Ƶ

Beneficiary In Letter Of Credit for the Netherlands

Beneficiary In Letter Of Credit Template for Netherlands

A Beneficiary Letter of Credit document under Dutch law is a formal written communication from the beneficiary (typically the seller or exporter) to the bank, presenting documents for payment under a Letter of Credit. This document, governed by both Dutch national law and international banking practices (UCP 600), serves as the official mechanism for claiming payment under the Letter of Credit terms. It must comply with Dutch financial regulations, EU directives, and international banking standards while including all required declarations, document presentations, and payment instructions. The document forms a crucial part of international trade documentation, ensuring secure payment while meeting legal and regulatory requirements in the Netherlands.

Your data doesn't train Genie's AI

You keep IP ownership of your information

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Download a Standard Template

4.6 / 5
4.8 / 5
Access for free
OR

Alternatively: Run an advanced review of an existing
Beneficiary In Letter Of Credit

Let Ƶ's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.

What is a Beneficiary In Letter Of Credit?

The Beneficiary In Letter of Credit document is essential in international trade transactions governed by Dutch law, serving as the formal mechanism through which a beneficiary (typically a seller or exporter) presents documents to claim payment under a Letter of Credit. This document type is used when a beneficiary needs to receive payment from a bank under a Letter of Credit arrangement, requiring strict compliance with the Netherlands' legal framework, EU regulations, and international banking practices (UCP 600). The document must include specific declarations, document presentations, and payment instructions that satisfy both Dutch legal requirements and international banking standards. It's particularly crucial in situations where secure international payment methods are required, providing protection for both the beneficiary and the applicant while ensuring compliance with Dutch financial regulations and anti-money laundering laws.

What sections should be included in a Beneficiary In Letter Of Credit?

1. Letter Header: Formal business letter header including date, reference number, and addressee details (typically the issuing bank)

2. Letter of Credit Reference: Clear identification of the relevant Letter of Credit including LC number, date of issuance, and issuing bank details

3. Beneficiary Details: Full legal name, address, and contact information of the beneficiary

4. Transaction Reference: Reference to the underlying commercial transaction and relevant contract/invoice numbers

5. Document Presentation: List of documents being presented under the Letter of Credit

6. Compliance Statement: Declaration that all presented documents comply with LC terms and UCP 600 requirements

7. Payment Instructions: Detailed banking information for receipt of payment

8. Closing and Signature: Formal closing, authorized signature block, and company stamp if required

What sections are optional to include in a Beneficiary In Letter Of Credit?

1. Discrepancy Notice: Section acknowledging any known discrepancies in documentation, used when minor discrepancies exist and pre-approval may be sought

2. Assignment Notice: Required when the proceeds of the LC have been assigned to a third party with the bank's consent

3. Partial Shipment Declaration: Include when the presentation relates to a partial shipment under the LC

4. Amendment Reference: Required when referring to any amendments made to the original LC

5. Special Instructions: Any specific handling instructions or requirements for the bank

What schedules should be included in a Beneficiary In Letter Of Credit?

1. Commercial Invoice: Copy of the commercial invoice relating to the goods/services

2. Transport Documents: Bills of lading, airway bills, or other transport documentation as required by the LC

3. Insurance Documents: Insurance certificates or policies if required under the LC terms

4. Certificate of Origin: Document certifying the origin of goods if required

5. Inspection Certificates: Third-party inspection certificates if required by the LC

6. Packing Lists: Detailed list of packed items if required by the LC

7. Bank Draft: Draft or bill of exchange if required under the LC terms

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Netherlands

Publisher

Ƶ

Document Type

Letter of Credit

Cost

Free to use
Relevant legal definitions









































Clauses




















Relevant Industries

International Trade

Banking and Financial Services

Manufacturing

Import/Export

Retail

Wholesale

Agriculture

Energy

Commodities

Technology

Pharmaceuticals

Automotive

Construction

Textiles

Mining

Relevant Teams

Finance

International Trade Operations

Legal

Compliance

Treasury

Trade Finance

Risk Management

Banking Operations

Export Operations

Documentary Credits

Commercial Banking

Global Transaction Services

Relevant Roles

Trade Finance Manager

Export Manager

International Sales Director

Financial Controller

Treasury Manager

Compliance Officer

Documentary Credits Specialist

International Trade Specialist

Banking Operations Manager

Chief Financial Officer

Legal Counsel

Credit Manager

Account Manager - International Trade

Risk Manager

Trade Operations Supervisor

Import/Export Coordinator

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Notice Of Credit

A Dutch-compliant formal document notifying the recipient of a credit applied to their account, including essential credit and reference information.

find out more

Letter Of Credit Project (Finance)

A Dutch law-governed letter of credit document establishing terms and conditions for project finance security arrangements, combining local banking regulations with international standards.

find out more

Letter Of Credit For Services

A Dutch law-governed banking instrument that provides payment security for service-based transactions through an irrevocable bank commitment, subject to UCP 600 rules.

find out more

Lc For Payment

A Dutch law-governed Letter of Credit document that provides a bank's irrevocable commitment to pay a beneficiary upon presentation of compliant documents.

find out more

At Sight Letter Of Credit

A Dutch law-governed banking instrument providing immediate payment upon presentation of compliant trade documents, commonly used in international trade transactions.

find out more

Lc At Sight 90 Days

A Dutch law-governed Letter of Credit providing 90-day deferred payment terms while offering immediate documentary security to the seller.

find out more

Direct Pay Letter Of Credit

A Dutch law-governed financial instrument providing bank-guaranteed direct payment upon presentation of complying documents.

