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The Usance LC document is essential for businesses engaged in international trade under New Zealand jurisdiction, particularly when deferred payment terms are required. This document type is commonly used when importers need extended payment terms while ensuring exporters have a secure payment guarantee from a bank. The Usance Letter of Credit combines the security of a traditional LC with flexible payment terms, typically ranging from 30 to 180 days after shipment or document presentation. It must comply with both New Zealand banking regulations and international standards (UCP 600), making it a reliable instrument for cross-border trade financing. The document includes detailed specifications about the trade terms, required documentation, payment conditions, and the roles and responsibilities of all involved parties.

1. Letter Reference Details: Document reference number, date, and type of credit (Usance LC)

2. Issuing Bank Details: Complete name and address of the issuing bank

3. Beneficiary Details: Full name and address of the beneficiary (seller/exporter)

4. Applicant Details: Full name and address of the applicant (buyer/importer)

5. Credit Amount: Currency and amount of the letter of credit, including tolerance if any

6. Usance Terms: Specific payment terms including the tenor (e.g., 60 days, 90 days from bill of lading date)

7. Documents Required: Detailed list of required documents (commercial invoice, transport documents, insurance documents, etc.)

8. Goods Description: Detailed description of goods, quantity, unit price, and trade terms (Incoterms)

9. Shipment Details: Port of loading, port of discharge, latest shipment date, partial shipment/transhipment conditions

10. Presentation Period: Time period for document presentation after shipment

11. Governing Law: Specification of New Zealand law as governing law and UCP 600 application