The Import Letter of Credit (LC) is a crucial trade finance instrument used in Indonesian international trade transactions. It serves as a secure payment mechanism where a bank guarantees payment to an overseas seller on behalf of an Indonesian buyer, subject to the presentation of compliant documents. The Import LC must comply with Indonesian banking regulations, particularly Law No. 7 of 1992 as amended by Law No. 10 of 1998, and follows international standards set by UCP 600. This document is essential when Indonesian businesses need to provide payment security to international suppliers, particularly for high-value transactions or when dealing with new trading partners. It includes detailed specifications of the trade terms, document requirements, and payment conditions, while incorporating necessary compliance elements for Indonesian foreign exchange and import regulations.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Genie AI's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
1. LC Number and Date: Unique identification number and issuance date of the LC
2. Parties: Identification of all parties: Applicant (Importer), Beneficiary (Exporter), Issuing Bank, and Advising/Confirming Bank if applicable
3. LC Amount and Currency: The credit amount and currency specification
4. Form of LC: Whether irrevocable, confirmed/unconfirmed, transferable/non-transferable
5. Expiry Date and Place: Validity period and location where LC expires
6. Shipment Terms: Latest shipment date, partial shipments, transhipment permissions
7. Port Details: Port of loading and discharge specifications
8. Goods Description: Detailed description of goods being imported
9. Document Requirements: List of required documents (commercial invoice, transport documents, insurance, etc.)
10. Payment Terms: Sight, deferred payment, or acceptance terms
11. Banking Charges: Allocation of banking fees and charges between parties
12. Special Conditions: Any additional terms or conditions specific to this LC
1. Transferability Clause: Include when LC needs to be transferable to second beneficiaries
2. Red Clause: Include when advance payment to beneficiary is permitted
3. Green Clause: Include when storage of goods is involved with advance payment
4. Revolving Credit Terms: Include for recurring shipments under same LC
5. Back-to-Back Provisions: Include when LC supports back-to-back credit arrangements
6. Standby Provisions: Include when LC serves as a standby guarantee
7. Foreign Exchange Terms: Include when specific currency exchange provisions are needed
1. Schedule A - Document Checklist: Detailed checklist of all required documents and their specifications
2. Schedule B - Goods Specifications: Detailed technical specifications of goods being imported
3. Schedule C - Banking Instructions: Specific instructions for handling documents and payments
4. Appendix 1 - Pro-forma Invoice: Copy of pro-forma invoice from exporter
5. Appendix 2 - Import License: Copy of relevant import licenses and permits
6. Appendix 3 - Insurance Coverage: Details of insurance coverage for the shipment
Authors
Relevant legal definitions
Clauses
Relevant Industries
Manufacturing
Retail
Agriculture
Mining
Electronics
Automotive
Textiles
Chemical
Pharmaceutical
Food and Beverage
Construction
Energy
Consumer Goods
Industrial Equipment
Technology
Relevant Teams
Finance
International Trade
Procurement
Treasury
Legal
Compliance
Supply Chain
Operations
Risk Management
Documentary Credits
Banking Relations
Relevant Roles
Import Manager
Trade Finance Manager
Procurement Director
Chief Financial Officer
Treasury Manager
International Trade Specialist
Supply Chain Manager
Banking Relations Manager
Finance Director
Compliance Officer
Documentary Credit Specialist
International Business Development Manager
Operations Manager
Risk Manager
Legal Counsel
Find the exact document you need
Letter Of Credit Loan
An Indonesian law-governed agreement establishing terms for letter of credit facilities between a bank and borrower, complying with local banking regulations and international practices.
find out more
Lc Trade (Finance)
An Indonesian-law governed Letter of Credit document that provides secured payment mechanism for international trade transactions, compliant with local banking regulations and international standards.
find out more
Lc At Sight Terms
Letter of Credit at Sight terms document under Indonesian law, establishing bank payment commitments for international trade transactions.
find out more
Biaya Letter Of Credit
An Indonesian law-governed agreement establishing fees and payment terms for Letter of Credit services between a bank and its client.
find out more
Trade Lc
An Indonesian-law governed Trade Letter of Credit document that facilitates secure international trade transactions through bank-guaranteed payment commitments.
find out more
Lc Document
A bank-issued payment guarantee document for international trade transactions, governed by Indonesian banking laws and UCP 600.
find out more
Payment Terms SBLC
Indonesian law-governed document establishing terms and conditions for Standby Letter of Credit payment arrangements, including banking obligations and compliance requirements.
