The Letter of Credit Verbiage document is essential for international trade transactions conducted under Swiss jurisdiction. It provides the formal written undertaking by a bank to pay a specified sum to a beneficiary, subject to strict compliance with documented terms and conditions. This template is specifically designed to comply with Swiss banking regulations, including the Federal Banking Act and Financial Market Supervision requirements, while adhering to international UCP 600 standards. The document is typically used when parties seek a secure method of payment in international trade, particularly when dealing with new business relationships or high-value transactions. It includes comprehensive details about payment conditions, document requirements, timeframes, and banking obligations, structured to provide maximum security and clarity for all parties involved in the transaction.
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1. Bank Details and Reference Number: Issuing bank's details, letter of credit number, and date of issuance
2. Applicant Information: Complete details of the party requesting the letter of credit (buyer/importer)
3. Beneficiary Information: Complete details of the party in whose favor the letter of credit is issued (seller/exporter)
4. Currency and Amount: Specific amount and currency of the letter of credit
5. Expiry Date and Place: Validity period and location where documents must be presented
6. Form of Credit: Whether irrevocable or confirmed, and type of letter of credit
7. Available With/By: Specifies how and where the credit is available (payment, acceptance, negotiation)
8. Partial Shipments/Transhipment: Whether partial shipments or transhipment is allowed or prohibited
9. Loading/Dispatch/Taking in Charge: Shipping details including place of receipt and destination
10. Latest Date of Shipment: Final date by which shipment must be made
11. Description of Goods/Services: Detailed description of the underlying transaction
12. Required Documents: List of documents required for presentation
13. Additional Conditions: Any special terms or conditions applicable to the credit
14. Charges: Specification of banking charges and which party bears them
15. Presentation Period: Time period for document presentation after shipment
1. Confirmation Instructions: Used when credit requires confirmation from another bank
2. Transfer Conditions: Required for transferable letters of credit, specifying transfer terms
3. Back-to-Back Provisions: Included when the credit is part of a back-to-back arrangement
4. Revolving Credit Terms: For revolving letters of credit, specifying reinstatement terms
5. Red Clause Provisions: When advance payment provisions are included
6. Green Clause Provisions: When storage provisions are included
7. Insurance Instructions: Detailed insurance requirements when required by credit terms
8. Special Payment Conditions: For credits with specific payment timing or conditions
1. Document Checklist: Detailed checklist of required documents and their specifications
2. Commercial Invoice Requirements: Specific requirements for commercial invoice presentation
3. Transport Document Requirements: Detailed specifications for transport documents
4. Insurance Document Requirements: Specifications for insurance documentation when required
5. Certificate Requirements: Requirements for certificates of origin, inspection, etc.
6. Bank Format Specifications: Specific format requirements for banking documents
7. Amendment Procedure: Standard procedures for amendments to the letter of credit
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
International Trade
Import/Export
Manufacturing
Commodities Trading
Shipping and Logistics
Agriculture
Energy
Mining
Retail
Wholesale Distribution
Construction
Pharmaceuticals
Technology Hardware
Relevant Teams
Trade Finance
International Banking
Legal
Compliance
Treasury
Risk Management
Documentary Credits
Trade Operations
Banking Operations
Export Finance
Import Operations
Credit Administration
Transaction Banking
Global Markets
Relevant Roles
Trade Finance Manager
International Banking Officer
Documentary Credits Specialist
Export Finance Manager
Import Operations Manager
Trade Operations Officer
Credit Risk Manager
Compliance Officer
Legal Counsel
Treasury Manager
Banking Relationship Manager
Trade Finance Product Manager
Documentary Collections Officer
Senior Letter of Credit Specialist
International Trade Advisor
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