The Letter of Credit 30 Days is a fundamental trade finance instrument used in international commerce involving Saudi Arabian entities. It provides payment security for cross-border transactions while ensuring compliance with both international banking standards and Saudi Arabian regulations. This document is typically used when a seller requires payment assurance but is willing to extend a 30-day credit period after document presentation. The LC structure must comply with Shariah principles, SAMA regulations, and UCP 600 guidelines. It includes detailed specifications for document presentation, payment terms, and banking arrangements, making it suitable for various international trade transactions where Saudi Arabian parties are involved. The document addresses key aspects such as payment obligations, document requirements, timeframes, and compliance with both local and international banking practices.
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1. Letter Details: Opening section containing date, reference number, and contact details of the issuing bank
2. Beneficiary Information: Complete details of the beneficiary including name, address, and banking information
3. Applicant Information: Complete details of the applicant including name, address, and contact information
4. Credit Amount and Currency: Specification of the LC amount and currency of payment
5. Credit Type and Form: Specification that this is a 30-day sight LC and whether it's irrevocable
6. Expiry Details: Clear statement of expiry date and place
7. Available With/By: Details of the nominated bank and method of availability
8. Shipment Terms: Including latest shipment date, partial shipments, and transhipment conditions
9. Required Documents: Comprehensive list of required documents for presentation
10. Payment Terms: Specification of 30-day payment terms and calculation method
11. Bank Charges: Allocation of banking charges between parties
12. Presentation Period: Timeframe for document presentation after shipment
1. Transfer Conditions: Include when the LC is transferable, specifying transfer terms and conditions
2. Back-to-Back Arrangements: Include when the LC allows for back-to-back credit arrangements
3. Confirmation Instructions: Include when confirmation from another bank is requested
4. Special Conditions: Include for any transaction-specific requirements or restrictions
5. Islamic Finance Compliance: Include specific declarations required for Shariah compliance
6. Insurance Requirements: Include when specific insurance arrangements are required beyond standard coverage
1. Commercial Invoice Template: Prescribed format for commercial invoice presentation
2. Transport Document Requirements: Detailed specifications for bills of lading or other transport documents
3. Document Checklist: Comprehensive list of required documents with specific requirements for each
4. Fee Schedule: Detailed breakdown of all applicable banking charges and fees
5. SAMA Compliance Declaration: Required declarations and forms for Saudi Arabian regulatory compliance
6. UCP 600 Reference Guide: Relevant articles of UCP 600 applicable to this specific LC
Relevant legal definitions
Clauses
Relevant Industries
Banking & Financial Services
International Trade
Manufacturing
Import/Export
Logistics & Transportation
Retail
Wholesale
Commodities Trading
Oil & Gas
Construction
Agricultural Products
Industrial Equipment
Consumer Goods
Islamic Banking
Relevant Teams
Trade Finance
International Banking
Corporate Banking
Legal & Compliance
Treasury
Risk Management
Operations
Documentary Credits
Islamic Banking
Trade Operations
Financial Control
Supply Chain
Procurement
Relevant Roles
Trade Finance Manager
Letter of Credit Specialist
Import/Export Manager
Treasury Manager
Compliance Officer
Financial Controller
Trade Operations Manager
Banking Relationship Manager
Chief Financial Officer
Documentary Credits Officer
International Trade Specialist
Islamic Banking Officer
Credit Risk Manager
Supply Chain Manager
Procurement Manager
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