Document background
This Letter of Credit 60 Days is a specialized financial instrument used in international trade transactions where the seller requires payment security but agrees to a 60-day payment deferral after document presentation. The document is structured under Danish law, incorporating both domestic financial regulations and EU requirements, while also adhering to international banking standards (UCP 600). It serves as a bank's irrevocable commitment to pay, typically used in situations where the trading parties seek a balance between payment security and cash flow management. The document includes detailed specifications of the trade terms, required documentation, and payment conditions, making it particularly suitable for established trading relationships where deferred payment terms are advantageous for both parties.
