The Mixed Payment Lc is a sophisticated trade finance instrument commonly used in the United Arab Emirates for facilitating international trade transactions that require flexible payment terms. This document type becomes relevant when trading parties need a combination of immediate liquidity and extended payment terms, typically in larger commercial transactions. The Mixed Payment Lc, governed by UAE law and international banking practices, provides for part of the payment to be made at sight (immediate payment upon document presentation) and the remainder on a deferred basis. It incorporates specific provisions required by UAE banking regulations while maintaining compliance with international standards such as UCP 600. This instrument is particularly valuable in the UAE's dynamic trading environment, where it helps balance cash flow requirements for both importers and exporters while providing the security of a bank-guaranteed payment mechanism.
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1. Parties: Identification of the applicant, beneficiary, issuing bank, and any advising or confirming banks
2. Background: Context of the underlying commercial transaction and reason for the LC issuance
3. Definitions: Key terms used in the LC including banking terms, document requirements, and payment conditions
4. LC Amount and Currency: Total value of the LC and currency denomination
5. Mixed Payment Structure: Breakdown of sight payment percentage and deferred payment terms with specific dates or conditions
6. Document Requirements: Detailed list of required documents for LC presentation
7. Presentation Terms: Timeframes and conditions for document presentation
8. Payment Terms: Specific conditions and timing for both sight and deferred payments
9. Bank Charges: Allocation of banking fees and charges
10. Governing Law and Jurisdiction: Specification of UAE law application and jurisdiction
11. Notices: Communication protocols and contact details for all parties
1. Shariah Compliance: Required if the LC needs to comply with Islamic banking principles
2. Confirming Bank Terms: Include when a confirming bank is involved in the transaction
3. Transfer Rights: Include if the LC is transferable
4. Back-to-Back LC Provisions: Required if back-to-back LC arrangements are permitted
5. Electronic Presentation: Include if electronic presentation of documents is permitted
6. Force Majeure: Optional provisions for unforeseen circumstances affecting LC execution
7. Insurance Requirements: Include if specific insurance arrangements are required
1. Document Checklist: Detailed checklist of required documents and their specifications
2. Payment Schedule: Detailed breakdown of payment dates and amounts for the deferred portion
3. Bank Details: Complete banking information for all parties involved
4. Specimen Signatures: Authorized signatures for all relevant parties
5. Commercial Invoice Requirements: Specific requirements for commercial invoice presentation
6. Transport Document Requirements: Detailed specifications for transport documents
7. Form of Demand: Template for payment demand under the LC
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