The LC Issuance document serves as a crucial instrument in international trade finance, providing security and payment assurance to parties involved in cross-border transactions. This document type is specifically designed to comply with Philippine banking regulations, including the General Banking Law of 2000 and BSP Circular No. 1028, while adhering to international UCP 600 standards. When issuing an LC, this document outlines the bank's commitment to pay, specifies required documentation, and establishes conditions for payment. It is particularly vital for Philippine businesses engaged in international trade, offering protection to both importers and exporters by ensuring that payment will be made only upon presentation of compliant documents. The LC Issuance document includes specific terms, conditions, and requirements that must be met before payment is released, thereby minimizing risks for all parties involved in the transaction.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Ƶ's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
1. Bank Details: Full details of the issuing bank including name, branch, and contact information
2. LC Number and Type: Unique LC reference number and specification of LC type (irrevocable, confirmed, etc.)
3. Applicant Information: Complete details of the applicant/buyer including name, address, and contact information
4. Beneficiary Information: Complete details of the beneficiary/seller including name, address, and contact information
5. Currency and Amount: LC amount in figures and words, and currency specification
6. Validity and Expiry: Issue date, expiry date, and place of expiry
7. Shipment Terms: Latest shipment date, partial shipments, transhipment provisions
8. Document Requirements: List of required documents for LC negotiation
9. Payment Terms: Payment conditions, sight/usance period, negotiation instructions
10. Goods Description: Detailed description of goods/services covered by the LC
11. Special Conditions: Any additional terms, conditions, or instructions specific to this LC
1. Reimbursement Instructions: Include when LC involves a reimbursing bank - details of reimbursement arrangements
2. Confirmation Instructions: Include when LC requires confirmation - details for confirming bank
3. Transfer Conditions: Include when LC is transferable - conditions and procedures for transfer
4. Back-to-Back Provisions: Include for back-to-back LCs - linking conditions to the master LC
5. Red Clause Provisions: Include for red clause LCs - advance payment terms and conditions
6. Green Clause Provisions: Include for green clause LCs - warehouse storage and advance payment terms
1. Schedule A - Document Requirements: Detailed checklist of required documents and their specifications
2. Schedule B - Goods Specification: Detailed technical specifications of goods/services covered by the LC
3. Schedule C - Banking Charges: Breakdown of all applicable banking charges and commission
4. Schedule D - Shipping Terms: Detailed shipping instructions and Incoterms
5. Appendix 1 - UCP 600 Disclaimer: Standard UCP 600 disclaimers and applicable articles
6. Appendix 2 - Amendment Format: Standard format for future amendments to the LC
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
International Trade
Import/Export
Manufacturing
Retail
Commodities Trading
Shipping and Logistics
Agriculture
Mining
Textiles
Electronics
Construction Materials
Food and Beverage
Relevant Teams
Trade Finance
International Banking
Documentary Credits
Compliance
Risk Management
Treasury
Operations
Legal
International Trade Operations
Credit Administration
Global Transaction Services
Trade Services
Relevant Roles
Trade Finance Manager
International Trade Specialist
Letter of Credit Officer
Banking Operations Manager
Import/Export Manager
Treasury Manager
Compliance Officer
Documentary Credits Specialist
Trade Operations Officer
Financial Controller
Supply Chain Manager
Procurement Manager
Chief Financial Officer
International Business Development Manager
Risk Management Officer
Find the exact document you need
SBLC Letter Of Credit
A Philippine-law governed Standby Letter of Credit that serves as a bank-issued payment guarantee, subject to Philippine banking regulations and international standards.
find out more
Credit Limit Increase Request Letter
A formal letter requesting a credit card limit increase in the Philippines, complying with local banking regulations and including essential financial information for assessment.
find out more
Revocable Lc
A Philippine-governed banking instrument providing a revocable payment guarantee in international trade, subject to Philippine banking regulations and UCP 600.
