The Advising Bank In Letter of Credit document is essential for international trade finance operations in Singapore. It is used when a bank acts as an advising bank to authenticate and communicate Letters of Credit to beneficiaries. This document ensures compliance with Singapore's Banking Act, MAS regulations, and international standards like UCP 600. It specifies the bank's duties in verifying authenticity, maintaining accurate records, and communicating terms, while protecting all parties' interests in the Letter of Credit transaction. The document is particularly crucial in Singapore's role as a major international trading hub, where Letters of Credit are frequently used in cross-border transactions.
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1. Bank Details: Complete details of the advising bank including registration number and address
2. Letter of Credit Reference: Unique identification number of the Letter of Credit being advised
3. Issuing Bank Details: Complete information about the bank that issued the Letter of Credit
4. Beneficiary Details: Information about the party to whom the Letter of Credit is being advised
5. Terms and Conditions: Exact replication of the Letter of Credit terms as received from the issuing bank
6. Authentication Statement: Confirmation of the authenticity of the Letter of Credit
1. Confirmation Statement: Added when the advising bank is also confirming the Letter of Credit - used when requested by issuing bank and agreed by advising bank
2. Transfer Provisions: Details about transferability of the Letter of Credit - included when the Letter of Credit is transferable
3. Special Instructions: Any specific requirements or conditions - used when there are unique requirements from issuing bank or local regulations
1. Fee Schedule: Details of applicable banking charges and fees
2. Document Checklist: List of required documents under the Letter of Credit
3. Authentication Certificate: Formal certification of Letter of Credit authenticity
4. SWIFT Message Copy: Copy of original SWIFT message received from issuing bank
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