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Clean Letters of Credit are essential financial instruments in international trade, particularly relevant in the Philippine context where they facilitate secure import-export transactions. A Clean Letter of Credit differs from other types as it requires only the standard commercial documents (like bills of lading, commercial invoices, and insurance documents) without additional security or special documentation. This document type is governed by Philippine banking regulations, particularly the General Banking Law of 2000 and BSP Circular No. 1028, while also adhering to international standards such as UCP 600. It's commonly used when there is established trust between trading parties or when the transaction involves standard commodities or goods. The document provides security to both importers and exporters by ensuring payment will be made upon presentation of compliant documents, making it a preferred method of trade finance in the Philippines' international commerce.

1. Issuing Bank Details: Complete name, address, and reference numbers of the issuing bank

2. Letter of Credit Number: Unique identification number of the LC

3. Date of Issue: Date when the Letter of Credit is issued

4. Beneficiary Details: Complete name and address of the beneficiary (seller/exporter)

5. Applicant Details: Complete name and address of the applicant (buyer/importer)

6. Credit Amount: Currency and amount of the Letter of Credit

7. Expiry Date: Date and place of expiry of the Letter of Credit

8. Payment Terms: Specification of when and how payment will be made (at sight, deferred payment, etc.)

9. Available With/By: Specification of where and how the credit is available

10. Shipment Terms: Latest shipment date and any partial shipment/transshipment conditions

11. Brief Description of Goods: Concise description of the goods being traded

12. Documents Required: List of documents required for presentation

13. Additional Conditions: Any specific conditions or requirements

14. Bank Charges: Specification of which party bears which bank charges

15. Authentication: Authorized signatures and authentication details