find out more
Letter Of Credit For Services
A Philippine-compliant banking instrument guaranteeing payment for services upon completion and documentation, regulated by BSP and following UCP 600 guidelines.
find out more
Lc Facility
A Philippine law-governed agreement establishing terms for a bank to issue letters of credit, detailing facility limits, procedures, and party obligations.
find out more
Letter Of Credit Limit
A Philippine-law governed agreement establishing a revolving facility for issuing Letters of Credit up to an approved limit, setting out terms, conditions, and security requirements.
find out more
SBLC As Collateral
Philippine law-governed agreement for using a Standby Letter of Credit as collateral security, compliant with BSP regulations and international banking practices.
find out more
Irrevocable Unconfirmed Letter Of Credit
A Philippine law-governed irrevocable letter of credit document that represents a bank's unchangeable commitment to pay against compliant document presentation.
find out more
Lc Confirming Bank
A Philippine law-governed agreement establishing terms and conditions for a bank's confirmation of a letter of credit, detailing confirmation obligations and risk allocation.
find out more
Irrevocable Documentary Letter Of Credit
A Philippine law-governed irrevocable payment commitment from a bank to a beneficiary, subject to document compliance and UCP 600 rules.
find out more
Marginal Deposit On Letter Of Credit
A Philippine-law governed agreement establishing terms for a marginal deposit as security for a letter of credit facility.
find out more
Lease SBLC
A Philippine law-governed agreement for leasing a Standby Letter of Credit, establishing terms between SBLC provider and lessee while ensuring compliance with local banking regulations.
find out more
Direct Pay Letter Of Credit
A Philippine-law governed banking instrument that provides an irrevocable commitment for direct payment upon presentation of complying documents.
find out more
Personal Letter Of Credit
A bank-issued financial instrument under Philippine banking laws that guarantees payment to a beneficiary upon meeting specified conditions.
find out more
Lc Agreement
A Philippine-law governed agreement establishing terms for issuing and managing a Letter of Credit, compliant with local banking regulations and international practices.
find out more
Letter Of Credit Collection
A Philippine-compliant banking document that facilitates secure payment collection in international trade transactions through standardized banking procedures.
find out more
Lc Issuance
A Philippine-compliant Letter of Credit Issuance document that guarantees payment in international trade transactions, subject to Philippine banking laws and UCP 600 guidelines.
find out more
SBLC DLC
A Philippine-law governed banking instrument providing payment guarantee in international trade, compliant with local banking regulations and international conventions.
find out more
Collateral For Letter Of Credit
A Philippine law-governed agreement establishing security arrangements for a letter of credit facility, detailing collateral provisions and enforcement rights.
find out more
Cash Backed SBLC
A Philippine law-governed agreement establishing terms for a cash-backed Standby Letter of Credit, including collateral requirements and party obligations.
find out more
SBLC Transferable
A transferable Standby Letter of Credit governed by Philippine law, allowing the beneficiary to transfer their rights to receive payment under specified conditions.
find out more
SBLC Non Recourse Loan
A Philippine law-governed agreement for a non-recourse loan facility secured by a Standby Letter of Credit, detailing loan terms and SBLC enforcement mechanisms.
find out more
Loan Against Lc
Philippine law-governed agreement for loan facility secured against a Letter of Credit, detailing lending terms and security arrangements under local banking regulations.
find out more
Letter Of Credit Risk
A Philippine-jurisdiction risk assessment document for letter of credit transactions, complying with BSP regulations and international banking standards.
find out more
Letter Of Credit Fraud
A legal document for reporting and addressing Letter of Credit fraud under Philippine law, structured to meet both domestic legal requirements and international banking standards.
find out more
Letter Of Credit Fee
Philippine-compliant Letter of Credit fee agreement detailing banking charges and payment terms under BSP regulations.
find out more
Letter Of Credit Duration
A Philippine-law governed document specifying the duration terms and validity period of a Letter of Credit, combining local banking regulations with international trade practices.