find out more

Usance Lc 90 Days

A Dutch law-governed trade finance instrument providing 90-day deferred payment terms, backed by bank guarantee under UCP 600 rules.

find out more

Lc Issuance

A Dutch law-governed banking instrument that provides payment guarantee in international trade, issued by a bank under Dutch financial regulations and UCP 600.

find out more

Standby Guarantee

A Dutch law-governed bank guarantee providing financial security for commercial obligations, typically following ISP98 rules.

find out more

180 Days Usance Lc

A Dutch law-governed trade finance instrument providing 180-day deferred payment terms, backed by bank guarantee and subject to document compliance.

find out more

Export Lc Discounting

Dutch law-governed agreement for discounting export letters of credit, establishing terms between a bank and an exporter for trade finance facilities.

find out more

Lc Finance Term

Dutch law governed term loan agreement establishing terms and conditions for a fixed-term lending facility between lender(s) and borrower(s).

find out more

Cash Collateralized Letter Of Credit

Dutch law-governed agreement for a cash-backed Letter of Credit, establishing terms between bank, applicant, and beneficiary with associated collateral arrangements.

find out more

Banker's Usance Lc

A Dutch law-governed documentary credit instrument providing deferred payment terms in international trade, with payment due after a specified usance period.

find out more

Application For Letter Of Credit

A Dutch-law governed application form requesting a bank to issue a Letter of Credit for international trade transactions, specifying payment terms and conditions.

find out more

Loan Against Irrevocable Lc

Dutch law-governed agreement for providing loan facilities secured against irrevocable letters of credit, typically used in international trade finance.

find out more

Payment Terms Dlc

A Dutch law-governed document establishing payment terms and conditions between commercial parties, ensuring compliance with Dutch Civil Code and EU payment regulations.

find out more

Mixed Payment Lc

A Dutch law-governed financial instrument combining immediate and deferred payment structures in international trade transactions, providing secure and flexible payment terms under UCP 600 guidelines.

find out more

Irrevocable Non Transferable Letter Of Credit

A Dutch law-governed bank guarantee instrument that provides secure payment in international trade, subject to document compliance and UCP 600 rules.

find out more

Direct Pay Standby Letter Of Credit

A Dutch law-governed banking instrument providing an irrevocable payment guarantee upon presentation of complying documents, offering enhanced security in commercial transactions.

find out more

Credit Card Clearance Letter

A Dutch law-governed formal document confirming the full settlement and closure of credit card debt obligations, issued by the credit card company or bank to the account holder.

find out more

Freely Negotiable Letter Of Credit

Dutch law-governed Letter of Credit document for secure international trade payments, combining local legal requirements with international banking standards.

find out more

Verbiage Letter Of Credit

A Dutch-law governed Letter of Credit document that facilitates secure international trade payments while complying with both Dutch banking regulations and international standards.

find out more

Transferable Lc At Sight

A Dutch law-governed transferable letter of credit providing immediate payment upon document presentation, enabling transfer of rights to secondary beneficiaries in international trade.

find out more

Small Business Letter Of Credit

A Dutch law-governed Letter of Credit document designed for small businesses, providing secure payment guarantees in international trade transactions.

find out more

Secured Letter Of Credit

A Dutch law-governed Letter of Credit backed by security interests, providing enhanced protection in international trade transactions.

find out more

Line Of Credit Letter

A Dutch law-governed letter establishing a revolving credit facility between a financial institution and a borrower, setting out terms for borrowing, repayment, and facility management.

find out more

Non Operative Letter Of Credit

A Dutch law-governed banking instrument providing conditional payment guarantee in international trade transactions, subject to UCP 600 and Dutch financial regulations.

find out more

Letter Of Credit 90 Days

A Dutch law-governed banking instrument providing 90-day deferred payment security in international trade transactions, subject to document compliance.

find out more

Letter Of Credit 30 Days

A Dutch law-governed Letter of Credit document establishing 30-day payment terms and conditions for secure international trade transactions.

find out more

Installment Letter Of Credit

Template for an Installment Letter of Credit under Dutch law, facilitating staged payments in international trade transactions with comprehensive regulatory compliance.

find out more

Inland Letter Of Credit

A Dutch law-governed financial instrument issued by a bank guaranteeing payment for domestic trade transactions within the Netherlands upon presentation of specified documents.

find out more

Domestic Letter Of Credit

A Dutch-law governed bank guarantee instrument for domestic trade transactions, providing payment security upon presentation of compliant documents within the Netherlands.

find out more

Discrepancy Letter Of Credit

A Dutch law-governed formal notification from a bank to a beneficiary regarding discrepancies in letter of credit documentation, outlining issues and available remedies.

find out more

Beneficiary In Letter Of Credit

A Dutch law-governed formal document submitted by a beneficiary to claim payment under a Letter of Credit, complying with both Dutch and international banking regulations.

find out more

Authorization Letter To Claim Credit Card Delivery

A Dutch law-compliant authorization letter enabling a designated person to collect a credit card from a bank on behalf of the cardholder.

find out more

Unsecured Letter Of Credit

A Dutch law-governed banking instrument that provides an irrevocable payment commitment without requiring security from the applicant.

find out more

Trade Finance Letter Of Credit

A Dutch law-governed Letter of Credit providing secure payment guarantee in international trade, combining local legal requirements with UCP 600 rules.

find out more

Unconditional Letter Of Credit

A Dutch law-governed banking instrument providing an irrevocable and unconditional payment guarantee from a bank to a beneficiary, payable upon simple demand.

find out more
See more related templates

ұԾ’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; ұԾ’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

We are ISO27001 certified, so your data is secure

Organizational security:

You retain IP ownership of your documents and their information

You have full control over your data and who gets to see it