This document is essential for businesses engaged in international trade in Indonesia requiring Letter of Credit facilities from banks. A Cash Collateralized Letter of Credit agreement is specifically used when the applicant provides cash collateral to secure the bank's issuance of LCs, typically ranging from 100% to 110% of the LC value. The agreement is structured to comply with Indonesian banking regulations, particularly Bank Indonesia's prudential principles, while incorporating international trade finance practices. It's commonly used by importers and exporters who may not have sufficient unsecured credit facilities with banks or who prefer to use cash collateral for better pricing. The document covers all aspects of the facility, from collateral requirements to LC issuance procedures, and includes necessary provisions for regulatory compliance, risk management, and enforcement under Indonesian law.
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1. Parties: Details of the applicant, issuing bank, and any other relevant parties
2. Background: Context of the agreement and relationship between the parties
3. Definitions: Definitions of key terms used throughout the agreement
4. Letter of Credit Facility: Terms and conditions of the LC facility, including maximum amount, validity period, and purpose
5. Cash Collateral Requirements: Details of cash collateral amount, maintenance requirements, and top-up obligations
6. Collateral Account: Provisions regarding the establishment, maintenance, and operation of the cash collateral account
7. Security Interest: Creation and perfection of security interest over the cash collateral
8. Rights and Obligations: Detailed responsibilities and rights of each party
9. Representations and Warranties: Standard representations and warranties from the applicant
10. Events of Default: Circumstances constituting default and consequences
11. Bank's Rights and Remedies: Actions bank can take in case of default or other trigger events
12. Fees and Charges: All applicable fees, charges, and payment terms
13. Communications: Methods and requirements for notices and other communications
14. Governing Law and Jurisdiction: Specification of Indonesian law as governing law and jurisdiction details
1. Multiple Currency Provisions: Required when LC facility allows for multiple currencies
2. Back-to-Back LC Arrangements: Needed when back-to-back LC structure is contemplated
3. Transfer and Assignment: Include when transfer of LC rights is permitted
4. Additional Security: Required when other forms of security are provided alongside cash collateral
5. Tax Provisions: Detailed tax clauses needed for cross-border transactions
6. Force Majeure: Specific force majeure provisions beyond standard terms
7. Anti-Money Laundering Compliance: Detailed AML provisions for high-risk transactions or parties
1. LC Application Form: Standard form for applying for individual LCs under the facility
2. Fee Schedule: Detailed breakdown of all applicable fees and charges
3. Collateral Maintenance Requirements: Detailed procedures for maintaining and monitoring collateral
4. Authorized Signatories: List of authorized persons who can act on behalf of the applicant
5. Standard LC Format: Template format for LCs to be issued under the facility
6. Required Documents: List of documents required for LC issuance and drawings
7. Communication Procedures: Detailed procedures for various types of communications
8. Compliance Certificates: Forms of various compliance certificates required under the agreement
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
International Trade
Import/Export
Manufacturing
Commodities Trading
Retail
Agriculture
Mining
Energy
Textiles
Construction
Relevant Teams
Legal
Finance
Treasury
International Trade Operations
Risk Management
Compliance
Trade Finance
Credit
Corporate Banking
Documentary Credits
Relevant Roles
Trade Finance Manager
Chief Financial Officer
Treasury Manager
Import/Export Manager
Finance Director
Corporate Banking Officer
Trade Operations Manager
Risk Manager
Compliance Officer
Legal Counsel
Documentary Credits Specialist
International Business Manager
Credit Risk Officer
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