The Payment Terms DLC document serves as a crucial instrument in international trade transactions conducted under Indonesian jurisdiction. It is specifically designed for situations where parties require a secure, bank-mediated payment mechanism that provides assurance to both buyers and sellers in cross-border transactions. The document incorporates essential elements required by Bank Indonesia regulations, including mandatory reporting requirements, currency control provisions, and compliance with local banking regulations. This Payment Terms DLC agreement is particularly vital for Indonesian companies engaged in international trade, providing detailed specifications for document presentation, payment procedures, and bank obligations. It ensures alignment with both Indonesian banking laws and international banking practices, particularly the UCP 600 guidelines, while addressing specific local regulatory requirements for foreign exchange transactions and international payments.
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1. Parties: Identification of all parties involved in the DLC transaction, including the applicant (buyer), beneficiary (seller), issuing bank, and advising/confirming bank if applicable
2. Background: Context of the underlying commercial transaction and purpose of the DLC arrangement
3. Definitions: Detailed definitions of terms used throughout the document, including banking, trade, and technical terms
4. DLC Terms and Conditions: Core terms including credit amount, currency, expiry date, and place of expiry
5. Document Requirements: Specific list of required documents for DLC presentation and their characteristics
6. Payment Terms: Detailed payment conditions, timing, and method of payment execution
7. Bank Obligations: Responsibilities and obligations of all banking parties involved
8. Presentation Requirements: Rules and procedures for document presentation and examination
9. Discrepancy Handling: Procedures for handling documentary discrepancies and resolution process
10. Governing Law and Jurisdiction: Specification of Indonesian law as governing law and jurisdiction details
11. Notices: Communication procedures and contact details for all parties
12. Force Majeure: Provisions for unforeseen circumstances affecting DLC execution
1. Confirmation Requirements: Include when DLC requires confirmation from another bank
2. Transfer Rights: Include when the DLC needs to be transferable to second beneficiaries
3. Back-to-Back Arrangements: Include for complex trade transactions involving intermediate parties
4. Foreign Exchange Provisions: Include when currency conversion or hedging arrangements are required
5. Insurance Requirements: Include when specific insurance coverage needs to be detailed
6. Sanctions Compliance: Include when transactions involve international trade requiring specific compliance measures
7. Electronic Presentation: Include when allowing for electronic presentation of documents
1. Schedule 1 - Document Checklist: Detailed checklist of all required documents and their specifications
2. Schedule 2 - Fee Schedule: Breakdown of all banking and processing fees applicable to the DLC
3. Schedule 3 - Timeline and Critical Dates: Key dates and deadlines for document presentation and payment
4. Schedule 4 - Bank Details: Complete banking information for all parties involved
5. Appendix A - Standard Document Formats: Templates for required documents and forms
6. Appendix B - UCP 600 Compliance Checklist: Checklist ensuring compliance with UCP 600 requirements
7. Appendix C - Bank Indonesia Reporting Forms: Required forms for regulatory compliance with Bank Indonesia
8. Appendix D - Communication Protocols: Detailed procedures for communications between parties
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
International Trade
Manufacturing
Agriculture and Commodities
Mining and Resources
Retail and Consumer Goods
Energy and Utilities
Textiles and Garments
Technology and Electronics
Automotive
Chemical and Pharmaceuticals
Construction and Infrastructure
Relevant Teams
Trade Finance
International Banking
Treasury
Legal
Compliance
Risk Management
Finance
Procurement
International Sales
Supply Chain
Operations
Documentary Credits
Banking Relations
Relevant Roles
Trade Finance Manager
International Banking Officer
Treasury Manager
Chief Financial Officer
Finance Director
Import/Export Manager
Trade Operations Manager
Compliance Officer
Legal Counsel
Risk Manager
Documentary Credits Specialist
Banking Relations Manager
Supply Chain Manager
Procurement Manager
International Sales Manager
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