The LC Trade (Finance) document is essential for businesses engaged in international trade within the Indonesian jurisdiction. It is particularly crucial when dealing with new trading partners or in situations requiring secured payment methods. The document provides a bank-guaranteed payment mechanism that protects both the exporter's and importer's interests while ensuring compliance with Indonesian banking regulations and international trade practices. The LC includes detailed specifications about the transaction, required documentation, payment terms, and shipping requirements. It incorporates elements from both Indonesian banking law and international standards like UCP 600, making it a robust instrument for facilitating international trade while managing risks effectively.
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1. Issuing Bank Details: Complete details of the bank issuing the LC, including name, address, SWIFT code, and reference numbers
2. Beneficiary Information: Full details of the beneficiary (seller/exporter) including name, address, and bank account details
3. Applicant Information: Complete details of the applicant (buyer/importer) including name, address, and reference details
4. LC Amount and Currency: Specific amount of the LC and currency denomination, including any tolerance levels if applicable
5. Form of LC: Specification of LC type (irrevocable, confirmed/unconfirmed, transferable/non-transferable)
6. Expiry Date and Place: Clear statement of when and where the LC expires
7. Payment Terms: Detailed payment conditions including sight, deferred payment, or acceptance terms
8. Required Documents: Comprehensive list of all required documents for LC presentation
9. Shipment Terms: Detailed shipping requirements including latest shipment date, partial shipments, transhipment provisions
10. Presentation Period: Timeframe within which documents must be presented after shipment
1. Transferability Conditions: Used when LC is transferable, specifying conditions and procedures for transfer
2. Back-to-Back Provisions: Included when the LC may be used as collateral for another LC
3. Red Clause Provisions: Added when advance payment facilities are provided under the LC
4. Revolving Terms: Included for revolving LCs, specifying reinstatement conditions
5. Confirmation Instructions: Used when LC confirmation is requested, detailing confirmation requirements
6. Special Conditions: Any additional terms specific to the transaction or required by Indonesian regulations
1. Schedule A - Documentary Requirements: Detailed checklist of required documents with specific format and content requirements
2. Schedule B - Goods Description: Detailed description of goods, including specifications, quantity, and unit prices
3. Schedule C - Banking Charges: Breakdown of all applicable banking fees and charges
4. Appendix 1 - Standard Banking Forms: Required banking forms and formats for document presentation
5. Appendix 2 - Shipping Terms: Detailed INCOTERMS and shipping requirements
6. Appendix 3 - Compliance Certificates: Templates or requirements for necessary compliance certificates under Indonesian law
Relevant legal definitions
Clauses
Relevant Industries
Banking
International Trade
Import/Export
Manufacturing
Commodities
Retail
Agriculture
Mining
Textiles
Electronics
Chemical Industry
Automotive
Energy
Relevant Teams
Treasury
International Trade Operations
Finance
Legal
Compliance
Risk Management
Banking Operations
Supply Chain
Procurement
Documentary Credits
Corporate Banking
Relevant Roles
Trade Finance Manager
International Trade Specialist
Banking Operations Manager
Treasury Manager
Import/Export Manager
Finance Director
Compliance Officer
Documentary Credits Specialist
Trade Operations Officer
Risk Manager
Corporate Banking Officer
Chief Financial Officer
Supply Chain Manager
Procurement Manager
Legal Counsel
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