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Lc At Sight Terms Template for Indonesia

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Key Requirements PROMPT example:

Lc At Sight Terms

"Need LC at Sight Terms document for Indonesian textile manufacturer exporting to European buyer, value USD 500,000, with special requirements for sustainable production certification and pre-shipment inspection clauses."

What is a Lc At Sight Terms?

The LC at Sight Terms document is essential for international trade transactions under Indonesian jurisdiction, providing a secure payment mechanism for cross-border trade. It is used when immediate payment is required upon presentation of compliant documents, as opposed to deferred payment terms. The document incorporates key elements of Indonesian banking regulations, UCP 600 guidelines, and relevant trade laws, making it particularly important for transactions involving Indonesian parties or Indonesian bank issuance. The terms specify the conditions under which the issuing bank will make payment, document requirements, timeframes, and the roles and responsibilities of all parties involved. This document type is crucial for businesses engaged in import/export activities and requires careful attention to both international banking practices and local regulatory compliance.

What sections should be included in a Lc At Sight Terms?

1. Issuing Bank Details: Complete details of the bank issuing the LC including name, branch, SWIFT code and contact information

2. Beneficiary Information: Full details of the beneficiary (exporter) including name, address, and bank account details

3. Applicant Information: Complete details of the applicant (importer) including name, address and contact information

4. LC Number and Date: Unique LC reference number and date of issuance

5. Currency and Amount: Specification of the credit amount and currency

6. Expiry Date and Place: Clear statement of when and where the LC expires

7. Shipment Terms: Details of shipment including latest shipment date, partial shipment and transhipment permissions

8. Port Details: Specification of port of loading and discharge

9. Goods Description: Detailed description of the goods being traded

10. Document Requirements: List of required documents for LC presentation

11. Payment Terms: Specification that payment is available at sight against compliant presentation

What sections are optional to include in a Lc At Sight Terms?

1. Advising Bank Details: Required when LC is advised through a different bank than the issuing bank

2. Confirmation Instructions: Include when the LC needs to be confirmed by another bank

3. Transfer Conditions: Required when the LC is transferable

4. Special Conditions: Any additional terms or conditions specific to the transaction

5. Insurance Requirements: Detailed insurance requirements if not covered in standard documentation

6. Pre-shipment Inspection: Include when specific inspection requirements exist before shipment

What schedules should be included in a Lc At Sight Terms?

1. Document Presentation Checklist: Detailed checklist of required documents and their specifications

2. Commercial Invoice Format: Template or requirements for commercial invoice presentation

3. Bill of Lading Requirements: Specific requirements and acceptable forms for transport documents

4. Bank Contact Details: Complete contact information for all banks involved in the transaction

5. Goods Specification Sheet: Detailed technical specifications of the goods being traded

6. Documentary Requirements Matrix: Comprehensive matrix showing all required documents and their key requirements

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

Relevant legal definitions

































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Relevant Industries

Banking and Financial Services

International Trade

Manufacturing

Agriculture

Mining

Textiles

Electronics

Automotive

Chemical Industry

Consumer Goods

Commodities Trading

Shipping and Logistics

Relevant Teams

Trade Finance

International Banking

Operations

Credit Administration

Risk Management

Treasury

Compliance

Legal

Supply Chain

Procurement

Finance

Global Markets

Relevant Roles

Trade Finance Manager

International Trade Specialist

Import/Export Manager

Documentary Credit Officer

Banking Operations Manager

Compliance Officer

Treasury Manager

Chief Financial Officer

Supply Chain Manager

Procurement Manager

Finance Director

Banking Relationship Manager

Trade Operations Officer

Risk Management Officer

Credit Analyst

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

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