find out more
Guarantee Letter Of Credit
A bank-issued financial guarantee instrument under Philippine law that provides payment assurance to beneficiaries upon fulfillment of specified conditions.
find out more
SBLC At Sight
A Philippine-law governed standby letter of credit providing immediate payment upon document presentation, combining local banking regulations with international standards.
find out more
Usance Lc Discounting
A Philippine law-governed agreement for discounting usance letters of credit, enabling exporters to obtain immediate financing against future LC payments.
find out more
Revolving SBLC
Philippine law-governed Revolving Standby Letter of Credit agreement establishing a renewable credit facility with automatic reinstatement provisions.
find out more
Payment Against Lc
A Philippine law-governed agreement establishing terms and conditions for Letter of Credit payment arrangements in international trade transactions.
find out more
Non Transferable SBLC
A Philippine law-governed Non-Transferable Standby Letter of Credit providing payment security, subject to BSP regulations and banking practices.
find out more
Non Operative SBLC
A Philippine-law governed Non-Operative Standby Letter of Credit that serves as a contingent banking guarantee, remaining inactive until specific activation conditions are met.
find out more
Credit Card Clearance Letter
An official document issued under Philippine banking regulations that confirms full settlement of credit card debt and account closure.
find out more
Transferable Lc At Sight
A Philippine-compliant banking instrument that provides for immediate payment upon document presentation, with the ability to transfer rights to other beneficiaries.
find out more
Straight Letter Of Credit
A Philippine-compliant banking instrument that provides payment security in international trade through an irrevocable undertaking by a bank to pay against compliant documents.
find out more
Small Business Letter Of Credit
A Philippine law-governed Letter of Credit document tailored for small businesses, providing payment security in international trade transactions while complying with BSP regulations and UCP 600.
find out more
Local Letter Of Credit
A Philippine bank-issued payment guarantee instrument for domestic trade transactions, governed by local banking regulations and BSP guidelines.
find out more
Letter Of Credit 30 Days
A Philippine-compliant banking instrument guaranteeing payment within 30 days of document presentation, commonly used in international trade transactions.
find out more
Installment Letter Of Credit
A Philippine law-governed Installment Letter of Credit document establishing terms for structured payment arrangements in international trade transactions.
find out more
Domestic Letter Of Credit
A Philippine-law governed banking instrument that guarantees payment in domestic trade transactions, issued by a local bank to facilitate secure trading within the Philippines.
find out more
Discrepancy Letter Of Credit
A Philippine-compliant banking document that formally communicates discrepancies found in Letter of Credit documentation and outlines required remedial actions.
find out more
Beneficiary In Letter Of Credit
A formal document under Philippine jurisdiction that establishes a beneficiary's rights and obligations in a Letter of Credit transaction, governed by local banking laws and UCP 600.
find out more
Unrestricted Letter Of Credit
A Philippine-compliant banking instrument that provides an irrevocable payment guarantee in international trade, freely negotiable with any bank.
find out more
Trade Finance Letter Of Credit
A Philippine law-governed Letter of Credit document that provides bank-guaranteed payment security in international trade transactions, subject to UCP 600 and local banking regulations.
find out more
Unconditional Letter Of Credit
A Philippine law-governed banking instrument that provides an irrevocable and unconditional payment guarantee to a beneficiary upon simple demand, without requiring additional documentation.
find out more
Transit Letter Of Credit
A Philippine-law governed banking instrument that provides payment security for international trade transactions involving goods in transit, subject to specified documentation and conditions.
find out more
Syndicated Letter Of Credit
A Philippine law-governed agreement establishing a syndicated Letter of Credit facility, detailing multi-bank participation and LC operations in compliance with local banking regulations and international practices.
find out more
Surety Backed Letter Of Credit
A Philippine law-governed financial instrument combining a Letter of Credit with surety protection, providing enhanced security for complex commercial transactions.
find out more
Structured Letter Of Credit
A Philippine law-governed banking instrument combining traditional letter of credit features with structured finance elements, used for complex international trade transactions.
