The Letter of Credit 90 Days is a crucial trade finance instrument used in international commerce under Pakistani jurisdiction, providing a secure payment mechanism for cross-border transactions. It is particularly valuable when parties seek extended payment terms while maintaining transaction security. The document is issued by Pakistani banks in compliance with State Bank of Pakistan regulations and international UCP 600 guidelines, offering a 90-day payment term from the date of document presentation. This instrument is commonly used when importers require additional time to manage cash flow while providing exporters with bank-backed payment security. The document includes detailed specifications of the trade terms, required documentation, and compliance requirements, serving as both a payment guarantee and a risk mitigation tool in international trade.
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1. Letter Reference Number and Date: Unique L/C identification number and issuance date
2. Applicant Details: Complete name and address of the party requesting the L/C (usually the buyer/importer)
3. Beneficiary Details: Complete name and address of the party in whose favor the L/C is issued (usually the seller/exporter)
4. Issuing Bank Details: Name and address of the bank issuing the L/C
5. Amount and Currency: The credit amount and currency specification
6. Expiry Date: 90-day validity period specification and expiry date
7. Place of Expiry: Location where the L/C expires
8. Available With/By: Specification of where and how the credit is available (payment, acceptance, negotiation)
9. Partial Shipments: Whether partial shipments are allowed or prohibited
10. Transhipment: Whether transhipment is allowed or prohibited
11. Documents Required: List of all required documents for L/C negotiation
12. Goods Description: Detailed description of the merchandise being traded
13. Incoterms: Specified shipping terms and conditions
14. Latest Shipment Date: Final date by which shipment must be made
1. Advising Bank: Details of the intermediary bank, used when L/C needs to be advised through a specific bank
2. Confirmation Instructions: Used when confirmation is requested from another bank
3. Transferability Clause: Include when the L/C needs to be transferable to another beneficiary
4. Red Clause: Include when advance payment to the beneficiary is allowed
5. Green Clause: Include when storage of goods is involved with advance payment
6. Insurance Instructions: Used when specific insurance requirements need to be detailed
7. Special Payment Conditions: Include when there are specific conditions for payment such as deferred payment terms
1. Commercial Invoice Template: Standard format for the commercial invoice required under the L/C
2. Packing List Requirements: Detailed specifications for how goods should be packed and listed
3. Bill of Lading Requirements: Specific requirements for the transport documents
4. Certificate of Origin Requirements: Format and requirements for origin certification
5. Inspection Certificate Requirements: Requirements for pre-shipment inspection if required
6. Bank Draft Format: Standard format for the bank draft to be drawn
7. Amendment Request Form: Standard format for requesting amendments to the L/C
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
International Trade
Import/Export
Manufacturing
Retail
Commodities Trading
Agriculture
Textiles
Automotive
Electronics
Mining
Oil and Gas
Pharmaceuticals
Chemical Industry
Relevant Teams
Finance
International Trade
Treasury
Legal
Compliance
Risk Management
Procurement
Supply Chain
Commercial Operations
Banking Operations
Documentary Credits
Trade Operations
Relevant Roles
Trade Finance Manager
Import Manager
Export Manager
Finance Director
Chief Financial Officer
Treasury Manager
Banking Relationship Manager
International Trade Specialist
Documentary Credits Officer
Compliance Officer
Risk Manager
Supply Chain Manager
Procurement Manager
Legal Counsel
Company Secretary
Commercial Director
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