The Letter of Credit 30 Days is a fundamental trade finance instrument used in international commerce involving South African parties. It serves as a secure payment mechanism where an issuing bank commits to pay the beneficiary within 30 days of receiving compliant documents, effectively managing risk for both importers and exporters. This document type is particularly relevant in the South African context, where it must comply with both the Banks Act 94 of 1990 and Exchange Control Regulations, while also adhering to international standards such as UCP 600. It's commonly used when parties seek a balance between immediate payment and extended credit terms, providing financial security while facilitating trade flow. The document includes detailed specifications of the transaction, required documentation, and payment conditions, making it essential for businesses engaged in international trade with South African counterparties.
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: Issuing bank's complete details and reference numbers
2. Date and Place of Issue: When and where the Letter of Credit was issued
3. LC Number: Unique identification number of the Letter of Credit
4. Applicant Details: Full name and address of the party requesting the Letter of Credit (buyer)
5. Beneficiary Details: Full name and address of the party receiving the Letter of Credit (seller)
6. Currency and Amount: Specification of the currency and exact amount of the Letter of Credit
7. Expiry Date: 30-day validity period clearly stated with specific expiration date
8. Payment Terms: Specification of the 30-day payment terms and conditions
9. Required Documents: List of documents required for payment (shipping documents, invoices, etc.)
10. Shipment Terms: Details of shipment including latest shipment date and destination
11. Presentation Period: Time period within which documents must be presented after shipment
12. Governing Law: Statement that South African law governs the Letter of Credit
1. Partial Shipments: Include when partial shipments are allowed or prohibited
2. Transhipment: Include when transhipment is allowed or prohibited
3. Insurance Coverage: Include when specific insurance requirements need to be detailed
4. Special Conditions: Include when there are additional terms or conditions specific to the transaction
5. Transfer Provisions: Include when the Letter of Credit is transferable
6. Back-to-Back Provisions: Include when back-to-back LC arrangements are permitted
7. Confirmation Instructions: Include when confirmation by another bank is required
1. Schedule A - Document Requirements: Detailed list and format of all required documents for payment
2. Schedule B - Goods Description: Detailed description of goods being traded including specifications
3. Schedule C - Payment Schedule: Detailed breakdown of payment terms and timing
4. Appendix 1 - Standard Banking Forms: Required banking forms and formats for document presentation
5. Appendix 2 - UCP 600 References: Specific UCP 600 articles applicable to this Letter of Credit
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
International Trade
Manufacturing
Agriculture and Agribusiness
Mining and Resources
Retail
Wholesale Distribution
Logistics and Transportation
Import/Export
Commodities Trading
Textiles and Clothing
Electronics and Technology
Relevant Teams
Finance
Treasury
International Trade
Procurement
Supply Chain
Legal
Risk Management
Trade Operations
Documentary Credits
Compliance
Commercial Banking
Relevant Roles
Trade Finance Manager
Import/Export Manager
Treasury Manager
Financial Controller
Chief Financial Officer
Banking Relationship Manager
Documentary Credits Specialist
International Trade Specialist
Procurement Manager
Supply Chain Manager
Credit Risk Manager
Commercial Banking Officer
Trade Operations Manager
Finance Director
Compliance Officer
Find the exact document you need
Letter Of Credit Cost
A South African banking document detailing all costs, fees, and charges associated with issuing and maintaining a letter of credit, in compliance with local banking regulations and international standards.
find out more
Standby Letter Of Credit Cost
A South African banking document detailing the complete fee structure and costs associated with issuing and maintaining a standby letter of credit, in accordance with local banking regulations.
find out more
Letter Of Credit Project (Finance)
A South African law-governed Letter of Credit document structured for project finance transactions, combining payment security with project-specific requirements and milestones.
find out more
At Sight Letter Of Credit
A South African-compliant Letter of Credit providing immediate payment upon presentation of compliant documents, governed by local banking regulations and UCP 600.
find out more
Lc Sight And Usance
A South African law-governed Letter of Credit document combining sight and usance payment options for international trade transactions.
find out more
Irrevocable Unconfirmed Letter Of Credit
An Irrevocable Unconfirmed Letter of Credit under South African law, providing a binding bank payment guarantee in international trade transactions.
find out more
Loan Against Letter Of Credit
South African law-governed agreement for providing loan financing against a Letter of Credit, typically used in international trade transactions.
find out more
Cash Credit Account Closure Letter
A formal South African banking document confirming the closure of a cash credit account, outlining closure terms and final settlement requirements under local banking regulations.
find out more
Utility Letter Of Credit
A South African law-governed bank guarantee document ensuring payment security for utility services, issued by a bank in favor of a utility provider.
find out more
Lc Agreement
A South African law-governed agreement establishing terms for a bank-issued Letter of Credit, facilitating secure international trade transactions.
