The Letter of Credit 30 Days is a fundamental trade finance instrument used in international commerce when parties seek a secure payment method with deferred settlement. This document, governed by German law, provides a structured framework where a bank commits to pay the seller within 30 days after the presentation of compliant documents, effectively managing the risks inherent in international trade. It is particularly useful when dealing with new trading partners or in jurisdictions where direct enforcement of contracts might be challenging. The document incorporates both German banking regulations and international banking practices (UCP 600), making it a robust instrument for facilitating international trade while providing security to both importers and exporters. The 30-day payment term offers buyers valuable cash flow management benefits while giving sellers payment certainty backed by bank security.
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1. Bank Reference Number: Unique identification number assigned to the Letter of Credit
2. Issuing Bank Details: Complete name, address, and contact information of the issuing bank
3. Beneficiary Details: Full name, address, and contact information of the seller/exporter
4. Applicant Details: Full name, address, and contact information of the buyer/importer
5. Date of Issue: Date when the Letter of Credit is issued
6. Credit Amount: Specific amount and currency of the Letter of Credit
7. Expiry Date: Date and place of expiry of the Letter of Credit
8. Payment Terms: Specification of 30-day payment terms and conditions
9. Required Documents: List of documents required for presentation
10. Shipment Terms: Details of shipment including latest shipment date and partial shipments
11. Description of Goods: Detailed description of the goods being traded
12. Bank Charges: Specification of which party bears which bank charges
1. Transferability Clause: Include when the L/C needs to be transferable to a second beneficiary
2. Red Clause: Include when advance payment to the beneficiary is permitted
3. Revolving Credit Terms: Include for L/Cs that automatically renew
4. Back-to-Back Provisions: Include when the L/C supports a back-to-back credit arrangement
5. Standby Provisions: Include when the L/C serves as a standby credit
6. Special Instructions: Include when there are specific handling or processing requirements
1. Commercial Invoice Template: Approved format for commercial invoice presentation
2. Transport Document Requirements: Detailed specifications for acceptable transport documents
3. Insurance Document Requirements: Specifications for required insurance documentation
4. Product Specifications: Detailed technical specifications of the goods
5. Banking Instructions: Specific instructions for document handling and payment processing
6. UCP 600 Disclaimer: Standard disclaimers and applicable UCP 600 articles
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
International Trade
Manufacturing
Retail
Wholesale
Agriculture
Energy
Mining
Automotive
Consumer Goods
Industrial Equipment
Chemicals
Textiles
Electronics
Commodities Trading
Relevant Teams
Legal
Finance
Treasury
International Trade
Procurement
Supply Chain
Risk Management
Compliance
Trade Operations
Credit Control
Banking Relations
Documentary Credits
Relevant Roles
Trade Finance Manager
International Trade Specialist
Financial Controller
Treasury Manager
Import/Export Manager
Supply Chain Manager
Procurement Director
Chief Financial Officer
Banking Relations Manager
Documentary Credits Specialist
Compliance Officer
Legal Counsel
Credit Risk Manager
International Sales Manager
Trade Operations Manager
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