find out more
Revolving Letter Of Credit
A Philippine law-governed banking agreement establishing terms for automatically renewable letters of credit facility, subject to BSP regulations and UCP 600.
find out more
Reverse Letter Of Credit
A Philippine law-governed banking instrument where the buyer provides security to the bank for payment to the seller, regulated under local banking laws and international standards.
find out more
Restricted Letter Of Credit
A Philippine-compliant banking instrument that provides a restricted payment guarantee in international trade, subject to specific conditions and transfer limitations under Philippine banking laws.
find out more
SBLC Lease Agreement
A Philippine-law governed agreement establishing terms for leasing a Standby Letter of Credit, detailing financial obligations and regulatory compliance requirements.
find out more
Outstanding Letter Of Credit
A Philippine law-governed bank guarantee document ensuring secure payment in international trade transactions, subject to document compliance and UCP 600 rules.
find out more
Operative Letter Of Credit
A Philippine-compliant banking instrument that provides an irrevocable payment commitment in international trade transactions, governed by local banking laws and UCP 600.
find out more
Non Negotiable Letter Of Credit
A banking instrument under Philippine law that provides secure payment in international trade, exclusively payable to the named beneficiary.
find out more
Letter Of Credit Negotiable Instrument
A Philippine-law governed banking instrument that guarantees payment in international trade while serving as a negotiable document under local banking regulations and UCP 600.
find out more
Letter Of Credit Loc
A Philippine-compliant Letter of Credit that guarantees payment in international trade transactions, subject to Philippine banking laws and UCP 600 guidelines.
find out more
Letter Of Credit Balance Sheet
A Philippine-compliant financial document that records and tracks the current status, transactions, and obligations of a Letter of Credit under Philippine banking regulations.
find out more
Letter Of Credit Amendment
A formal modification to an existing Letter of Credit under Philippine banking laws, allowing changes to original LC terms while maintaining compliance with local and international banking standards.
find out more
International Letter Of Credit
A bank-issued payment guarantee document under Philippine law and UCP 600, securing international trade transactions between importers and exporters.
find out more
Fixed Letter Of Credit
A banking instrument issued under Philippine law that provides an irrevocable commitment to pay a fixed amount upon presentation of compliant documents in international trade transactions.
find out more
Divisible Letter Of Credit
A Philippine-compliant banking instrument that enables partial drawings against a total credit amount, governed by local banking laws and UCP 600.
find out more
Credit Card Welcome Letter
A regulated welcome letter for new credit card holders in the Philippines, containing mandatory disclosures and card information as required by Philippine banking laws.
find out more
Credit Card Request Letter
A formal letter requesting credit card issuance from a bank in the Philippines, complying with local banking regulations and credit card laws.
find out more
Credit Note Letter
A formal business document used in the Philippines to record and communicate a reduction in a previously invoiced amount, complying with BIR regulations.
find out more
Credit Extension Letter
A formal Philippine banking document that outlines the terms and conditions of credit extension to a borrower, complying with local banking regulations and BSP guidelines.
find out more
Credit Approval Letter
A formal document issued by Philippine financial institutions confirming credit facility approval and outlining key terms and conditions under local banking regulations.
find out more
Conditional Letter Of Credit
A Philippine-law governed banking instrument that provides conditional payment guarantees in commercial transactions, subject to specific documentation and requirements under local and international banking standards.
find out more
Commercial Letter Of Credit
A bank-issued payment guarantee document under Philippine law that facilitates secure international trade transactions through documented commitment to pay.
find out more
Cancellation Of Letter Of Credit
A formal document under Philippine law used to terminate an existing letter of credit before its expiry date, following BSP regulations and UCP 600 guidelines.
find out more
Bond Letter Of Credit
A Philippine-law governed bank guarantee instrument that provides financial security for bond obligations, issued under Philippine banking regulations and BSP oversight.
