The Application for Letter of Credit is a fundamental document in international trade finance, used when a buyer needs to establish a letter of credit as a payment mechanism for international transactions. This application form, which must comply with Canadian banking regulations and international banking practices, initiates the process of creating a letter of credit facility. It is typically used when an importer (buyer) wants to provide payment security to an exporter (seller) in an international trade transaction. The document includes comprehensive information about the transaction, including details about both parties, the goods or services being traded, shipping terms, required documentation, and specific conditions that must be met for payment to be released. The application serves as the basis for the bank's issuance of the letter of credit and must be completed with precision to avoid complications in the international trade process.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Ƶ's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
1. Applicant Information: Full legal name, address, contact details, and banking relationship details of the party requesting the letter of credit
2. Beneficiary Information: Complete details of the beneficiary including full legal name, address, and banking information
3. Letter of Credit Details: Type of LC, amount, currency, expiry date, and place of expiry
4. Shipping Terms: Shipment details including latest shipment date, partial shipments, transhipment permissions, and shipping route
5. Document Requirements: List of required documents (commercial invoice, transport documents, insurance documents, etc.) and their specifications
6. Goods Description: Detailed description of goods or services covered by the letter of credit
7. Terms and Conditions: Special conditions, additional terms, and any specific requirements for the letter of credit
8. Bank Charges: Specification of which party bears various bank charges and commissions
9. Authorization: Declaration and signature section confirming the application and authorizing the bank to proceed
1. Insurance Instructions: Used when the applicant needs to specify insurance requirements for the shipment
2. Special Payment Terms: Include when requesting specific payment arrangements such as deferred payment or acceptance terms
3. Back-to-Back LC Details: Required when the application is for a back-to-back letter of credit
4. Transfer Rights: Include when the letter of credit needs to be transferable
5. Red Clause Provisions: Used when advance payment provisions are required
6. Revolving Credit Details: Include when applying for a revolving letter of credit
1. Schedule A - Document Checklist: Detailed checklist of all required documents and their specifications
2. Schedule B - Bank's Standard Terms and Conditions: Standard terms and conditions of the issuing bank for letters of credit
3. Schedule C - Fee Schedule: Detailed breakdown of all applicable fees and charges
4. Appendix 1 - Supporting Documents: Copies of underlying commercial documents (purchase order, proforma invoice, etc.)
5. Appendix 2 - Special Instructions: Any additional or special instructions for document handling or processing
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
International Trade
Manufacturing
Import/Export
Retail
Wholesale
Agriculture
Mining
Oil and Gas
Textile
Electronics
Automotive
Construction
Commodities Trading
Relevant Teams
Finance
International Trade Operations
Treasury
Procurement
Supply Chain
Legal
Trade Finance
Commercial Banking
Credit Administration
Documentary Credits
Risk Management
Relevant Roles
Trade Finance Manager
Import/Export Manager
Financial Controller
Treasury Manager
Chief Financial Officer
International Business Development Manager
Trade Operations Officer
Credit Manager
Banking Relationship Manager
Procurement Manager
Supply Chain Manager
Finance Director
International Trade Specialist
Commercial Banking Officer
Documentary Credits Specialist
Find the exact document you need
Import Bill Under Lc
A Canadian-law governed agreement establishing terms and conditions for import transactions using Letters of Credit, defining rights and obligations of all parties involved in international trade transactions.
find out more
Standby Letter Of Credit Cost
A Canadian-compliant document detailing the complete fee structure and costs associated with issuing and maintaining a standby letter of credit.
find out more
Letter Of Credit Project (Finance)
A Canadian-law governed Letter of Credit facility agreement for project finance transactions, establishing terms, conditions, and security arrangements under federal and provincial regulations.
find out more
Lc Sight And Usance
A Canadian-law governed Letter of Credit document combining immediate (sight) and deferred (usance) payment options for international trade transactions.
find out more
Letter Of Credit Limit
A Canadian law-governed agreement establishing a bank facility for issuing letters of credit up to a specified limit, outlining terms, conditions, and compliance requirements.
find out more
Lc Invoice
A Canadian-compliant commercial invoice specifically formatted to support Letter of Credit requirements in international trade transactions, adhering to federal banking and trade regulations.
find out more
Irrevocable Unconfirmed Letter Of Credit
A Canadian-governed banking instrument providing irrevocable payment commitment in international trade, subject to document compliance and UCP 600 rules.
find out more
Lc Payment Terms In Export
Canadian-law governed Letter of Credit payment terms document specifying conditions and requirements for export transactions.
find out more
SBLC Dlc
A Canadian-law governed banking instrument providing payment security in international trade transactions, following both domestic and international banking standards.
find out more
Irrevocable Letter Of Credit Cost
A Canadian banking document detailing the costs and fees associated with an irrevocable letter of credit, governed by Canadian banking laws and UCP 600.
find out more
Cash Backed SBLC
Canadian law-governed agreement for a cash-backed Standby Letter of Credit, establishing terms, conditions, and obligations for all parties involved.
