Ƶ

Payment Terms Dlc for Canada

Payment Terms Dlc Template for Canada

This document outlines the terms and conditions for a Documentary Letter of Credit (DLC) payment arrangement under Canadian law, incorporating relevant provisions of the Canadian Bills of Exchange Act and international banking practices. It details the specific requirements, obligations, and procedures for all parties involved in the documentary credit transaction, including document presentation requirements, payment conditions, bank responsibilities, and compliance with Canadian banking regulations. The document ensures alignment with both Canadian federal banking laws and international trade practices, particularly UCP 600 guidelines.

Your data doesn't train Genie's AI

You keep IP ownership of your information

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Download a Standard Template

4.6 / 5
4.8 / 5
Access for free
OR

Alternatively: Run an advanced review of an existing
Payment Terms Dlc

Let Ƶ's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.

What is a Payment Terms Dlc?

The Payment Terms DLC document serves as a crucial instrument in international trade transactions under Canadian jurisdiction, providing a secure payment mechanism through documentary credits. This document type is essential when parties seek to establish clear, legally-binding terms for letter of credit payments while ensuring compliance with Canadian banking regulations and international trade practices. The Payment Terms DLC incorporates key elements such as document requirements, presentation conditions, and bank obligations, making it particularly valuable for cross-border transactions where parties seek payment security and clear procedural guidelines. It aligns with Canadian federal banking laws, provincial commercial regulations, and international banking standards including UCP 600, making it suitable for both domestic and international trade relationships involving Canadian entities.

What sections should be included in a Payment Terms Dlc?

1. Parties: Identification of all parties involved: Applicant (Buyer), Beneficiary (Seller), Issuing Bank, and any Advising/Confirming Banks

2. Background: Context of the underlying transaction and purpose of the DLC arrangement

3. Definitions: Key terms used throughout the document, including banking, shipping, and trade terms

4. Letter of Credit Details: Fundamental information including LC number, type, amount, currency, and expiry date

5. Payment Terms: Specific conditions for payment, including required documents, presentation periods, and payment timing

6. Document Requirements: Detailed list of required documents for LC presentation (e.g., commercial invoice, transport documents, certificates)

7. Bank Obligations: Responsibilities and obligations of the issuing and any confirming/advising banks

8. Presentation Terms: Rules and procedures for document presentation, including timing and location

9. Discrepancy Handling: Procedures for handling documentary discrepancies and resolution process

10. Governing Law and Jurisdiction: Applicable law and jurisdiction for dispute resolution

What sections are optional to include in a Payment Terms Dlc?

1. Transfer Rights: Include when the LC needs to be transferable to third parties

2. Back-to-Back Arrangements: Include when there's a back-to-back LC structure involved

3. Revolving Terms: Include for revolving LCs with multiple drawing periods

4. Red Clause Provisions: Include when advance payment provisions are required

5. Assignment of Proceeds: Include when beneficiary needs right to assign proceeds

6. Force Majeure: Include when specific force majeure provisions are needed beyond standard UCP terms

7. Amendment Procedures: Include when specific amendment procedures need to be detailed

8. Insurance Requirements: Include when specific insurance arrangements need to be detailed beyond standard requirements

What schedules should be included in a Payment Terms Dlc?

