The 180 Days Usance Letter of Credit is a crucial trade finance instrument used in international commerce under Australian jurisdiction. This document type is particularly valuable when buyers require extended payment terms while ensuring sellers receive payment security through bank guarantees. The usance period of 180 days provides importers with substantial time to generate funds from the sale of goods before making payment. The document incorporates specific requirements under Australian banking regulations, UCP 600 guidelines, and international trade practices. It includes comprehensive details about the transaction, including parties involved, payment terms, document requirements, and shipping conditions. This instrument is commonly used in large-scale international trade transactions, especially in sectors with longer cash conversion cycles or high-value goods requiring extended financing terms.
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1. Letter of Credit Number and Date: Unique LC identification number and issuance date
2. Applicant Details: Full name, address, and contact information of the party requesting the LC
3. Beneficiary Details: Full name, address, and contact information of the party in whose favor the LC is issued
4. Issuing Bank Details: Name and details of the bank issuing the LC
5. Advising Bank Details: Name and details of the bank advising the LC to the beneficiary
6. Credit Amount and Currency: Specified amount and currency of the LC
7. Payment Terms: 180 days usance payment terms and calculation method
8. Required Documents: List of documents required for presentation under the LC
9. Shipment Terms: Details of shipment including latest shipment date and partial shipments
10. Expiry Date and Place: Validity period and location for document presentation
11. Description of Goods: Detailed description of the goods being traded
12. Presentation Period: Timeframe within which documents must be presented after shipment
1. Transferability Clause: Include when the LC needs to be transferable to another beneficiary
2. Confirmation Instructions: Include when confirmation by another bank is required
3. Red Clause: Include when advance payment to the beneficiary is permitted
4. Special Conditions: Include when there are additional terms specific to the transaction
5. Revolving Terms: Include when the LC is revolving in value or time
6. Back-to-Back Provisions: Include when the LC is part of a back-to-back arrangement
7. Insurance Requirements: Include when specific insurance coverage needs to be specified
1. Schedule A - Document Requirements: Detailed list and format of required documents including specific requirements for each
2. Schedule B - Goods Specification: Detailed technical specifications of the goods being traded
3. Schedule C - Payment Calculation: Details of how the 180 days usance period is calculated and payment terms
4. Schedule D - Bank Charges: Breakdown of all applicable bank charges and their allocation
5. Appendix 1 - Standard Banking Forms: Ƶ of standard banking forms to be used
6. Appendix 2 - UCP 600 Reference: Relevant articles of UCP 600 applicable to this LC
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
International Trade
Manufacturing
Import/Export
Commodities Trading
Retail
Agriculture
Mining
Textile Industry
Electronics and Technology
Automotive
Construction Materials
Relevant Teams
Trade Finance
International Banking
Credit Administration
Risk Management
Treasury
Legal
Compliance
Operations
Supply Chain
Finance
International Sales
Documentary Credits
Trade Operations
Relevant Roles
Trade Finance Manager
International Business Manager
Credit Manager
Import/Export Coordinator
Documentary Credits Specialist
Treasury Manager
Chief Financial Officer
Banking Relationship Manager
Compliance Officer
Risk Manager
Supply Chain Manager
Financial Controller
Trade Operations Officer
Letter of Credit Specialist
International Sales Manager
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