The At Sight Letter of Credit is a fundamental trade finance instrument used when immediate payment is required upon presentation of compliant documents. This document, governed by Belgian law, serves as a secure payment method in international trade transactions, providing assurance to sellers of receiving payment and to buyers of receiving goods as specified. It incorporates requirements from Belgian banking regulations, EU financial directives, and international banking practices (UCP 600). The document is typically used in cross-border transactions where parties seek to mitigate payment risks and ensure compliance with international trade standards. It specifies all terms and conditions, including document requirements, payment terms, and bank obligations, while adhering to Belgian jurisdictional requirements.
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1. LC Number and Date: Unique identification number and issuance date of the Letter of Credit
2. Applicant Details: Full name, address and contact details of the party requesting the LC (buyer/importer)
3. Beneficiary Details: Full name, address and contact details of the party receiving the LC (seller/exporter)
4. Issuing Bank Details: Name, address, and SWIFT code of the bank issuing the LC
5. Amount and Currency: The credit amount and currency, including any tolerance levels if applicable
6. Expiry Date and Place: The final date and location for presentation of documents
7. Available With/By: Specifies where and how the credit is available (payment, acceptance, or negotiation)
8. Required Documents: Detailed list of all documents required for presentation
9. Shipment Terms: Latest shipment date, partial shipments, transhipment provisions
10. Goods Description: Brief description of goods, quantity, unit price, and trade terms
1. Advising Bank: Details of the advising bank when LC is advised through another bank
2. Confirmation Instructions: Used when confirmation is requested from another bank
3. Transfer Conditions: Include when the LC is transferable
4. Special Payment Conditions: Any specific conditions related to payment timing or method
5. Reimbursement Instructions: Include when specific reimbursement arrangements are needed between banks
6. Additional Conditions: Any special conditions or requirements specific to the transaction
1. Document Presentation Form: Standard form for presenting documents under the LC
2. Commercial Invoice Template: Prescribed format for the commercial invoice if required
3. Transport Document Requirements: Detailed specifications for acceptable transport documents
4. Bank Contact Details: Complete contact information for all banks involved in the transaction
5. Fee Schedule: Breakdown of all applicable bank charges and fees
6. Amendment Request Form: Standard form for requesting amendments to the LC
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