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Evergreen Letter Of Credit for Switzerland

Evergreen Letter Of Credit Template for Switzerland

A Swiss law-governed Evergreen Letter of Credit is a specialized banking instrument that provides an automatically renewing guarantee of payment issued by a bank on behalf of a buyer (applicant) to a seller (beneficiary). Operating under Swiss banking regulations and the Swiss Code of Obligations, this document establishes a continuous financial commitment that automatically extends for successive periods unless specific notice of non-renewal is given. It incorporates both domestic Swiss banking requirements and international banking practices, particularly the UCP 600 rules, while providing the security of Switzerland's well-established financial regulatory framework.

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What is a Evergreen Letter Of Credit?

The Evergreen Letter of Credit is a sophisticated banking instrument used in situations requiring long-term, continuous payment security, particularly in international trade and ongoing commercial relationships. This document, governed by Swiss law, combines the stability of Switzerland's banking regulations with international banking practices to create a self-renewing payment guarantee. It automatically extends for successive periods without requiring formal amendments, making it particularly suitable for recurring transactions or long-term supply contracts. The document includes detailed provisions for the automatic renewal mechanism, drawing conditions, and termination procedures, while ensuring compliance with Swiss banking regulations and the UCP 600 rules. It provides essential security for beneficiaries while giving applicants flexibility through structured non-renewal options.

What sections should be included in a Evergreen Letter Of Credit?

1. Letter Header and Date: Formal letterhead of the issuing bank, date of issuance, and LC reference number

2. Applicant Details: Full legal name and address of the party requesting the Letter of Credit

3. Beneficiary Details: Full legal name and address of the party in whose favor the Letter of Credit is issued

4. Credit Amount and Currency: Specification of the maximum amount and currency of the Letter of Credit

5. Automatic Renewal Clause: Specific terms of the evergreen feature, including renewal periods and conditions

6. Expiry Mechanism: Details of how and when the LC can be terminated, including notice periods for non-renewal

7. Drawing Terms and Conditions: Specific conditions and documentation required for drawing under the LC

8. Governing Law and Jurisdiction: Clear statement of Swiss law as governing law and relevant jurisdiction

9. Bank's Undertaking: The bank's commitment and obligations under the Letter of Credit

10. Authorization and Signatures: Official bank signatures and authorization details

What sections are optional to include in a Evergreen Letter Of Credit?

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

2. Partial Drawings: Include when multiple partial drawings are to be permitted

3. Special Payment Conditions: Include when specific payment terms or conditions apply

4. Force Majeure Provisions: Include when specific force majeure terms need to be addressed

5. Anti-Money Laundering Declarations: Include when required by specific regulatory requirements or bank policies

6. Electronic Presentation Terms: Include when electronic presentation of documents is permitted

What schedules should be included in a Evergreen Letter Of Credit?

1. Schedule A - Required Documents: Detailed list of documents required for drawing under the LC

2. Schedule B - Drawing Certificate Format: Standard format for drawing certificates to be presented

3. Schedule C - Notice Forms: Standard forms for various notices (renewal, non-renewal, amendment)

4. Appendix 1 - Fee Schedule: Detailed breakdown of all applicable fees and charges

5. Appendix 2 - Bank Contact Details: List of relevant bank contacts and departments for various purposes

6. Appendix 3 - Document Presentation Guidelines: Detailed guidelines for document presentation and examination

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

Import/Export

Manufacturing

Commodities Trading

Retail

Energy

Construction

Shipping and Logistics

Agriculture

Relevant Teams

Legal

Finance

Treasury

Trade Operations

Risk Management

Compliance

International Trade

Banking Operations

Commercial Operations

Credit Administration

Relevant Roles

Trade Finance Manager

Chief Financial Officer

Treasury Manager

Import/Export Manager

Banking Relationship Manager

Documentary Credits Specialist

Legal Counsel

Compliance Officer

Risk Manager

Finance Director

Trade Operations Manager

Commercial Director

Banking Operations Manager

International Trade Specialist

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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