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The Negotiable Letter of Credit is a fundamental instrument in international trade finance, particularly crucial in the Indonesian market where it bridges the gap between importers and exporters while providing payment security. This document type is typically used when parties require both payment assurance and flexibility in financing arrangements, allowing the beneficiary to negotiate the letter of credit with banks other than the issuing bank. The document must comply with Bank Indonesia regulations, particularly Regulation No. 5/11/PBI/2003, while also adhering to international UCP 600 standards. It includes detailed specifications of the trade transaction, required documents, payment terms, and negotiation conditions. The negotiable nature of the instrument makes it particularly valuable for exporters who may need to access financing before the actual payment date, while providing importers with the security of document-based payment release.

1. Letter Reference Number and Date: Unique identification number and issuance date of the L/C

2. Bank Details: Complete details of the issuing bank including name, branch, and contact information

3. Applicant Information: Full details of the party requesting the L/C (typically the buyer)

4. Beneficiary Information: Complete details of the party in whose favor the L/C is issued (typically the seller)

5. Credit Amount and Currency: Specific amount and currency of the L/C, including any tolerance levels

6. Form of Credit: Specification that this is a negotiable letter of credit and its type (irrevocable, confirmed, etc.)

7. Expiry Date and Place: Clear statement of when and where the L/C expires

8. Payment Terms: Detailed terms of payment including timing and conditions

9. Required Documents: Comprehensive list of documents required for negotiation

10. Shipment Terms: Details of shipment including latest shipment date and partial shipments if allowed

11. Bank Charges: Allocation of various banking charges between parties

12. Special Conditions: Any specific conditions or requirements unique to this L/C

13. Governing Law: Statement that the L/C is governed by Indonesian law and UCP 600

14. Authentication: Official bank signatures and stamps