1. Schedule A - Document Checklist: Detailed checklist of all required documents with specific requirements for each

2. Schedule B - Fee Schedule: Breakdown of all applicable banking fees and charges

3. Schedule C - Standard Forms: Ƶ for commonly used forms in the LC process

4. Schedule D - Bank Details: Complete banking information for all parties involved

5. Appendix 1 - UCP 600 Incorporation: Specific UCP 600 articles being incorporated or modified

6. Appendix 2 - Special Instructions: Any special handling or processing instructions

7. Appendix 3 - Amendment Template: Standard template for LC amendments

Authors

Alex Denne

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

Jurisdiction

Canada

Publisher

Ƶ

Document Type

Letter of Credit

Cost

Free to use
Relevant legal definitions










































Clauses
































Relevant Industries

International Trade

Banking and Financial Services

Manufacturing

Import/Export

Commodities Trading

Retail

Agriculture

Energy

Mining

Construction

Automotive

Pharmaceuticals

Relevant Teams

Trade Finance

International Banking

Global Transaction Services

Commercial Banking

Legal and Compliance

Treasury

Risk Management

Operations

Supply Chain Finance

Documentary Credits

Transaction Banking

Credit Administration

Relevant Roles

Trade Finance Manager

International Trade Specialist

Documentary Credit Officer

Trade Operations Manager

Compliance Officer

Banking Relationship Manager

Treasury Manager

Import/Export Manager

Trade Finance Analyst

Credit Risk Manager

Commercial Banking Officer

Global Transaction Manager

Supply Chain Finance Manager

Senior Trade Finance 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,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Import Bill Under Lc

A Canadian-law governed agreement establishing terms and conditions for import transactions using Letters of Credit, defining rights and obligations of all parties involved in international trade transactions.

find out more

Standby Letter Of Credit Cost

A Canadian-compliant document detailing the complete fee structure and costs associated with issuing and maintaining a standby letter of credit.

find out more

Letter Of Credit Project (Finance)

A Canadian-law governed Letter of Credit facility agreement for project finance transactions, establishing terms, conditions, and security arrangements under federal and provincial regulations.

find out more

Lc Sight And Usance

A Canadian-law governed Letter of Credit document combining immediate (sight) and deferred (usance) payment options for international trade transactions.

find out more

Letter Of Credit Limit

A Canadian law-governed agreement establishing a bank facility for issuing letters of credit up to a specified limit, outlining terms, conditions, and compliance requirements.

find out more

Lc Invoice

A Canadian-compliant commercial invoice specifically formatted to support Letter of Credit requirements in international trade transactions, adhering to federal banking and trade regulations.

find out more

Irrevocable Unconfirmed Letter Of Credit

A Canadian-governed banking instrument providing irrevocable payment commitment in international trade, subject to document compliance and UCP 600 rules.

find out more

Lc Payment Terms In Export

Canadian-law governed Letter of Credit payment terms document specifying conditions and requirements for export transactions.

find out more

SBLC Dlc

A Canadian-law governed banking instrument providing payment security in international trade transactions, following both domestic and international banking standards.

find out more

Irrevocable Letter Of Credit Cost

A Canadian banking document detailing the costs and fees associated with an irrevocable letter of credit, governed by Canadian banking laws and UCP 600.

find out more

Cash Backed SBLC

Canadian law-governed agreement for a cash-backed Standby Letter of Credit, establishing terms, conditions, and obligations for all parties involved.

find out more

SBLC Transferable

A Canadian law-governed Transferable Standby Letter of Credit document that establishes terms for a transferable bank guarantee, incorporating federal banking and provincial securities regulations.

find out more

Export Lc Discounting

A Canadian law-governed agreement for discounting export letters of credit, enabling exporters to obtain immediate financing against their LC receivables.

find out more

SBLC Non Recourse Loan

Canadian law-governed non-recourse loan agreement secured by SBLC, establishing terms for limited-recourse financing with specific collateral provisions.

find out more

SBLC Trade Program

Canadian-law governed agreement establishing terms and conditions for a Standby Letter of Credit (SBLC) Trade Program, including issuance, maintenance, and drawing conditions.

find out more

Loan Against Lc

A Canadian-law governed agreement establishing a loan facility secured by a Letter of Credit, incorporating federal and provincial banking regulations.

find out more

Application For Letter Of Credit

A Canadian-compliant formal application document used to request a bank to issue a letter of credit for international trade transactions.

find out more

SBLC Buyers

A Canadian-law governed agreement establishing terms for SBLC issuance between a buyer and issuing bank, incorporating federal banking and provincial contract law requirements.

