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The Unconditional Letter of Credit is a fundamental trade finance instrument used extensively in international commerce, particularly relevant in Hong Kong's position as a global financial hub. It serves as a secure payment method where the issuing bank makes an irrevocable commitment to pay the beneficiary upon presentation of compliant documents, without additional conditions. This document is typically used when parties seek a high level of payment security in cross-border transactions, especially in situations where the buyer and seller may not have established business relationships. The document's structure and content are governed by Hong Kong law and international banking practices, primarily the UCP 600, making it a standardized yet flexible instrument that can accommodate various trade scenarios. It includes essential details such as payment terms, document requirements, and shipping conditions, while maintaining its unconditional nature regarding payment obligation.

1. Letter Reference Number: Unique identification number for the Letter of Credit

2. Date of Issue: Date when the Letter of Credit is issued

3. Type of Credit: Specification that this is an Unconditional, Irrevocable Letter of Credit

4. Issuing Bank Details: Complete name and address of the issuing bank

5. Applicant Details: Full name and address of the party requesting the Letter of Credit

6. Beneficiary Details: Full name and address of the party in whose favor the Letter of Credit is issued

7. Currency and Amount: The currency and amount for which the Letter of Credit is issued, in both figures and words

8. Expiry Date: Date and place of expiry of the Letter of Credit

9. Payment Terms: Specification of payment conditions and timing

10. Available With/By: Specification of where and how the credit is available (e.g., by sight payment, deferred payment)

11. Transhipment: Whether transhipment is allowed or prohibited

12. Partial Shipments: Whether partial shipments are allowed or prohibited

13. Authorization: Authorized signatures and bank stamps