In international trade transactions where complex payment arrangements are required, a Mixed Payment LC serves as a crucial financial instrument that combines different payment methods and timing within a single Letter of Credit. This document type is particularly relevant in Malaysian jurisdiction, where it must comply with the Financial Services Act 2013 and Bank Negara Malaysia regulations. The Mixed Payment LC provides flexibility by allowing various payment arrangements such as sight payment, deferred payment, or acceptance, combined in different proportions. It includes detailed terms for document presentation, payment schedules, and specific conditions that must be met by all parties. This instrument is commonly used in large-scale international trade transactions where staged or varied payment terms are necessary to accommodate both buyer's cash flow requirements and seller's financial needs.
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1. Letter of Credit Number and Reference: Unique identification number and reference details of the LC
2. Date of Issue: Date when the Letter of Credit is issued
3. Type of Credit: Specification that this is a Mixed Payment Letter of Credit
4. Applicant Details: Full name, address, and contact information of the buyer/applicant
5. Beneficiary Details: Full name, address, and contact information of the seller/beneficiary
6. Issuing Bank Details: Name and details of the bank issuing the LC
7. Amount and Currency: Total value of the LC and currency denomination
8. Mixed Payment Structure: Detailed breakdown of payment methods, percentages, and timing
9. Expiry Date and Place: Validity period and location where the LC expires
10. Documentation Requirements: List of required documents for LC settlement
11. Shipment Terms: Details of shipment including latest shipment date and partial shipments
12. Presentation Period: Timeframe within which documents must be presented
13. General Terms and Conditions: Standard LC terms and conditions including UCP 600 reference
1. Advising Bank Details: Include when an advising bank is involved in the transaction
2. Confirming Bank Details: Include when the LC is confirmed by another bank
3. Transferability Clause: Include if the LC is transferable to other beneficiaries
4. Red Clause Provisions: Include if advance payment facilities are required
5. Back-to-Back Provisions: Include if the LC supports back-to-back arrangements
6. Special Payment Conditions: Include any specific conditions for different payment portions
7. Revolving Terms: Include if the LC has revolving features
1. Schedule A - Payment Schedule: Detailed timeline and breakdown of different payment components
2. Schedule B - Required Documents Checklist: Comprehensive list of all required documents with specific requirements
3. Schedule C - Shipping Schedule: Timeline and details of shipment arrangements
4. Appendix 1 - Document Formats: Standard formats for required documents
5. Appendix 2 - Bank Details: Complete banking information for all involved parties
6. Appendix 3 - Product Specifications: Detailed specifications of goods covered under the LC
Authors
Relevant legal definitions
Clauses
Relevant Industries
International Trade
Banking and Finance
Manufacturing
Import/Export
Logistics and Shipping
Commodities Trading
Retail
Agriculture
Energy
Construction
Technology and Electronics
Relevant Teams
Trade Finance
International Banking
Global Transaction Services
Credit Risk
Compliance
Legal
Operations
Treasury
Commercial Banking
Documentary Credits
Trade Operations
Relevant Roles
Trade Finance Manager
International Trade Specialist
Documentary Credit Officer
Finance Director
Treasury Manager
Import/Export Manager
Compliance Officer
Credit Risk Manager
Banking Operations Manager
Commercial Banking Officer
Trade Operations Specialist
Global Transaction Banking Officer
Supply Chain Finance Manager
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