The LC Export Import contract is essential for businesses engaged in international trade under Indonesian jurisdiction. This document is typically used when parties seek a secure method of payment and transaction handling in cross-border trade, particularly when dealing with unfamiliar trading partners or entering new markets. The agreement incorporates both Indonesian legal requirements (including Law No. 7 of 2014 on Trade and relevant Bank Indonesia regulations) and international banking practices (UCP 600). It provides detailed specifications for payment conditions, required documentation, shipping terms, and bank obligations. The document is particularly crucial in the Indonesian context, where specific regulatory requirements must be met for foreign exchange transactions and international trade. The LC Export Import contract serves as a fundamental tool for risk mitigation in international trade, ensuring that exporters receive payment and importers receive their goods as specified.
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1. Parties: Identification of all parties involved: Applicant (Buyer/Importer), Beneficiary (Seller/Exporter), Issuing Bank, and Advising/Confirming Bank
2. Background: Context of the trade transaction, relationship between parties, and purpose of the LC arrangement
3. Definitions: Detailed definitions of technical terms, banking terminology, and trade-specific concepts used in the agreement
4. Letter of Credit Terms: Core terms including LC amount, currency, type (sight/usance), and validity period
5. Documentation Requirements: Specific documents required for LC compliance (commercial invoice, transport documents, certificates, etc.)
6. Payment Terms and Conditions: Detailed conditions for payment, including presentation period, examination period, and payment process
7. Bank Obligations and Rights: Responsibilities and rights of involved banks in processing the LC
8. Compliance Requirements: Standards for document examination and criteria for compliance
9. Shipping Terms: Requirements for shipment, including latest shipment date and partial shipments
10. Force Majeure: Provisions for unforeseen circumstances affecting contract performance
11. Governing Law and Jurisdiction: Specification of Indonesian law as governing law and jurisdiction for disputes
1. Insurance Requirements: Additional insurance requirements beyond standard coverage, used when specific risks need to be addressed
2. Bank Guarantees: Additional guarantee requirements, included when extra security is needed
3. Transferability: Terms for LC transfer rights, included when LC needs to be transferable
4. Back-to-Back LC Provisions: Included when back-to-back LC arrangements are required
5. Amendment Procedures: Specific procedures for LC amendments, included for complex transactions
6. Sanctions Compliance: Additional compliance requirements for transactions involving sensitive regions or goods
7. Dispute Resolution: Alternative dispute resolution procedures, included when specific arbitration is preferred
1. Schedule A - Product Specifications: Detailed description of goods being traded including quantity, quality, and technical specifications
2. Schedule B - Required Documents Checklist: Comprehensive list of all required documents with specific format requirements
3. Schedule C - Banking Details: Complete banking information for all parties including account details and SWIFT codes
4. Schedule D - Shipping Schedule: Detailed timeline for shipment, including key dates and delivery terms
5. Appendix 1 - UCP 600 Incorporation: Specific UCP 600 articles applicable to the transaction
6. Appendix 2 - Form of Commercial Invoice: Template for acceptable commercial invoice format
7. Appendix 3 - Form of Transport Documents: Templates for required transport documentation
8. Appendix 4 - Compliance Certificates: Templates for required compliance and origin certificates
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
International Trade
Manufacturing
Agriculture and Food
Textiles and Garments
Mining and Resources
Oil and Gas
Consumer Goods
Electronics and Technology
Automotive
Chemical Industry
Shipping and Logistics
Relevant Teams
Legal
Finance
International Trade Operations
Treasury
Compliance
Risk Management
Supply Chain
Logistics
Documentary Credits
Trade Finance
Business Development
Banking Operations
Relevant Roles
Trade Finance Manager
Export Manager
Import Manager
International Trade Specialist
Banking Relationship Manager
Documentary Credit Officer
Compliance Officer
Treasury Manager
Finance Director
Supply Chain Manager
Logistics Manager
Credit Risk Officer
International Business Development Manager
Trade Operations Manager
Legal Counsel
Documentary Collections Specialist
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