Electronic Letter Of Credit Template for New Zealand

An Electronic Letter of Credit is a crucial instrument in modern international trade, providing payment security while leveraging digital efficiency. This document type is particularly relevant when parties seek to conduct documentary credit transactions electronically, reducing processing time and physical documentation requirements. The instrument operates under New Zealand law, specifically the Contract and Commercial Law Act 2017, while incorporating international banking practices (UCP 600 and eUCP). It's commonly used in import/export transactions where the buyer's bank provides payment assurance to the seller, subject to electronic presentation of compliant documents. The electronic format enables swift processing, enhanced security features, and reduced risk of document loss or tampering, while maintaining the traditional letter of credit's role in facilitating secure international trade.

1. Issuing Bank Details: Complete details of the issuing bank including name, address, SWIFT code, and contact information

2. Letter of Credit Number: Unique reference number for the credit

3. Date of Issue: Date when the letter of credit is issued

4. Beneficiary Details: Complete name and address of the beneficiary (seller/exporter)

5. Applicant Details: Complete name and address of the applicant (buyer/importer)

6. Currency and Amount: The currency and amount of the letter of credit, both in figures and words

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

8. Electronic Presentation Terms: Specific terms and conditions for electronic presentation of documents

9. Available With/By: How and with which bank the credit is available (negotiation, payment, acceptance)

10. Partial Shipments/Transhipment: Whether partial shipments or transhipment is allowed or prohibited

11. Required Documents: Detailed list of required documents and their format requirements

12. Additional Conditions: Any additional terms and conditions specific to this credit

13. Authentication: Electronic authentication and verification methods to be used