The Payment Terms SBLC document is essential for international trade and financial transactions under Indonesian law, providing a secure payment mechanism backed by bank guarantees. It is typically used when parties require a reliable payment security instrument, particularly in cross-border transactions where the beneficiary seeks assurance of payment upon the occurrence of specified events or conditions. The document incorporates both Indonesian banking regulations and international banking practices, ensuring compliance with local legal requirements while maintaining international standardization. This document becomes crucial in scenarios such as large commercial contracts, project financing, or performance guarantees, where the beneficiary requires a bank's commitment to pay upon presentation of stipulated documents.
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1. Parties: Identification of the issuing bank, beneficiary, and applicant
2. Background: Context of the SBLC issuance and the underlying transaction it supports
3. Definitions: Key terms used throughout the document including banking, financial, and technical terms
4. SBLC Amount and Currency: Specification of the credit amount and currency of payment
5. Term and Expiry: Validity period of the SBLC and expiration conditions
6. Payment Terms: Detailed conditions under which payment will be made, including required documentation
7. Drawing Requirements: Specific procedures and documentation required for drawing under the SBLC
8. Presentation Procedures: Process for presenting documents and making claims under the SBLC
9. Bank's Obligations: Scope and limitations of the issuing bank's obligations
10. Governing Law and Jurisdiction: Specification of Indonesian law as governing law and jurisdiction for disputes
11. Notices: Communication procedures and contact details for all parties
1. Transfer Rights: Include when the SBLC needs to be transferable to other beneficiaries
2. Counter-Indemnity: Include when specific counter-indemnity arrangements are required from the applicant
3. Foreign Exchange Provisions: Include for cross-border transactions requiring currency conversion
4. Anti-Money Laundering Compliance: Include when enhanced compliance requirements are necessary
5. Force Majeure: Include when specific force majeure provisions are required beyond standard banking practice
6. Assignment Provisions: Include when assignment rights need to be specifically addressed
7. Confirmation Requirements: Include when a confirming bank is involved in the transaction
1. Form of Demand: Standard format for making a demand under the SBLC
2. Required Documents: List and samples of all required supporting documents for drawing
3. Fee Schedule: Detailed breakdown of all applicable fees and charges
4. Communication Procedures: Detailed procedures for electronic and physical document presentation
5. Specimen Signatures: Authorized signatures for all relevant parties
6. Underlying Transaction Details: Summary of the transaction or obligation being secured by the SBLC
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
International Trade
Manufacturing
Construction
Energy and Resources
Infrastructure
Commodities Trading
Real Estate Development
Shipping and Logistics
Import/Export
Telecommunications
Relevant Teams
Legal
Finance
Treasury
Trade Finance
Risk Management
Compliance
International Banking
Credit Administration
Operations
Documentary Credits
Relevant Roles
Trade Finance Manager
Corporate Banking Officer
Chief Financial Officer
Treasury Manager
Finance Director
Commercial Banking Manager
International Trade Specialist
Risk Management Officer
Compliance Officer
Documentary Credits Manager
Legal Counsel
Finance Controller
Credit Risk Manager
Banking Operations Manager
International Business Development Manager
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