Letter Of Credit 90 Days Template for New Zealand

The Letter of Credit 90 Days is a crucial trade finance instrument used in international commerce, particularly relevant under New Zealand's trading and banking framework. It serves as a bank-issued guarantee of payment, where the issuing bank commits to pay the beneficiary (typically the seller) within 90 days of presenting compliant documents. This document is essential when parties seek a balance between immediate payment security and extended payment terms, commonly used in scenarios where goods require shipping time or when buyers need payment flexibility. The document must comply with both New Zealand banking regulations and international standards (UCP 600), making it a reliable instrument for international trade transactions involving New Zealand-based entities. It includes detailed specifications about the transaction, required documentation, shipping terms, and payment conditions, providing security to both the exporter and importer while facilitating international trade.

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

2. Beneficiary Information: Full details of the party receiving the Letter of Credit (typically the seller/exporter)

3. Applicant Information: Complete details of the party requesting the Letter of Credit (typically the buyer/importer)

4. Letter of Credit Number: Unique reference number for the Letter of Credit

5. Issue Date: Date of issuance of the Letter of Credit

6. Expiry Date: 90-day validity period clearly stated with specific expiration date

7. Credit Amount: Currency and amount of the Letter of Credit, both in figures and words

8. Available With/By: Terms of availability and method of payment (sight, acceptance, negotiation)

9. Partial Shipments: Whether partial shipments are allowed or prohibited

10. Transhipment: Whether transhipment is allowed or prohibited

11. Loading/Dispatch From: Port or place of loading/dispatch

12. Destination: Port or place of final destination

13. Latest Shipment Date: Final date by which shipment must be made

14. Document Presentation Period: Time period within which documents must be presented after shipment

15. Required Documents: Detailed list of all required shipping and commercial documents

16. Additional Conditions: Any specific conditions or terms that must be met

17. Banking Charges: Specification of which party bears which banking charges