The Divisible Letter of Credit is a crucial financial instrument in international trade, particularly relevant under Swiss law given Switzerland's position as a global banking and trading hub. This document type is specifically designed for transactions where goods are shipped and paid for in multiple installments, providing flexibility while maintaining security for all parties involved. It combines the stringent requirements of Swiss banking regulations with international standards such as UCP 600, making it particularly suitable for complex international trading arrangements. The document typically includes detailed provisions for partial shipments, documentary requirements, and payment terms, while incorporating specific Swiss legal requirements regarding banking operations and international trade finance.
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1. Issuing Bank Details: Complete details of the issuing bank including name, address, SWIFT code, and reference numbers
2. Beneficiary Information: Full name and address of the beneficiary who will receive the credit
3. Applicant Information: Complete details of the applicant requesting the letter of credit
4. Credit Amount and Currency: Total value of the letter of credit and currency specification
5. Credit Type and Rules: Specification of divisible credit and applicable rules (typically UCP 600)
6. Divisibility Terms: Specific conditions and terms regarding partial shipments and drawings
7. Availability and Expiry: Where and how the credit is available, expiration date and place
8. Payment Terms: Timing and conditions of payment, including partial payment specifications
9. Required Documents: List of documents required for each drawing under the credit
10. Special Conditions: Any special terms or conditions applicable to the credit
1. Transferability Clause: Include when the credit needs to be transferable to other beneficiaries
2. Revolving Terms: Include when the credit has revolving characteristics
3. Red Clause: Include when advance payments are permitted under the credit
4. Back-to-Back Provisions: Include when the credit is part of a back-to-back arrangement
5. Green Clause: Include when warehouse storage provisions are required
6. Confirmation Instructions: Include when confirmation by another bank is required
1. Schedule A - Document Requirements: Detailed list of required documents and their specifications for each drawing
2. Schedule B - Drawing Schedule: Predetermined schedule of partial drawings if applicable
3. Schedule C - Shipping Terms: Detailed shipping requirements and schedule if applicable
4. Appendix 1 - Form of Drawing Request: Standard format for submitting drawing requests under the credit
5. Appendix 2 - Form of Transport Documents: Specified format for transport documents if required
6. Appendix 3 - Form of Commercial Invoice: Required format for commercial invoices
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking & Financial Services
International Trade
Manufacturing
Commodities Trading
Import/Export
Shipping & Logistics
Agriculture
Mining
Oil & Gas
Retail
Wholesale
Construction
Relevant Teams
Trade Finance
International Banking
Documentary Credits
Treasury
Global Transaction Banking
Risk Management
Compliance
Legal
Finance
International Trade Operations
Credit Administration
Relevant Roles
Trade Finance Manager
International Banking Officer
Documentary Credits Specialist
Treasury Manager
Import/Export Manager
Trade Operations Manager
Credit Risk Officer
Global Transaction Banking Manager
Senior Trade Finance Officer
Compliance Officer
Documentary Collections Specialist
International Trade Specialist
Banking Relationship Manager
Chief Financial Officer
Finance Director
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