An Advised Letter of Credit is a crucial document in international trade finance, particularly when operating under German jurisdiction. It is used when a bank (the advising bank) verifies the authenticity of a Letter of Credit issued by a foreign bank and communicates it to the beneficiary, typically a seller or exporter. The document is essential when parties seek additional security in international transactions while ensuring compliance with German banking regulations, the UCP 600, and EU financial rules. It contains detailed specifications about payment conditions, required documentation, shipping terms, and compliance requirements. This type of document is particularly relevant when German companies or banks are involved in international trade transactions, either as the advising bank or when the beneficiary is based in Germany.
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1. Letter Reference Details: Including date, reference number, and bank identification details
2. Advising Bank Details: Full name and address of the advising bank
3. Beneficiary Details: Complete name and address of the beneficiary
4. Issuing Bank Details: Complete name and address of the issuing bank
5. Letter of Credit Number: Unique identification number of the Letter of Credit
6. Credit Amount and Currency: Specification of the credit amount and currency
7. Form of Documentary Credit: Specification that this is an irrevocable documentary credit
8. Expiry Details: Date and place of expiry
9. Document Presentation Terms: Period for presentation and required documents
10. Payment Terms: Specification of payment terms and conditions
11. Shipping Terms: Details of shipment, latest shipment date, and partial shipments
12. Document Requirements: List of required documents and their specifications
13. Special Conditions: Any additional terms or special conditions
14. Applicable Rules: Reference to UCP 600 and other applicable rules
1. Transfer Terms: Include when the Letter of Credit is transferable
2. Back-to-Back Provisions: Include when this is a back-to-back Letter of Credit
3. Confirmation Instructions: Include when confirmation is requested or prohibited
4. Revolving Credit Terms: Include for revolving Letters of Credit
5. Red Clause Provisions: Include when advance payment provisions are required
6. Green Clause Provisions: Include when storage-related advance provisions are needed
1. Schedule A - Document Requirements: Detailed list and specifications of all required documents
2. Schedule B - Payment Schedule: If payments are to be made in installments or against specific milestones
3. Schedule C - Shipping Schedule: If multiple shipments are involved with specific dates
4. Appendix 1 - Standard Banking Forms: Required banking forms for document presentation
5. Appendix 2 - Special Instructions: Any special instructions for document handling or presentation
6. Appendix 3 - Fee Schedule: Detailed breakdown of banking charges and fees
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
International Trade
Manufacturing
Import/Export
Retail
Wholesale
Commodities Trading
Automotive
Electronics
Textiles
Chemical Industry
Agriculture
Mining
Energy
Pharmaceuticals
Relevant Teams
Trade Finance
International Banking
Documentary Credits
Legal
Compliance
Risk Management
Treasury
Financial Operations
International Sales
Procurement
Supply Chain
Credit Administration
Banking Operations
Relevant Roles
Trade Finance Manager
International Banking Officer
Documentary Credits Specialist
Export Finance Manager
Import Finance Manager
Trade Operations Manager
Compliance Officer
Credit Risk Manager
International Trade Specialist
Banking Relationship Manager
Treasury Manager
Chief Financial Officer
Finance Director
International Sales Manager
Procurement Manager
Supply Chain Manager
Legal Counsel
Banking Operations Manager
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