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Transferable Lc for Indonesia

Transferable Lc Template for Indonesia

A Transferable Letter of Credit (LC) under Indonesian law is a specialized banking instrument that allows the first beneficiary to transfer all or part of their rights under the LC to one or more second beneficiaries. This document, governed by Indonesian banking regulations and typically following UCP 600 guidelines, provides a secure method of payment in international trade while offering flexibility in complex trading relationships. It includes detailed provisions for transfer mechanisms, documentation requirements, and payment terms, all structured within the framework of Indonesian banking law and international banking practices.

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Transferable Lc

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What is a Transferable Lc?

The Transferable LC is a crucial document in international trade finance, particularly relevant when intermediaries or trading houses are involved in the transaction chain. This specialized form of Letter of Credit, operating under Indonesian law and banking regulations, enables the original beneficiary to transfer their rights to receive payment to one or more second beneficiaries, typically suppliers or sub-suppliers. The document incorporates essential elements including the credit amount, transfer terms, documentation requirements, and compliance with both Indonesian banking regulations and international standards such as UCP 600. It's particularly useful in transactions where the first beneficiary acts as a middleman and needs to pay their own suppliers using the same LC, making it an efficient tool for complex international trade structures.

What sections should be included in a Transferable Lc?

1. Letter of Credit Number: Unique identification number of the LC

2. Date of Issue: Date when the LC is issued

3. Issuing Bank Details: Complete name and address of the issuing bank

4. Applicant Details: Full name, address and contact information of the party requesting the LC

5. Beneficiary Details: Full name, address and contact information of the party in whose favor the LC is issued

6. Currency and Amount: The currency and maximum amount available under the LC

7. Expiry Date and Place: The expiration date and location where documents must be presented

8. Transfer Terms: Specific conditions and requirements for transferring the LC to second beneficiaries

9. Documentation Requirements: Detailed list of required documents for LC payment

10. Shipment Terms: Details of shipment including latest shipment date and partial shipments allowance

11. Payment Terms: Specification of when and how payment will be made

12. Governing Law: Statement that the LC is governed by Indonesian law and UCP 600

What sections are optional to include in a Transferable Lc?

1. Revolving Terms: Include when the LC is both transferable and revolving, specifying how the LC amount reinstates

2. Back-to-Back Provisions: Include when the LC may be used as collateral for another LC

3. Red Clause Terms: Include when advance payment provisions are required

4. Green Clause Terms: Include when warehouse storage-related advance payments are permitted

5. Confirmation Instructions: Include when confirmation by another bank is requested

6. Transfer Restrictions: Include when specific limitations on transfer are required beyond standard transfer terms

7. Special Instructions: Include when there are unique requirements or conditions for this specific LC

What schedules should be included in a Transferable Lc?

1. Schedule A - Document Requirements: Detailed checklist of all required documents and their specific requirements

2. Schedule B - Transfer Application Form: Standard form to be used when requesting transfer of the LC

3. Schedule C - Shipping Schedule: If applicable, detailed timeline for shipments and documentation

4. Appendix 1 - Bank Contact Details: Complete contact information for all banks involved

5. Appendix 2 - Fee Schedule: Detailed breakdown of all applicable banking fees and charges

6. Appendix 3 - SWIFT Formats: Standard SWIFT message formats to be used for communication

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

Indonesia

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

Shipping and Logistics

Agriculture

Mining and Resources

Textiles

Consumer Goods

Industrial Products

Energy

Relevant Teams

Trade Finance

International Banking

Letter of Credit Operations

Global Transaction Services

Trade Operations

Risk Management

Compliance

Treasury Operations

Documentary Credits

Transaction Banking

Relevant Roles

Trade Finance Manager

International Banking Officer

Letter of Credit Specialist

Export Finance Manager

Import Operations Manager

Trade Operations Officer

Credit Risk Officer

Documentary Credits Manager

Global Trade Finance Head

Banking Operations Manager

Compliance Officer

International Trade Specialist

Treasury Manager

Supply Chain Finance Manager

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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