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1. Parties: Identification of the issuing bank, applicant (buyer), and beneficiary (seller)
2. Background: Context of the underlying transaction and purpose of the secured letter of credit
3. Definitions: Key terms used throughout the letter of credit, including banking, security and trade terms
4. Credit Amount and Currency: Specification of the credit amount, currency, and any tolerance levels
5. Security Arrangements: Details of the security provided, including type, value, and maintenance requirements
6. Documentation Requirements: Specific documents required for presentation and their characteristics
7. Presentation Terms: Time, place, and manner of presentation of documents
8. Payment Terms: Conditions and timing of payment, including any partial payments or deferred payment arrangements
9. Security Enforcement: Rights and procedures for enforcing security in case of default
10. Governing Law and Jurisdiction: Specification of Hong Kong law and jurisdiction
11. UCP 600 Incorporation: Express incorporation of UCP 600 rules
1. Multiple Drawing Provisions: Include when the credit allows for multiple drawings over time
2. Transferability Provisions: Include when the credit is transferable to other beneficiaries
3. Revolving Credit Terms: Include for revolving letters of credit that automatically renew
4. Back-to-Back Arrangements: Include when this LC is part of a back-to-back letter of credit structure
5. Insurance Requirements: Include when specific insurance is required for the security
6. Margin Call Provisions: Include when the security requires ongoing margin maintenance
7. Syndication Provisions: Include when multiple banks are involved in providing the credit
1. Schedule 1 - Security Details: Detailed description of the security assets and their valuation
2. Schedule 2 - Required Documents: Comprehensive list and format of required documents for presentation
3. Schedule 3 - Fee Schedule: Breakdown of all applicable fees, charges and commission
4. Appendix A - Form of Draw Request: Standard format for making drawings under the letter of credit
5. Appendix B - Security Perfection Requirements: Steps required to perfect the security interest
6. Appendix C - Standing Instructions: Payment and processing instructions for the banks involved
Banking and Financial Services
International Trade
Manufacturing
Import/Export
Commodities Trading
Shipping and Logistics
Construction
Energy
Agriculture
Mining
Legal
Trade Finance
Credit Risk
Operations
Compliance
Treasury
Corporate Banking
International Banking
Documentation
Security and Collateral Management
Trade Finance Manager
Credit Risk Officer
Legal Counsel
Banking Operations Manager
Security Trustee
Trade Finance Operations Officer
Compliance Officer
Documentary Credits Specialist
Corporate Banking Manager
Treasury Manager
Chief Financial Officer
Import/Export Manager
Senior Credit Analyst
Banking Relationship Manager
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