The Negotiation Bank In LC agreement is a crucial document in international trade finance, specifically designed for use when a Swiss bank agrees to provide Letter of Credit negotiation services. This document becomes necessary when beneficiaries or their banks seek to negotiate LCs with a Swiss banking institution, requiring clear terms for document examination, payment, and regulatory compliance. It incorporates Swiss banking laws, financial regulations, and international banking practices (particularly UCP 600), while addressing specific requirements of the Swiss financial market supervisory authority (FINMA). The agreement is particularly relevant in scenarios where rapid access to funds is required against compliant LC documents, providing clarity on the negotiation process, fees, and risk allocation between parties.
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1. Parties: Identification of the negotiating bank and the presenting bank/beneficiary
2. Background: Context of the LC negotiation arrangement and relationship between parties
3. Definitions: Key terms used in the agreement including banking, LC, and technical terminology
4. Scope of Negotiation: Parameters and limits of LC negotiation services offered
5. Examination of Documents: Standards and procedures for document examination under UCP 600
6. Payment Terms: Terms and conditions for payment, including timing and method
7. Fees and Charges: Structure and calculation of negotiation fees and other charges
8. Representations and Warranties: Standard declarations by both parties regarding capacity and authority
9. Compliance Requirements: AML, sanctions, and other regulatory compliance obligations
10. Governing Law and Jurisdiction: Application of Swiss law and jurisdiction provisions
11. Notices: Communication procedures and contact details
1. Pre-negotiation Requirements: Used when specific conditions must be met before negotiation can commence
2. Confirmation Services: Include when the bank also provides LC confirmation services
3. Document Storage: Add when specific document retention services are offered
4. Electronic Presentation: Include when electronic document presentation is permitted
5. Syndication Rights: Add when the bank may syndicate the negotiation
6. Force Majeure: Optional detailed provisions for force majeure events
7. Confidentiality: Include when handling sensitive commercial information
1. Schedule 1 - Fee Schedule: Detailed breakdown of all fees and charges
2. Schedule 2 - Required Documents: List of documents required for LC negotiation
3. Schedule 3 - Authorized Signatories: List of persons authorized to act for each party
4. Schedule 4 - Compliance Checklist: Checklist for regulatory compliance requirements
5. Appendix A - Standard Forms: Ƶ for common documents and requests
6. Appendix B - Electronic Systems: Technical specifications for electronic systems if used
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking & Financial Services
International Trade
Trade Finance
Import/Export
Commercial Banking
Corporate Banking
Shipping & Logistics
Manufacturing
Commodity Trading
Wholesale Trade
Relevant Teams
Trade Finance
Legal
Compliance
Risk Management
Operations
Treasury
International Banking
Credit
Documentary Credits
Client Relations
Product Management
Relevant Roles
Trade Finance Manager
Documentary Credits Manager
Letter of Credit Specialist
Compliance Officer
Legal Counsel
Banking Operations Manager
International Banking Officer
Risk Manager
Treasury Manager
Documentary Collections Officer
Trade Services Head
Banking Relationship Manager
Senior Credit Officer
Trade Finance Product Manager
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