The Issuing Bank In LC document is a fundamental instrument in international trade finance, used when a Belgian bank provides a documentary credit facility to support cross-border trade transactions. This document type is particularly relevant when Belgian importers require banking support for international purchases or when foreign exporters seek payment security through a Belgian banking institution. The Letter of Credit contains detailed specifications regarding payment conditions, document requirements, and compliance criteria, all structured within the framework of Belgian law and international banking practices (UCP 600). It becomes necessary when parties seek to mitigate trade risks, ensure payment security, and facilitate international commerce through documented bank undertakings. The document must comply with Belgian Financial Law, EU banking regulations, and international trade finance standards, while also addressing specific requirements of the underlying commercial transaction.
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1. LC Number and Date: Unique identification number of the LC and date of issuance
2. Issuing Bank Details: Complete name, address, and SWIFT code of the issuing bank
3. Applicant Details: Full name, address, and contact information of the party requesting the LC
4. Beneficiary Details: Complete name, address, and banking details of the party in whose favor the LC is issued
5. Amount and Currency: The credit amount and currency, including whether any tolerance is permitted
6. Type of Credit: Specification of whether the LC is irrevocable, confirmed, transferable, etc.
7. Expiry Date and Place: Clear statement of when and where the LC expires
8. Available With/By: Terms of availability and method of payment (sight, deferred payment, acceptance, negotiation)
9. Partial Shipments/Transhipment: Whether partial shipments or transhipment is allowed or prohibited
10. Loading/Dispatch/Taking in Charge: Place of taking in charge, dispatch, or loading and place of final destination
11. Latest Date of Shipment: Final date by which shipment must be made
12. Description of Goods/Services: Detailed description of the goods or services covered by the LC
13. Required Documents: List of all documents required for presentation
14. Presentation Period: Time period within which documents must be presented after shipment
15. Banking Charges: Specification of which party bears which banking charges
1. Confirmation Instructions: Instructions regarding confirmation when a confirmed LC is requested
2. Transfer Conditions: Specific conditions for transfer when LC is transferable
3. Back-to-Back Provisions: Terms for back-to-back LC arrangements when applicable
4. Red Clause Provisions: Terms for advance payment when LC includes a red clause
5. Revolving Credit Terms: Specifics of reinstated value and periods for revolving LCs
6. Special Conditions: Any additional terms or conditions specific to the transaction
7. Insurance Requirements: Specific insurance requirements beyond standard coverage
8. Syndication Terms: Terms for syndicated participation when multiple banks are involved
1. Schedule A - Document Requirements: Detailed list and format of required documents including any specific requirements for each document
2. Schedule B - Goods Specification: Detailed technical specifications of goods when complex products are involved
3. Schedule C - Payment Schedule: Details of installment payments or specific payment arrangements if applicable
4. Appendix 1 - SWIFT Format: Standard SWIFT message format for the LC
5. Appendix 2 - Fee Schedule: Detailed breakdown of all applicable bank charges and fees
6. Appendix 3 - Required Forms: Templates of any specific forms required for document presentation
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