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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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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
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
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
International Trade
Manufacturing
Import/Export
Wholesale Trade
Commodities Trading
Textile Industry
Agriculture
Mining
Oil and Gas
Consumer Goods
Industrial Equipment
Electronics Manufacturing
Automotive Industry
Legal
Finance
Treasury
International Trade Operations
Risk Management
Compliance
Trade Finance
Credit Administration
Commercial Operations
Banking Relations
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
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