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
Verbiage Letter Of Credit
"Need a Verbiage Letter of Credit for an international machinery purchase from Singapore to Germany, value of USD 500,000, with payment to be made in three installments and expiry date of March 15, 2025."
1. Letter Reference: Unique identification number and date of the LC
2. Issuing Bank Details: Complete details of the bank issuing the LC including name, branch, address and contact information
3. Beneficiary Details: Complete details of the party receiving payment including full name, address and banking information
4. Applicant Details: Complete details of the party requesting the LC including full name, address and contact information
5. Currency and Amount: Specified currency and maximum amount of the LC, including both numerical and words format
6. Expiry Details: Expiry date and place of the LC, including presentation period requirements
7. Payment Terms: Specific conditions and timing of payment, including method of payment and required documentation
1. Transferability Clause: Optional clause specifying whether and how the LC can be transferred to another beneficiary
2. Revolving Credit Clause: Optional clause detailing terms for automatic renewal of the LC
3. Red Clause: Optional clause allowing for advance payment to beneficiary before document presentation
4. Back-to-Back Provisions: Optional provisions for when the LC is used to support another LC
1. Required Documents List: Comprehensive list of all documents required for LC execution and payment
2. Special Conditions Appendix: Additional terms, conditions, and requirements specific to the transaction
3. Shipping Terms Schedule: Detailed shipping requirements, Incoterms, and delivery conditions if applicable
4. Fee Schedule: Breakdown of all applicable fees, charges, and commission rates
Authors
Issuing Bank
Beneficiary
Applicant
Advising Bank
Confirming Bank
Presentation
Documents
Credit
Business Day
Banking Day
Expiry Date
Shipment Date
Place of Expiry
Available With
Negotiation
Draft
Clean Collection
Documentary Collection
Transport Document
Bill of Lading
Commercial Invoice
Packing List
Certificate of Origin
Insurance Document
Sight Payment
Deferred Payment
Acceptance
Negotiation
Complying Presentation
Applicable Rules
UCP 600
Force Majeure
Governing Law
Jurisdiction
Availability
Expiry and Presentation
Documents Required
Payment Terms
Shipping Terms
Description of Goods
Partial Shipments
Transhipment
Transfer Conditions
Bank Charges
Amendments
Force Majeure
Assignment
Applicable Rules
Governing Law
Jurisdiction
Notices
Documentary Requirements
Confirmation Instructions
Reimbursement Terms
Default
Dispute Resolution
Severability
Authentication
Representations and Warranties
Compliance with Laws
Anti-Money Laundering
Sanctions Compliance
Confidentiality
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.