of conducting international trade transactions while maintaining working capital efficiency.

What sections should be included in a Letter Of Credit Loan?

1. Parties: Identification of the lender (bank) and the borrower, including their complete legal names, registration numbers, and addresses

2. Background: Context of the L/C facility, including the borrower's business purpose for the L/C and the bank's agreement to provide the facility

3. Definitions: Definitions of key terms used throughout the agreement, including banking, L/C, and technical terms

4. Facility Terms: Details of the L/C facility including the maximum facility amount, tenure, and purpose

5. L/C Issuance Conditions: Conditions precedent and procedures for L/C issuance, including documentation requirements

6. Fees and Charges: All applicable fees, including issuance fees, amendment fees, and other charges

7. Payment Terms: Terms for repayment of the L/C loan, including payment schedule and currency provisions

8. Security Arrangements: Details of any required collateral, margins, or cash deposits

9. Representations and Warranties: Standard and specific representations and warranties from the borrower

10. Covenants: Positive and negative covenants applicable to the borrower

11. Events of Default: Circumstances constituting default and their consequences

12. Governing Law and Jurisdiction: Specification of Indonesian law as governing law and jurisdiction for disputes

What sections are optional to include in a Letter Of Credit Loan?

1. Currency Risk Provisions: Required when L/C is issued in foreign currency, detailing exchange rate mechanisms and risk allocation

2. Insurance Requirements: Needed when specific insurance coverage is required for the underlying trade transaction

3. Agent Bank Provisions: Required in syndicated L/C facilities involving multiple banks

4. Islamic Banking Provisions: Required when the L/C facility needs to comply with Shariah principles

5. Tax Provisions: Detailed tax clauses required for cross-border transactions or specific tax arrangements

6. Force Majeure: Extended force majeure provisions for specific industry or country risks

What schedules should be included in a Letter Of Credit Loan?

1. Facility Summary: Detailed breakdown of the L/C facility limits, sub-limits, and specific terms

2. Fee Schedule: Comprehensive list of all applicable fees and charges

3. Security Details: Detailed description of all security arrangements and collateral

4. Form of L/C Application: Standard form for requesting L/C issuance

5. Required Documents: List of required documents for L/C issuance and drawings

6. Conditions Precedent Checklist: List of all documents and conditions required before facility activation

7. Authorized Signatories: List of persons authorized to request L/Cs and execute related documents

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions












































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Relevant Industries

International Trade

Manufacturing

Import/Export

Wholesale Trade

Commodities Trading

Textile Industry

Agriculture

Mining

Oil and Gas

Consumer Goods

Industrial Equipment

Electronics Manufacturing

Automotive Industry

Relevant Teams

Legal

Finance

Treasury

International Trade Operations

Risk Management

Compliance

Trade Finance

Credit Administration

Commercial Operations

Banking Relations

Relevant Roles

Trade Finance Manager

Chief Financial Officer

Finance Director

Treasury Manager

Import/Export Manager

Trade Operations Manager

Legal Counsel

Compliance Officer

Risk Manager

Credit Manager

Commercial Director

Banking Relationship Manager

Documentary Credits Specialist

International Trade Specialist

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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