The Irrevocable Letter of Credit Cost document is essential in international trade finance and banking operations within Canada. It is specifically used when parties need to establish clear terms regarding the costs and fees associated with an irrevocable letter of credit facility. This document becomes necessary when businesses engage in international trade transactions requiring letters of credit, ensuring transparency in banking charges and compliance with Canadian banking regulations. The document typically includes detailed breakdowns of various fees such as issuance charges, amendment fees, negotiation costs, and other banking expenses. It serves as a crucial reference point for all parties involved in the letter of credit transaction, providing clarity on financial obligations and helping businesses budget accurately for their trade finance needs. The document must comply with Canadian federal banking laws, provincial regulations where applicable, and international banking practices under UCP 600.
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. Letter Reference Number: Unique identification number assigned by the issuing bank
2. Date of Issuance: The date when the letter of credit is issued
3. Applicant Details: Full name and address of the party requesting the letter of credit (usually the buyer)
4. Beneficiary Details: Full name and address of the party in whose favor the LC is issued (usually the seller)
5. Issuing Bank Details: Name, address, and SWIFT code of the bank issuing the letter of credit
6. Amount and Currency: The maximum amount and currency of the letter of credit
7. Expiry Date: The date and place of expiry of the letter of credit
8. Form of Presentation: Specification of how and where documents should be presented
9. Required Documents: List of documents that must be presented for payment
10. Payment Terms: Conditions and timing of payment upon document presentation
11. Shipment Terms: Details of shipment including latest shipment date and partial shipments allowance
12. Governing Law Statement: Statement that the LC is subject to UCP 600 and Canadian law
1. Advising Bank Details: Details of the intermediary bank, used when there's a bank in the beneficiary's country acting as an advisor
2. Confirmation Instructions: Used when the LC needs to be confirmed by another bank
3. Transferability Clause: Include when the LC needs to be transferable to another beneficiary
4. Red Clause: Include when advance payment to the beneficiary is allowed
5. Green Clause: Include when warehouse storage-related advances are permitted
6. Revolving Credit Terms: Include when the LC is revolving rather than single-use
7. Back-to-Back Provisions: Include when this LC is being used to support the issuance of another LC
8. Standby Provisions: Include when the LC is being used as a standby instrument rather than for trade finance
1. Schedule A - Commercial Invoice Requirements: Detailed requirements for the format and content of commercial invoices
2. Schedule B - Transport Document Requirements: Specific requirements for bills of lading or other transport documents
3. Schedule C - Insurance Document Requirements: Details of required insurance documentation and coverage
4. Appendix 1 - Product Specifications: Detailed specifications of the goods being traded
5. Appendix 2 - Fee Schedule: Breakdown of all banking fees and charges associated with the LC
6. Appendix 3 - Amendment Procedures: Procedures for requesting and processing amendments to the LC
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
International Trade
Import/Export
Manufacturing
Retail
Commodities Trading
Agriculture
Mining
Oil and Gas
Shipping and Logistics
Construction
Wholesale Distribution
Technology Hardware
Relevant Teams
Finance
Treasury
International Trade Operations
Banking Operations
Credit Administration
Compliance
Legal
Trade Documentation
Risk Management
Corporate Banking
Trade Finance
Relevant Roles
Trade Finance Manager
International Banking Officer
Chief Financial Officer
Finance Director
Treasury Manager
Import/Export Manager
Trade Operations Manager
Credit Manager
Banking Relationship Manager
Documentary Credits Specialist
Compliance Officer
Financial Controller
Senior Account Manager - Corporate Banking
Trade Finance Analyst
Letter of Credit 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)