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Acceptance Lc for Switzerland

Acceptance Lc Template for Switzerland

An Acceptance Letter of Credit is a specialized banking instrument governed by Swiss law that provides a commitment by a bank to accept time drafts or bills of exchange drawn by the beneficiary. Under Swiss jurisdiction, this document combines elements of the Swiss Code of Obligations with international banking practices, particularly UCP 600. It serves as both a payment mechanism and a financing tool, where the accepting bank agrees to pay the beneficiary at maturity while potentially allowing the draft to be discounted before maturity. The document includes specific terms regarding acceptance, maturity, documentary requirements, and compliance with Swiss banking regulations.

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What is a Acceptance Lc?

The Acceptance Letter of Credit (LC) is a crucial trade finance instrument used in international commerce, structured under Swiss law and banking regulations. This document type is particularly relevant when sellers require both payment security and potential financing options. An Acceptance LC differs from a sight LC as it involves the bank's commitment to accept time drafts or bills of exchange, effectively creating a banker's acceptance that can be held to maturity or discounted for immediate financing. The document incorporates requirements from the Swiss Code of Obligations, Swiss Banking Act, and international banking standards like UCP 600, making it a robust instrument for cross-border trade. It's commonly used when extended payment terms are needed while providing the beneficiary with a negotiable instrument backed by bank security.

What sections should be included in a Acceptance Lc?

1. Issuing Bank Details: Full name, address, and reference numbers of the issuing bank

2. LC Number and Date: Unique identification number of the LC and date of issuance

3. Beneficiary Details: Complete name and address of the beneficiary

4. Applicant Details: Complete name and address of the applicant (buyer)

5. Credit Amount and Currency: Specification of the LC amount and currency

6. Form of Credit: Specification that this is an acceptance credit and terms of acceptance

7. Tenor Details: Maturity period and calculation method for the acceptance

8. Available With/By: Specifics of where and how the credit is available

9. Expiry Date and Place: Clear statement of when and where the credit expires

10. Documentary Requirements: List of required documents for presentation

11. Shipment Terms: Details of shipment, latest shipment date, and partial shipments

12. Presentation Period: Time period within which documents must be presented

What sections are optional to include in a Acceptance Lc?

1. Transferability Clause: Include when the LC needs to be transferable to another beneficiary

2. Confirmation Instructions: Include when confirmation from another bank is required

3. Revolving Terms: Include for revolving LCs specifying reinstatement terms

4. Red Clause: Include when advance payment provisions are required

5. Special Conditions: Include for any transaction-specific requirements or conditions

6. Banking Charges: Include when there are specific arrangements for bank charges

7. Reimbursement Instructions: Include when specific reimbursement arrangements are required

What schedules should be included in a Acceptance Lc?

1. Commercial Invoice Template: Prescribed format for the commercial invoice

2. Transport Document Requirements: Detailed specifications for required transport documents

3. Insurance Document Requirements: Specifications for insurance documentation if required

4. Draft/Bill of Exchange Format: Template for the bill of exchange to be presented

5. Authorized Signatures: List of authorized signatories and specimen signatures

6. Bank SWIFT Details: Complete banking communication details

7. Document Presentation Checklist: Checklist for required documents and their specifications

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Switzerland

Publisher

Ƶ

Document Type

Letter of Credit

Cost

Free to use
Relevant legal definitions

































Clauses



























Relevant Industries

Banking and Financial Services

International Trade

Manufacturing

Import/Export

Retail

Wholesale

Commodities Trading

Agriculture

Automotive

Electronics

Textiles

Mining

Energy

Pharmaceuticals

Chemical Industry

Relevant Teams

Trade Finance

International Banking

Credit Risk

Treasury

Import/Export

Operations

Compliance

Financial Control

Supply Chain

Legal

Documentary Credits

Transaction Banking

Corporate Banking

Relevant Roles

Trade Finance Manager

Documentary Credits Specialist

International Banking Officer

Credit Risk Manager

Treasury Manager

Import/Export Manager

Trade Operations Officer

Compliance Officer

Financial Controller

Chief Financial Officer

Banking Relationship Manager

Documentary Collections Officer

Letter of Credit Specialist

International Trade Specialist

Supply Chain Manager

Industries








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