find out more
Standby Guarantee
A South African law-governed bank guarantee that provides payment security upon documented default of specified obligations.
find out more
Irrevocable Letter Of Credit Cost
A South African law-governed banking instrument that provides guaranteed payment terms and associated costs for international trade transactions under an irrevocable letter of credit facility.
find out more
Credit Facility Offer Letter
A South African law-compliant formal letter from a financial institution offering credit facilities to a borrower, detailing terms, conditions, and statutory requirements.
find out more
Usance Lc Discounting
South African agreement for discounting Usance Letters of Credit, governing the early payment of LC proceeds at a discount under South African banking and trade finance regulations.
find out more
Transferring Bank In Lc
A South African law-governed agreement for a bank acting as Transferring Bank in Letter of Credit transactions, detailing transfer terms and regulatory compliance requirements.
find out more
Payment Against Lc
A South African law-governed agreement establishing payment terms and conditions through Letter of Credit in international trade transactions.
find out more
Non Transferable Letter Of Credit
A South African-compliant banking instrument that provides an irrevocable payment guarantee from a bank to a beneficiary, featuring non-transferability provisions.
find out more
Negotiation Bank In Lc
South African banking agreement governing LC document negotiation terms and conditions under local banking laws and international trade practices.
find out more
Cumulative Revolving Letter Of Credit
A South African law-governed banking instrument establishing a renewable credit facility where unused amounts accumulate, typically used in international trade transactions.
find out more
Transferable Lc At Sight
A South African law-governed transferable letter of credit that provides immediate payment upon document presentation, commonly used in international trade transactions.
find out more
Small Business Letter Of Credit
A South African banking instrument providing payment security for small business transactions, governed by local banking laws and regulations.
find out more
Secured Letter Of Credit
A South African law-governed banking instrument combining letter of credit features with security arrangements for enhanced protection in international trade transactions.
find out more
Local Letter Of Credit
A South African banking instrument providing payment security for domestic trade transactions, governed by local banking laws and regulations.
find out more
Loan Facility Letter
A South African banking document that outlines credit facility terms and conditions, serving as a formal offer of lending facilities in compliance with local banking regulations.
find out more
Non Operative Letter Of Credit
A South African banking instrument providing payment security in international trade transactions, governed by local banking laws and UCP 600.
find out more
Letter Of Credit 90 Days
A South African bank-issued payment guarantee instrument with 90-day terms, securing international trade transactions under local banking laws and UCP 600.
find out more
Letter Of Credit 60 Days
A South African bank-issued financial instrument guaranteeing payment to a seller after 60 days, subject to document compliance and governed by South African law.
find out more
Letter Of Credit 30 Days
A South African law-governed banking instrument guaranteeing payment within 30 days for international trade transactions, subject to document compliance.
find out more
Irrevocable Confirmed Lc At Sight
A South African-governed irrevocable confirmed Letter of Credit providing immediate payment upon document presentation, subject to UCP 600 rules and local banking regulations.
find out more
Inland Letter Of Credit
A South African banking instrument providing payment security in domestic trade transactions, governed by local banking and commercial law.
find out more
Import Documentary Letter Of Credit
A bank-issued trade finance document governed by South African and international banking laws, guaranteeing payment to an exporter upon presentation of compliant import documents.
find out more
Domestic Lc
A South African domestic Letter of Credit document that guarantees payment between local parties, governed by South African banking and commercial laws.
find out more
Discrepancy Letter Of Credit
A formal South African banking document acknowledging Letter of Credit discrepancies and requesting payment processing despite identified issues.
find out more
Digital Letter Of Credit
A South African law-governed digital payment guarantee instrument used in international trade, combining traditional letter of credit features with electronic transaction capabilities.
find out more
Business Letter Of Credit
A bank-issued payment guarantee document under South African law that ensures secure payment in commercial transactions, subject to document compliance.
find out more
Beneficiary In Letter Of Credit
A South African law-governed financial instrument issued by a bank guaranteeing payment to a seller (beneficiary) in international trade upon presentation of compliant documents.
find out more
Bank Guarantee And Letter Of Credit
South African law-compliant template for Bank Guarantees and Letters of Credit, establishing terms and conditions for financial institutions providing banking guarantees and documentary credits.
find out more
Unsecured Letter Of Credit
A South African law-governed banking instrument providing an unsecured payment guarantee from a bank to a beneficiary upon presentation of specified documents.
find out more
Trade Finance Letter Of Credit
A bank-issued payment guarantee document governed by South African law and UCP 600, providing security in international trade transactions.
find out more
Unconditional Letter Of Credit
A South African law-governed irrevocable bank undertaking to make payment against compliant documents, subject to UCP 600 and local banking regulations.
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)