The Unsecured Letter of Credit is a fundamental instrument in international trade finance, particularly relevant under Hong Kong's sophisticated banking system. It is typically used when an applicant (usually a buyer) has a strong creditworthy relationship with their bank, eliminating the need for security against the credit facility. This document is essential when parties seek to facilitate international trade transactions while managing payment risks, especially in cross-border dealings. The letter operates under Hong Kong law and UCP 600, providing detailed terms for payment obligations, document requirements, and compliance conditions. It differs from secured letters of credit as it relies solely on the applicant's creditworthiness rather than specific collateral, making it a more flexible but potentially higher-risk instrument for the issuing bank.
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. Issuing Bank Details: Complete name, address, and reference numbers of the issuing bank
2. Date and Place of Issue: Clear statement of when and where the letter of credit was issued
3. Credit Number: Unique identification number of the letter of credit
4. Beneficiary Details: Full name and address of the party in whose favor the credit is issued
5. Applicant Details: Full name and address of the party requesting the letter of credit
6. Credit Amount: Currency and amount of the credit, including any tolerance if applicable
7. Credit Type and Availability: How and where the credit is available (payment, acceptance, negotiation)
8. Expiry Date and Place: When and where the credit expires
9. Required Documents: List of documents that must be presented for payment
10. Payment Terms: Specific conditions and timing of payment
11. Governing Law Statement: Clear statement that Hong Kong law governs the letter of credit
1. Transferability Clause: Include when the credit needs to be transferable to another beneficiary
2. Partial Shipments/Drawings: Include when specifying whether partial shipments or drawings are allowed
3. Transhipment Terms: Include when there are specific requirements regarding transhipment
4. Insurance Requirements: Include when specific insurance coverage needs to be specified
5. Special Conditions: Include when there are additional terms or conditions specific to the transaction
6. Assignment of Proceeds: Include when the right to assign proceeds needs to be addressed
7. Back-to-Back Provisions: Include when the credit may be used as support for another letter of credit
1. Schedule of Documents: Detailed list and description of required documents and their specifications
2. Schedule of Goods: Detailed description of the goods or services covered by the letter of credit
3. Schedule of Prices: Breakdown of prices and quantities if applicable
4. Banking Instructions: Specific instructions for handling documents and payments
5. UCP 600 Exceptions: List of any exceptions to UCP 600 rules that apply to this credit
Relevant legal definitions
Clauses
Relevant Industries
Banking & Financial Services
International Trade
Import/Export
Manufacturing
Retail
Wholesale
Shipping & Logistics
Commodities Trading
Agriculture
Technology & Electronics
Textiles & Garments
Construction & Engineering
Relevant Teams
Trade Finance
Risk Management
International Banking
Treasury
Commercial Banking
Legal
Compliance
Credit Analysis
Operations
Documentary Credits
Global Transaction Banking
Corporate Banking
Relevant Roles
Trade Finance Manager
Credit Risk Officer
International Banking Manager
Treasury Manager
Import/Export Manager
Trade Operations Officer
Documentary Credits Specialist
Commercial Banking Officer
Chief Financial Officer
Finance Director
Procurement Manager
Supply Chain Manager
Legal Counsel
Compliance Officer
Banking Relationship Manager
Find the exact document you need
Private Money Lending Contract
A Hong Kong law-governed agreement establishing terms and conditions for private money lending, compliant with the Money Lenders Ordinance.
Download
Loan Contract Document
A Hong Kong law-governed agreement establishing terms and conditions for lending arrangements, including loan amount, interest, repayment terms, and parties' obligations.
Download
Interim Employment Contract
Hong Kong law-governed contract for temporary employment arrangements, compliant with local employment legislation.
Download
Deed Of Sale With Assumption Of Mortgage
A Hong Kong law-governed deed that combines property sale terms with the transfer of existing mortgage obligations from seller to buyer.
Download
Employee Endorsement Letter
A Hong Kong-compliant formal document that confirms and legally binds changes to existing employment terms between an employer and employee.
Download
Borrowing Agreement
A Hong Kong law-governed agreement establishing terms and conditions for a loan between lender and borrower, including loan amount, interest, repayment terms, and parties' obligations.
Download
Deed Of Sale Transfer Of Rights Ownership And Obligations
A Hong Kong law-governed deed that formally documents and effects the transfer of rights, ownership, and obligations between parties.
Download
Temporary Layoff Letter
A Hong Kong-compliant formal notice implementing a temporary suspension of work duties while maintaining the employment relationship.
Download
Loan Agreement With Interest
A Hong Kong law-governed agreement establishing terms for a loan with interest, including disbursement, repayment, and security provisions.
Download
Loan Agreement Between Companies
A Hong Kong law-governed agreement setting out terms and conditions for a corporate loan between two companies, including loan amount, interest, repayment terms, and security arrangements.
