The Beneficiary Certificate Letter of Credit is a crucial document in international trade finance transactions under Indonesian jurisdiction. It is required when a beneficiary (usually an exporter) needs to certify that they have fully complied with all terms and conditions specified in a Letter of Credit. The document becomes necessary during the presentation of documents for payment under a Letter of Credit, typically after goods have been shipped or services rendered. The certificate must conform to Indonesian banking regulations, particularly Bank Indonesia Regulation No. 5/11/PBI/2003 and Law No. 7 of 1992 (as amended), while also adhering to international UCP 600 standards. It contains essential declarations about document authenticity, shipment details, and compliance with LC terms, serving as a key component in the documentation chain that triggers payment under the Letter of Credit mechanism.
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1. Letter of Credit Reference Details: Specification of the LC number, issuing bank, and date of issuance
2. Beneficiary Information: Full legal name and address of the beneficiary making the certification
3. Transaction Details: Reference to the underlying commercial transaction, including contract numbers and dates
4. Compliance Declaration: Explicit statement that all terms and conditions of the Letter of Credit have been complied with
5. Document Listing: Enumeration of all documents being presented with the certificate
6. Shipment Certification: Confirmation of shipment details matching LC requirements
7. Authenticity Statement: Declaration that all presented documents are authentic and accurate
8. Signature Block: Area for authorized signature, name, title, and date
1. Partial Shipment Declaration: Required when the LC involves partial shipments, stating which portion this certificate covers
2. Third Party Documents Declaration: Required when any documents are issued by third parties, confirming their authenticity
3. Discrepancy Notice: Used when there are minor discrepancies that need to be declared, with confirmation of acceptance
4. Transfer Details: Required when the LC is transferred, including details of the first beneficiary's transfer
5. Clean On Board Declaration: Specific declaration about clean on board transport documents when required by LC terms
1. Document Checklist: Detailed checklist of all required documents as per LC terms and their compliance status
2. Shipping Details Schedule: Detailed breakdown of shipping information including dates, vessel names, ports, etc.
3. Commercial Invoice Summary: Summary of commercial invoice details matching LC requirements
4. Discrepancy Schedule: If applicable, detailed list of any discrepancies and their resolution status
Relevant legal definitions
Clauses
Relevant Industries
Banking & Financial Services
International Trade
Manufacturing
Agriculture & Food
Textiles & Garments
Mining & Resources
Consumer Goods
Industrial Equipment
Electronics & Technology
Automotive
Chemical & Petrochemical
Relevant Teams
Trade Finance
International Banking
Export Operations
Documentary Credits
Compliance
Treasury
Legal
Trade Operations
Banking Operations
Risk Management
Relevant Roles
Trade Finance Manager
Export Manager
Documentary Credit Specialist
International Banking Officer
Compliance Officer
Trade Operations Manager
Letter of Credit Specialist
Banking Relationship Manager
Chief Financial Officer
Treasury Manager
International Trade Specialist
Banking Operations Manager
Export Documentation Officer
Trade Finance Analyst
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