The At Sight LC is a crucial trade finance instrument used in international commerce under Indonesian jurisdiction. It provides security and payment assurance to exporters while offering buyers a structured method of financing international purchases. The document becomes particularly relevant when parties seek immediate payment upon document presentation, unlike usance LCs which involve a credit period. Under Indonesian law, At Sight LCs must comply with Bank Indonesia regulations and the internationally recognized UCP 600 rules. The document typically includes comprehensive details about the transaction, including goods specifications, shipping requirements, and document presentation conditions. It's commonly used in Indonesian international trade to mitigate risks associated with cross-border transactions and ensure smooth payment processing through the banking system.
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1. LC Number and Date: Unique identification number of the LC and date of issuance
2. Issuing Bank Details: Complete name and address of the issuing bank
3. Applicant Details: Full name and address of the buyer/importer requesting the LC
4. Beneficiary Details: Full name and address of the seller/exporter in whose favor the LC is issued
5. Currency and Amount: Currency denomination and amount of the LC in both figures and words
6. Expiry Date and Place: Clear statement of when and where the LC expires
7. Available With/By: Specification of where and how the LC is available (payment, acceptance, or negotiation)
8. Partial Shipments/Transhipment: Whether partial shipments or transhipment is allowed or prohibited
9. Loading/Dispatch From/To: Ports or places of loading and discharge
10. Latest Date of Shipment: Final date by which shipment must be made
11. Goods Description: Brief description of the goods, quantity, unit price
12. Required Documents: List of documents required for presentation
13. Additional Conditions: Any special conditions or terms specific to this LC
14. Presentation Period: Time period within which documents must be presented after shipment
15. Banking Charges: Specification of which party bears which banking charges
1. Confirmation Instructions: Used when confirmation is requested from another bank
2. Reimbursement Instructions: Include when specific reimbursement arrangements are required between banks
3. Special Payment Conditions: Used when there are specific conditions or requirements for payment
4. Insurance Instructions: Required when the LC needs to specify insurance requirements
5. Pre-shipment Inspection: Include when inspection before shipment is required
6. Transfer Conditions: Used when the LC is transferable
7. Back-to-Back Provisions: Include when the LC can be used as collateral for another LC
1. Commercial Invoice Template: Standard format for the commercial invoice required under the LC
2. Packing List Format: Prescribed format for the packing list
3. Transport Document Requirements: Detailed specifications for bills of lading or other transport documents
4. Bank Draft Format: Standard format for drafts to be drawn under the LC
5. Document Presentation Checklist: Checklist of all required documents and their specifications
6. UCP 600 Reference Guide: Quick reference guide to relevant UCP 600 articles
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
International Trade
Manufacturing
Agriculture and Food
Textiles and Garments
Electronics and Technology
Mining and Resources
Oil and Gas
Consumer Goods
Automotive
Chemical Industry
Pharmaceuticals
Relevant Teams
Trade Finance
International Banking
Documentary Credits
Export Operations
Import Operations
Risk Management
Compliance
Treasury
Legal
Credit Administration
Trade Operations
Customer Relations
Relevant Roles
Trade Finance Manager
International Banking Officer
Letter of Credit Specialist
Export Finance Manager
Import Operations Manager
Trade Operations Officer
Documentary Credit Manager
Compliance Officer
Trade Finance Sales Officer
Banking Relationship Manager
International Trade Specialist
Treasury Manager
Credit Risk Officer
Trade Documentation Specialist
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