Download
Limited Partnership Subscription Agreement
A Hong Kong-governed agreement detailing the terms and conditions for an investor's subscription to a limited partnership fund, including capital commitments and regulatory compliance requirements.
Download
Peer Review 360 Degree Feedback
Hong Kong-compliant agreement for implementing 360-degree peer review feedback processes, ensuring legal and structured performance evaluation.
Download
Letter Of Credit Fee
A Hong Kong-governed banking document that establishes the fee structure and terms for letter of credit services between a bank and its client.
Download
Car Parking Sale Agreement
A Hong Kong law-governed agreement for the sale and purchase of a car parking space, detailing transaction terms and ensuring legal transfer of ownership.
Download
Bilateral Investment Agreement
A Hong Kong law-governed agreement establishing investment terms and protections between two parties, with comprehensive provisions for investment management and dispute resolution.
Download
Debt Agreement Contract
A Hong Kong law-governed agreement establishing terms and conditions for a lending relationship, including loan amount, interest, repayment terms, and security arrangements.
Download
Personal Liability Waiver
A Hong Kong law-governed liability waiver document that enables parties to release claims against service providers or activity organizers while maintaining compliance with local legislation.
Download
Parent Legal Guardian Consent Form
A Hong Kong law-compliant consent form for parents/legal guardians to authorize activities or services involving their minor children.
Download
On Hire Labour Agreement
A Hong Kong law-governed agreement establishing employment terms between a labor hire company, worker, and host company for temporary or contract-based employment arrangements.
Download
Overfacility Agreement
A Hong Kong law-governed agreement setting out terms for exceeding normal credit facility limits, including utilization conditions, pricing, and security arrangements.
Download
Simple Month To Month Lease Agreement
A Hong Kong-governed monthly lease agreement establishing flexible rental terms between landlord and tenant with standard termination notice periods.
Download
Loan Note
A Hong Kong law-governed debt instrument documenting loan terms, repayment obligations, and security arrangements between lender and borrower.
Download
Loan Agreement With Guarantor
A Hong Kong law-governed agreement establishing a loan arrangement with third-party guarantee support, compliant with local lending regulations.
Download
Internal Invoice
A Hong Kong-compliant internal billing document used for recording and tracking inter-departmental or inter-entity transactions within an organization.
Download
Credit Invoice
A Hong Kong-compliant document that combines an invoice with credit terms, detailing payment obligations and credit conditions under Hong Kong law.
Download
Warehouse Lease Agreement
A Hong Kong-governed agreement establishing terms and conditions for warehouse property leasing, including operational requirements and safety standards.
Download
Short Term License Agreement
A Hong Kong-law governed agreement granting temporary permission to use property, space, equipment, or rights, establishing key terms and conditions for short-term arrangements.
Download
Secured Letter Of Credit
A Hong Kong law-governed financial instrument combining a traditional letter of credit with security arrangements, providing enhanced protection through collateral pledging while following UCP 600 and local regulations.
Download
Paycheck Direct Deposit Form
Hong Kong-compliant form for setting up employee salary direct deposit arrangements.
Download
Loan For Use Agreement
A Hong Kong-governed agreement establishing terms for the temporary, free use of property or equipment, defining rights and obligations under Hong Kong law.
Download
Loan Facility Letter
A Hong Kong law-governed document setting out terms and conditions for lending facilities, serving as both an offer letter and binding agreement when accepted.
Download
Loan Agreement Term Sheet
A preliminary document outlining key terms and conditions for a proposed loan facility under Hong Kong law and banking regulations.
Download
Non Fixed Term Employment Contract
A Hong Kong law-governed permanent employment contract establishing terms and conditions for ongoing employment relationships.
Download
International License Agreement
A Hong Kong law-governed agreement establishing terms for international licensing of intellectual property rights, technology, or proprietary information between parties from different jurisdictions.
Download
Intercompany Reimbursement Agreement
Hong Kong law-governed agreement establishing framework for intercompany expense reimbursements, including compliance with local transfer pricing regulations.
Download
Inter Corporate Deposit Agreement
A Hong Kong law-governed agreement establishing terms for corporate-to-corporate deposit arrangements, including deposit terms, interest, and repayment conditions.
Download
Global SLA
A Hong Kong law-governed global service level agreement defining cross-border service delivery standards and performance metrics.
Download
Forfeit Deposit Letter
A Hong Kong law-governed formal notice declaring the forfeiture of a deposit due to contract breach or specified conditions.
Download
Family Lease Agreement
A Hong Kong-governed lease agreement for residential property rental between family members, establishing legal rights and obligations while considering familial relationships.
Download
Debt Acknowledgement Form Iou
A Hong Kong law-governed document that formally acknowledges a debt obligation and its repayment terms between parties.
Download
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)