find out more

Transferring Bank In Lc

A Canadian-law governed agreement for transferring rights under a Letter of Credit from the first beneficiary to a second beneficiary, executed by a transferring bank.

find out more

Revolving SBLC

A Canadian-law governed Revolving Standby Letter of Credit providing a renewable guarantee facility, structured under federal banking regulations and international banking practices.

find out more

Payment Terms Dlc

Canadian-law governed payment terms document for Documentary Letter of Credit arrangements, detailing requirements and obligations for international trade transactions.

find out more

Non Transferable SBLC

A Canadian law-governed Non-Transferable Standby Letter of Credit providing payment guarantee from a bank to a beneficiary, with explicit prohibition on transfer or assignment.

find out more

Negotiation Bank In Lc

A Canadian-law governed Negotiation Bank Letter of Credit document establishing terms for secure international trade payment through bank negotiation.

find out more

Freely Negotiable Letter Of Credit

A Canadian-law governed, bank-issued payment guarantee document that provides security in trade transactions while allowing negotiation and transfer of payment rights.

find out more

Time Letter Of Credit

A Canadian-law governed bank-issued document guaranteeing payment to a seller at a specified future date upon presentation of compliant documents.

find out more

Straight Letter Of Credit

A Canadian-law governed banking instrument providing secure payment in international trade through bank-guaranteed payment upon presentation of compliant documents.

find out more

Non Operative Letter Of Credit

A Canadian-compliant banking instrument that provides a guaranteed payment commitment from a bank to a beneficiary upon meeting specified documentary conditions.

find out more

Letter Of Credit 90 Days

A Canadian-compliant banking instrument providing payment assurance in trade transactions, valid for 90 days, governed by federal banking laws and UCP 600.

find out more

Letter Of Credit 60 Days

A Canadian-law governed Letter of Credit providing a 60-day payment deferral period, issued by a bank as a secure payment mechanism for international trade transactions.

find out more

Letter Of Credit 30 Days

A Canadian-law governed Letter of Credit providing 30-day deferred payment terms, where a bank guarantees payment to a seller upon document compliance.

find out more

Irrevocable Confirmed Lc At Sight

A Canadian-compliant financial instrument providing guaranteed payment at sight in international trade, backed by both issuing and confirming banks under federal banking laws and UCP 600 rules.

find out more

Domestic Letter Of Credit

A Canadian bank-issued payment guarantee instrument for domestic transactions, governed by Canadian banking laws and regulations, providing payment security between domestic buyers and sellers.

find out more

Digital Letter Of Credit

A Canadian-compliant digital banking instrument that guarantees payment in international trade transactions, subject to electronic document presentation under Canadian law.

find out more

Unsecured Letter Of Credit

A Canadian-governed bank instrument providing payment guarantee to a seller without requiring security from the buyer, governed by Canadian banking laws and UCP 600.

find out more

Unconditional Letter Of Credit

A Canadian-law governed bank undertaking providing unconditional payment assurance to a beneficiary upon presentation of complying documents.

find out more

Transit Letter Of Credit

A Canadian-compliant banking instrument that guarantees payment for goods in transit, combining domestic banking regulations with international trade practices.

find out more

Synthetic Letter Of Credit

A Canadian-law governed financial instrument combining traditional letter of credit features with synthetic structures to provide enhanced flexibility in trade finance transactions.

find out more

Syndicated Letter Of Credit

Canadian law-governed agreement establishing terms for a multi-bank letter of credit facility with shared risk and commitment structures.

find out more

Surety Backed Letter Of Credit

A Canadian-law governed financial instrument combining a letter of credit with surety protection, providing enhanced security for complex commercial transactions.

find out more

Structured Letter Of Credit

A Canadian-law governed banking instrument providing secured payment commitment with structured terms for complex commercial transactions, following UCP 600 rules and Canadian banking regulations.

find out more
See more related templates

ұԾ’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; ұԾ’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

We are ISO27001 certified, so your data is secure

Organizational security:

You retain IP ownership of your documents and their information

You have full control over your data and who gets to see it