The Advised Letter of Credit is a crucial document in international trade finance under Pakistani jurisdiction, utilized when a bank in Pakistan acts as an advising bank to authenticate and forward a letter of credit issued by a foreign bank to a Pakistani beneficiary (or vice versa). This document type is essential for businesses engaged in cross-border trade, providing security and payment assurance to both importers and exporters. The document must comply with Pakistani banking regulations, particularly the Banking Companies Ordinance 1962 and State Bank of Pakistan directives, while also adhering to international banking practices and UCP 600 guidelines. It includes detailed specifications about the transaction, payment terms, required documentation, and obligations of all parties involved.
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1. Letter Reference and Date: Unique LC reference number and issuance date
2. Advising Bank Details: Complete details of the bank advising the LC
3. Issuing Bank Details: Complete details of the bank issuing the LC
4. Beneficiary Details: Full name and address of the beneficiary (seller/exporter)
5. Applicant Details: Full name and address of the applicant (buyer/importer)
6. Credit Amount and Currency: Specification of the LC amount and currency
7. Form of Credit: Whether the credit is irrevocable or confirmed
8. Expiry Date and Place: Validity period and location for document presentation
9. Shipment Terms: Latest shipment date and delivery terms
10. Payment Terms: Specification of when and how payment will be made
11. Required Documents: List of documents required for LC presentation
12. Goods Description: Detailed description of goods being traded
1. Transferability Clause: Include when the LC needs to be transferable to another beneficiary
2. Partial Shipments: Include when specifying whether partial shipments are allowed or prohibited
3. Transhipment: Include when specifying whether transhipment is allowed or prohibited
4. Insurance Coverage: Include when specific insurance requirements need to be detailed
5. Special Conditions: Include when there are additional terms or conditions specific to the transaction
6. Back-to-Back LC Terms: Include when the LC is part of a back-to-back LC arrangement
1. Commercial Invoice Template: Standard format for the commercial invoice required under the LC
2. Packing List Requirements: Detailed specifications for the packing list
3. Transport Document Requirements: Specific requirements for bills of lading or other transport documents
4. Technical Specifications: Detailed technical specifications of the goods
5. Inspection Certificate Requirements: Format and requirements for inspection certificates
6. Bank Draft Template: Standard format for any required bank drafts
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
International Trade
Manufacturing
Agriculture and Food Processing
Textiles and Garments
Pharmaceuticals
Automotive
Electronics
Construction Materials
Chemical Industry
Energy and Resources
Wholesale and Distribution
Relevant Teams
Trade Finance
International Banking
Compliance
Legal
Treasury
Risk Management
Documentary Credits
Trade Operations
Financial Control
Supply Chain
Procurement
Export Operations
Import Operations
Relevant Roles
Trade Finance Manager
Letter of Credit Officer
International Banking Manager
Compliance Officer
Import Manager
Export Manager
Treasury Manager
Documentary Credits Specialist
Trade Operations Manager
Chief Financial Officer
Finance Director
Banking Relationship Manager
Risk Management Officer
International Trade Specialist
Supply Chain Manager
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