The Letter of Credit Amount document is a crucial instrument in international trade finance, particularly under German jurisdiction. It is used when parties require a secure payment method with bank-backed guarantees, typically in cross-border transactions. The document specifies the exact amount of the Letter of Credit, establishing the bank's commitment to pay the beneficiary upon presentation of compliant documents. Operating under German law and international banking practices (UCP 600), it provides detailed information about credit terms, conditions, documentary requirements, and payment arrangements. This document type is essential for businesses engaged in international trade who need to mitigate payment risks and ensure smooth transaction flow, while complying with German banking regulations and EU financial directives.
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1. Bank Details and Reference Number: Issuing bank's details, reference numbers, and date of issuance
2. Type and Nature of Credit: Specification of credit type (irrevocable, confirmed, etc.) and form of presentation
3. Applicant Details: Full name and address of the party requesting the Letter of Credit
4. Beneficiary Details: Full name and address of the party in whose favor the Letter of Credit is issued
5. Currency and Amount: Specified currency and amount of the Letter of Credit, both in figures and words
6. Expiry Details: Expiry date and place for presentation of documents
7. Payment Terms: Method and timing of payment (sight, deferred payment, acceptance, or negotiation)
8. Document Requirements: List of required documents for presentation (commercial invoice, transport documents, etc.)
9. Shipment Terms: Details of shipment including latest shipment date, partial shipments, and transhipment conditions
10. Banking Charges: Allocation of banking charges between parties
1. Confirmation Instructions: Used when confirmation from another bank is requested, specifying the confirming bank's role
2. Transfer Conditions: Include when the Letter of Credit is transferable, specifying transfer terms and conditions
3. Back-to-Back Provisions: Required when the Letter of Credit is part of a back-to-back arrangement
4. Red Clause Provisions: Include when advance payment facilities are provided to the beneficiary
5. Revolving Credit Terms: Used when the Letter of Credit is revolving, specifying reinstatement terms
6. Special Conditions: Any additional terms or conditions specific to the transaction
1. Schedule A - Commercial Invoice Requirements: Detailed requirements for the format and content of commercial invoices
2. Schedule B - Transport Document Requirements: Specific requirements for bills of lading or other transport documents
3. Schedule C - Insurance Document Requirements: Details of required insurance coverage and documentation
4. Appendix 1 - Commodity Specifications: Detailed description of goods or services covered by the Letter of Credit
5. Appendix 2 - Document Presentation Schedule: Timeline and checklist for document presentation
6. Appendix 3 - Bank Contact Details: Complete contact information for all banks involved in the transaction
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking & Financial Services
International Trade
Import/Export
Manufacturing
Retail
Commodities Trading
Shipping & Logistics
Agriculture
Energy
Construction
Automotive
Relevant Teams
Trade Finance
International Banking
Treasury
Financial Operations
Credit Operations
Risk Management
Compliance
Legal
Supply Chain
Procurement
Finance
Documentary Credits
Relevant Roles
Trade Finance Manager
International Banking Officer
Credit Manager
Treasury Manager
Import/Export Manager
Trade Operations Manager
Documentary Credits Specialist
Financial Controller
Compliance Officer
Risk Manager
Chief Financial Officer
Banking Relationship Manager
Supply Chain Manager
Procurement Manager
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