find out more
Beneficiary Certificate Letter Of Credit
A formal certification document used in Philippine trade finance where the beneficiary confirms compliance with Letter of Credit terms and requests payment, governed by Philippine banking laws and UCP 600.
find out more
Bank Facilities Letter
A formal document issued by a Philippine bank outlining the terms and conditions of financial facilities offered to a borrower, governed by Philippine banking laws and BSP regulations.
find out more
Advised Letter Of Credit
A Philippine-compliant banking document where an advising bank notifies and authenticates a Letter of Credit to a beneficiary for international trade transactions.
find out more
Usance Letter Of Credit
A Philippine-compliant banking instrument providing deferred payment commitment for international trade transactions, governed by local banking laws and UCP 600.
find out more
Irrevocable At Sight Letter Of Credit
A Philippine law-governed irrevocable bank payment guarantee that ensures immediate payment upon presentation of compliant trade documents, following UCP 600 and local banking regulations.
find out more
Import Lc
A Philippine-compliant banking instrument that guarantees payment for international imports, governed by BSP regulations and international banking practices.
find out more
Credit Rejection Letter
A formal notification used in the Philippine banking sector to inform applicants about credit application rejection, compliant with local banking and consumer protection laws.
find out more
Letter For Credit Terms
A formal document used in the Philippines that establishes credit terms between parties, compliant with Philippine banking and commercial regulations.
find out more
Irrevocable Letter Of Authority
A Philippine legal document that grants irrevocable authority from a grantor to an attorney-in-fact, commonly used in business and personal transactions under Philippine law.
find out more
Bank Payment Guarantee Letter
A Philippine law-governed bank document providing payment assurance to a beneficiary in case of default by the applicant, issued under local banking regulations.
find out more
Letter Of Credit Transferable
A Philippine-compliant banking document that enables the transfer of rights under a letter of credit from the first beneficiary to a second beneficiary, subject to BSP regulations and UCP 600.
find out more
Import And Export Letter Of Credit
A Philippine-compliant banking instrument that guarantees payment in international trade transactions, subject to specified document presentation and conditions.
find out more
Lc Without Recourse
A Philippine-governed Letter of Credit Without Recourse that provides secure payment in international trade while protecting the beneficiary from recourse claims.
find out more
Credit Application Letter
A formal document used in the Philippines for requesting credit facilities from financial institutions, complying with local banking regulations and requirements.
find out more
Lc Bank Guarantee
A Philippine-law governed bank guarantee instrument combining features of letters of credit and bank guarantees, issued by banks to secure commercial transactions.
find out more
Deferred Lc
A Philippine law-governed trade finance agreement establishing terms for deferred payment under a Letter of Credit, combining local banking regulations with international standards.
find out more
Authorization Letter For ATM Card Collection
A Philippine-compliant formal letter authorizing a designated person to collect an ATM card on behalf of the account holder.
find out more
Documentary Letter Of Credit
A bank-issued payment guarantee document under Philippine law that facilitates secure international trade transactions through specified documentary requirements.
find out more
Construction Letter Of Credit
A bank-issued Construction Letter of Credit template compliant with Philippine banking and construction laws, securing payment obligations in construction projects.
find out more
Acceptance Lc
A Philippine-compliant financial instrument where a bank commits to accept and pay time drafts at maturity, facilitating deferred payment in international trade.
find out more
Lc Revocable
A Philippine-law governed revocable Letter of Credit that serves as a conditional payment guarantee in international trade, subject to modification or cancellation by the issuing bank.
find out more
Lc Non Transferable
A Philippine law-governed non-transferable Letter of Credit document that provides secure payment commitment in international trade while preventing transfer of drawing rights.
find out more
Import Letter Of Credit
A Philippine-compliant banking instrument that guarantees payment to an overseas seller on behalf of a Philippine importer, subject to specified terms and conditions.
find out more
Close Credit Card Letter
A formal request letter used in the Philippines to terminate a credit card account, complying with BSP regulations and the Credit Card Act.
find out more
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)