Create a bespoke document in minutes, or upload and review your own.
Get your first 2 documents free
Your data doesn't train Genie's AI
You keep IP ownership of your information
Recourse Letter Of Credit
"Need a Recourse Letter of Credit for a Singapore-based manufacturing company importing machinery worth USD 2.5 million from Germany, with specific requirements for partial shipments and a validity period until March 2025."
1. Reference Details: Letter reference number, date, and bank identification details
2. Issuing Bank Information: Complete legal name, address, and contact details of the issuing bank
3. Beneficiary Information: Full legal name, address, and contact details of the beneficiary
4. Credit Amount and Currency: Specified amount of the Letter of Credit and currency denomination
5. Recourse Terms and Conditions: Detailed conditions under which the bank maintains recourse rights against the applicant
6. Payment Terms: Specific conditions and timing for payment, including presentation requirements
1. Partial Shipments Clause: Terms regarding whether partial shipments are permitted (used for trade-related L/Cs)
2. Transhipment Terms: Conditions governing allowed transhipment arrangements (used for international trade L/Cs)
3. Insurance Requirements: Specific insurance requirements and conditions (used when additional security is required)
4. Electronic Presentation: Terms for electronic presentation of documents (used when e-presentation is permitted)
1. Schedule A - Required Documents: Comprehensive list of documents that must be presented for payment
2. Schedule B - Fee Schedule: Detailed breakdown of all applicable fees, charges, and commission
3. Schedule C - Standard Terms and Conditions: Bank's standard Letter of Credit terms and conditions
4. Schedule D - Security Documentation: Details of any related security or collateral arrangements
5. Appendix 1 - UCP 600 Incorporation: Specific reference to and incorporation of UCP 600 rules
Authors
Applicant
Beneficiary
Issuing Bank
Advising Bank
Credit Amount
Expiry Date
Documents Required
Recourse Rights
Event of Default
Governing Law
Banking Day
Presentation
Complying Presentation
UCP 600
Reimbursement Obligation
Security Interest
Charges
Force Majeure
Shipping Documents
Bill of Lading
Commercial Invoice
Insurance Certificate
Certificate of Origin
Negotiating Bank
Confirmation
Available With
Place for Presentation
Latest Shipment Date
Transhipment
Reimbursement Obligations
Payment Terms
Documentary Requirements
Presentation Requirements
Expiry and Validity
Bank Charges
Security Arrangements
Default Events
Force Majeure
Governing Law
Dispute Resolution
Notices
Assignment
Amendment
Representations and Warranties
Indemnification
Confidentiality
Compliance with UCP 600
Bank's Rights and Obligations
Applicant's Undertakings
Anti-Money Laundering
Sanctions Compliance
Set-off Rights
Severability
Entire Agreement
Waiver
Counterparts
Find the exact document you need
Download our whitepaper on the future of AI in Legal
Genie’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; Genie’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
Our bank-grade security infrastructure undergoes regular external audits
We are ISO27001 certified, so your data is secure
Organizational security
You retain IP ownership of your documents
You have full control over your data and who gets to see it
Innovation in privacy:
Genie partnered with the Computational Privacy Department at Imperial College London
Together, we ran a £1 million research project on privacy and anonymity in legal contracts
Want to know more?
Visit our Trust Centre for more details and real-time security updates.
Read our Privacy Policy.