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1. Parties: Identification of the applicant, issuing bank, and beneficiary with complete legal names and addresses
2. Background: Context of the LC agreement, including the underlying commercial transaction
3. Definitions: Key terms used in the agreement including banking, trade, and technical terms
4. LC Amount and Currency: Specification of the credit amount, currency, and any tolerance levels
5. Term and Validity: Duration of the LC, expiry date, and place of expiry
6. Documents Required: Detailed list of required documents for LC drawing and compliance
7. Payment Terms: Conditions for payment, timing, and method of payment
8. Banks' Rights and Obligations: Duties and responsibilities of the issuing bank and any nominated banks
9. Applicant's Obligations: Responsibilities and undertakings of the LC applicant
10. Fees and Charges: All applicable banking fees, charges, and commission rates
11. Events of Default: Circumstances constituting default and consequences
12. Governing Law and Jurisdiction: Philippine law as governing law and jurisdiction for disputes
13. Notices: Method and addresses for official communications
14. Execution: Signature blocks and execution formalities
1. Transferability: Include when the LC needs to be transferable to another beneficiary
2. Back-to-Back LC Provisions: Required when the LC will be used to support another LC
3. Electronic Presentation: Include when documents can be presented electronically
4. Revolving Credit Provisions: Add for LCs that automatically renew under specified conditions
5. Red Clause Provisions: Include when advance payment features are required
6. Assignment of Proceeds: Add when proceeds can be assigned to third parties
7. Force Majeure: Detailed provisions for unforeseen circumstances affecting LC operations
8. Insurance Requirements: Additional insurance requirements beyond standard coverage
1. Schedule 1 - LC Application Form: Standard form for LC application with all required fields
2. Schedule 2 - Fee Schedule: Detailed breakdown of all applicable fees, charges, and commission rates
3. Schedule 3 - Document Checklist: Comprehensive list of required documents and their specifications
4. Schedule 4 - Specimen Signatures: Authorized signatures for all relevant parties
5. Schedule 5 - Standard Drawing Certificate: Template for beneficiary's drawing certificate
6. Appendix A - UCP 600 Incorporation: Specific UCP 600 articles applicable to the LC
7. Appendix B - BSP Compliance Certificate: Template for certification of compliance with BSP regulations
8. Appendix C - Electronic Presentation Procedures: Detailed procedures for electronic document presentation if applicable
Banking and Financial Services
International Trade
Import/Export
Manufacturing
Retail
Wholesale
Commodities Trading
Shipping and Logistics
Agriculture
Mining and Resources
Construction
Trade Finance
International Banking
Corporate Banking
Risk Management
Legal and Compliance
Treasury
Operations
Credit Administration
Documentary Credits
International Trade Operations
Trade Finance Manager
International Banking Officer
Corporate Banking Manager
Import/Export Manager
Trade Operations Officer
Credit Risk Manager
Documentary Credits Specialist
Compliance Officer
Treasury Manager
Chief Financial Officer
Banking Relationship Manager
Trade Finance Analyst
Letter of Credit Specialist
International Trade Specialist
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