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Advised Letter Of Credit Template for Malaysia

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Advised Letter Of Credit

"I need an Advised Letter of Credit document for a Malaysian electronics manufacturer exporting to Dubai, with a credit value of USD 2.5 million and compliance with Islamic banking principles, to be issued by March 2025."

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What is a Advised Letter Of Credit?

An Advised Letter of Credit is a crucial document in international trade finance, particularly within the Malaysian banking framework. It is used when a bank (the advising bank) in the beneficiary's country verifies the authenticity of a Letter of Credit issued by a foreign bank and advises it to the beneficiary. The document becomes necessary when parties engage in cross-border trade transactions where the beneficiary requires local bank verification of the credit's authenticity. Under Malaysian jurisdiction, these documents must comply with both domestic banking regulations and international banking practices, including the UCP 600. The advising bank's role is to confirm the apparent authenticity of the credit without taking on payment obligations, providing the beneficiary with confidence to proceed with the transaction.

What sections should be included in a Advised Letter Of Credit?

1. Letter Header and Date: Advising bank's letterhead, reference numbers, and date of issuance

2. Beneficiary Details: Complete name and address of the beneficiary receiving the advised LC

3. Issuing Bank Details: Name and address of the bank that issued the original LC

4. Letter of Credit Details: LC number, date of issuance, and currency/amount

5. Transaction Specifications: Details of the underlying commercial transaction, including goods/services description

6. Terms and Conditions: Key conditions, expiry date, and place of expiry

7. Required Documents: List of documents required for presentation

8. Shipping Terms: Latest shipment date, partial shipments, transhipment conditions

9. Payment Terms: Method and timing of payment, negotiation conditions

10. Authentication Statement: Statement confirming the authenticity of the LC

11. Disclaimer: Advising bank's role and limitation of liability

12. Closing and Signature: Authorized signature block and contact information

What sections are optional to include in a Advised Letter Of Credit?

1. Transfer Terms: Include when the LC is transferable, specifying conditions for transfer

2. Back-to-Back Arrangements: Include when there are back-to-back LC arrangements

3. Islamic Banking Compliance: Include for Shariah-compliant LCs, stating relevant principles and compliance

4. Confirmation Details: Include when the LC is confirmed by the advising bank

5. Special Instructions: Include when there are specific handling or processing requirements

6. Reimbursement Instructions: Include when special reimbursement arrangements apply

What schedules should be included in a Advised Letter Of Credit?

1. Original LC Copy: Authenticated copy of the original Letter of Credit

2. Document Checklist: Detailed checklist of required documents and their specifications

3. Fee Schedule: Breakdown of applicable banking charges and fees

4. Presentation Instructions: Detailed instructions for document presentation

5. Swift Message Copy: Copy of the SWIFT message containing the LC details

6. Amendment Form: Standard form for requesting amendments to the LC

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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Relevant Industries

Banking and Financial Services

International Trade

Manufacturing

Import/Export

Retail

Commodities

Agriculture

Construction

Energy

Telecommunications

Automotive

Textiles

Electronics

Relevant Teams

Trade Finance

International Banking

Documentary Credits

Export Finance

Compliance

Treasury

Trade Operations

Credit Analysis

Risk Management

Finance

Legal

Customer Relations

Trade Documentation

Relevant Roles

Trade Finance Manager

International Banking Officer

Documentary Credits Specialist

Export Finance Manager

Compliance Officer

Treasury Manager

Trade Operations Manager

Letter of Credit Analyst

Banking Relationship Manager

Chief Financial Officer

Finance Director

Import/Export Manager

Trade Documentation Specialist

Risk Management Officer

Credit Control Manager

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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