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.
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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."
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
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
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
Relevant legal definitions
Clauses
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
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