find out more
SBLC Transferable
A Canadian law-governed Transferable Standby Letter of Credit document that establishes terms for a transferable bank guarantee, incorporating federal banking and provincial securities regulations.
find out more
Export Lc Discounting
A Canadian law-governed agreement for discounting export letters of credit, enabling exporters to obtain immediate financing against their LC receivables.
find out more
SBLC Non Recourse Loan
Canadian law-governed non-recourse loan agreement secured by SBLC, establishing terms for limited-recourse financing with specific collateral provisions.
find out more
SBLC Trade Program
Canadian-law governed agreement establishing terms and conditions for a Standby Letter of Credit (SBLC) Trade Program, including issuance, maintenance, and drawing conditions.
find out more
Loan Against Lc
A Canadian-law governed agreement establishing a loan facility secured by a Letter of Credit, incorporating federal and provincial banking regulations.
find out more
Application For Letter Of Credit
A Canadian-compliant formal application document used to request a bank to issue a letter of credit for international trade transactions.
find out more
SBLC Buyers
A Canadian-law governed agreement establishing terms for SBLC issuance between a buyer and issuing bank, incorporating federal banking and provincial contract law requirements.
find out more
Transferring Bank In Lc
A Canadian-law governed agreement for transferring rights under a Letter of Credit from the first beneficiary to a second beneficiary, executed by a transferring bank.
find out more
Revolving SBLC
A Canadian-law governed Revolving Standby Letter of Credit providing a renewable guarantee facility, structured under federal banking regulations and international banking practices.
find out more
Payment Terms Dlc
Canadian-law governed payment terms document for Documentary Letter of Credit arrangements, detailing requirements and obligations for international trade transactions.
find out more
Non Transferable SBLC
A Canadian law-governed Non-Transferable Standby Letter of Credit providing payment guarantee from a bank to a beneficiary, with explicit prohibition on transfer or assignment.
find out more
Negotiation Bank In Lc
A Canadian-law governed Negotiation Bank Letter of Credit document establishing terms for secure international trade payment through bank negotiation.
find out more
Freely Negotiable Letter Of Credit
A Canadian-law governed, bank-issued payment guarantee document that provides security in trade transactions while allowing negotiation and transfer of payment rights.
find out more
Time Letter Of Credit
A Canadian-law governed bank-issued document guaranteeing payment to a seller at a specified future date upon presentation of compliant documents.
find out more
Straight Letter Of Credit
A Canadian-law governed banking instrument providing secure payment in international trade through bank-guaranteed payment upon presentation of compliant documents.
find out more
Non Operative Letter Of Credit
A Canadian-compliant banking instrument that provides a guaranteed payment commitment from a bank to a beneficiary upon meeting specified documentary conditions.
find out more
Letter Of Credit 90 Days
A Canadian-compliant banking instrument providing payment assurance in trade transactions, valid for 90 days, governed by federal banking laws and UCP 600.
find out more
Letter Of Credit 60 Days
A Canadian-law governed Letter of Credit providing a 60-day payment deferral period, issued by a bank as a secure payment mechanism for international trade transactions.
find out more
Letter Of Credit 30 Days
A Canadian-law governed Letter of Credit providing 30-day deferred payment terms, where a bank guarantees payment to a seller upon document compliance.
find out more
Irrevocable Confirmed Lc At Sight
A Canadian-compliant financial instrument providing guaranteed payment at sight in international trade, backed by both issuing and confirming banks under federal banking laws and UCP 600 rules.
find out more
Domestic Letter Of Credit
A Canadian bank-issued payment guarantee instrument for domestic transactions, governed by Canadian banking laws and regulations, providing payment security between domestic buyers and sellers.
find out more
Digital Letter Of Credit
A Canadian-compliant digital banking instrument that guarantees payment in international trade transactions, subject to electronic document presentation under Canadian law.
find out more
Unsecured Letter Of Credit
A Canadian-governed bank instrument providing payment guarantee to a seller without requiring security from the buyer, governed by Canadian banking laws and UCP 600.
find out more
Unconditional Letter Of Credit
A Canadian-law governed bank undertaking providing unconditional payment assurance to a beneficiary upon presentation of complying documents.
find out more
Transit Letter Of Credit
A Canadian-compliant banking instrument that guarantees payment for goods in transit, combining domestic banking regulations with international trade practices.
find out more
Synthetic Letter Of Credit
A Canadian-law governed financial instrument combining traditional letter of credit features with synthetic structures to provide enhanced flexibility in trade finance transactions.
find out more
Syndicated Letter Of Credit
Canadian law-governed agreement establishing terms for a multi-bank letter of credit facility with shared risk and commitment structures.
find out more
Surety Backed Letter Of Credit
A Canadian-law governed financial instrument combining a letter of credit with surety protection, providing enhanced security for complex commercial transactions.
find out more
Structured Letter Of Credit
A Canadian-law governed banking instrument providing secured payment commitment with structured terms for complex commercial transactions, following UCP 600 rules and Canadian banking regulations.
find out more
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)