find out more
Import Bill Under Lc
Indonesian Import Bills Under LC agreement outlining terms and conditions for documentary credit operations under Indonesian law and international trade practices.
find out more
Lc For Payment
A bank-issued payment guarantee document under Indonesian law that ensures secure payment in international trade transactions, subject to document compliance.
find out more
Lc Facility
An Indonesian law-governed agreement establishing terms for a bank to issue letters of credit for a corporate client, combining local banking regulations with international trade practices.
find out more
Letter Of Credit Limit
An Indonesian law-governed agreement establishing a revolving facility for issuing Letters of Credit up to a predetermined limit.
find out more
Lc Invoice
An LC Invoice is a formal trade document used in letter of credit transactions, compliant with Indonesian trade laws and international banking standards.
find out more
SBLC As Collateral
An Indonesian law-governed agreement establishing terms for using a Standby Letter of Credit as collateral security, compliant with local banking regulations.
find out more
Application Letter For Lc
A formal application document used in Indonesia to request a bank to issue a Letter of Credit, governed by Indonesian banking laws and international trade practices.
find out more
Marginal Deposit On Letter Of Credit
An Indonesian law-governed agreement establishing terms for maintaining a cash deposit as security for a Letter of Credit facility.
find out more
Loan Against Letter Of Credit
An Indonesian law-governed agreement for providing bank financing against a Letter of Credit as security, commonly used in international trade transactions.
find out more
Lc Payment Terms In Export
Indonesian law-compliant Letter of Credit payment terms agreement for export transactions, incorporating local regulations and international banking practices.
find out more
Direct Pay Letter Of Credit
An Indonesian law-governed bank undertaking that guarantees payment to a beneficiary upon presentation of compliant documents in international trade transactions.
find out more
Sblc Trade (Finance)
An Indonesian law-governed agreement establishing terms and conditions for issuing and managing Standby Letters of Credit in international trade transactions.
find out more
Lc Export Import
An Indonesian law-governed Letter of Credit Export Import agreement facilitating secure international trade transactions with standardized payment and documentation requirements.
find out more
SBLC DLC
A bank-issued financial instrument under Indonesian law that provides payment security in international trade and financial transactions, governed by local banking regulations and international standards.
find out more
Credit Letter In Business Communication
An Indonesian law-governed banking document that establishes credit arrangements between financial institutions and businesses, operating under Indonesia's banking regulations and financial authority oversight.
find out more
Collateral For Letter Of Credit
An Indonesian law-governed security agreement establishing collateral arrangements for Letter of Credit facilities, compliant with local banking and security regulations.
find out more
Cash Backed SBLC
An Indonesian law-governed agreement for a cash-collateralized Standby Letter of Credit, establishing terms between bank, applicant, and beneficiary.
find out more
SBLC Transferable
A transferable bank guarantee instrument governed by Indonesian law that allows the beneficiary to transfer their rights to receive payment to another party.
find out more
SBLC Non Recourse Loan
An Indonesian law-governed loan agreement secured by SBLC with non-recourse provisions, combining local regulatory compliance with international banking practices.
find out more
Letter Of Credit Risk
Risk management framework for Letter of Credit transactions under Indonesian law, incorporating local banking regulations and international standards.
find out more
Letter Of Credit Fee
An Indonesian banking document specifying fees and charges for Letter of Credit services, governed by Indonesian banking laws and Bank Indonesia regulations.
find out more
Letter Of Credit Duration
A formal banking document used in Indonesia to modify the duration of an existing Letter of Credit, governed by Indonesian banking regulations and international trade practices.
find out more
Lc Finance Term
Indonesian law-governed Letter of Credit financing facility agreement establishing terms for LC issuance and trade finance operations.
find out more
Letter Of Credit Payment Terms
An Indonesian law-governed document specifying Letter of Credit payment terms and conditions for international trade transactions, aligned with Bank Indonesia regulations and UCP 600.
find out more
Guarantee Letter Of Credit
An Indonesian law-governed banking instrument that provides a bank's guarantee of payment to a beneficiary upon presentation of compliant documents under UCP 600 rules.
find out more
Credit Facility Offer Letter
An Indonesian law-governed formal letter from a bank to a prospective borrower detailing approved credit facility terms and conditions.
find out more
Cash Collateralized Letter Of Credit
An Indonesian law-governed agreement establishing terms for a Cash Collateralized Letter of Credit facility, detailing collateral requirements and LC issuance procedures.
find out more
Application For Letter Of Credit
An Indonesian-law governed application form for requesting a bank to issue a Letter of Credit, following Bank Indonesia regulations and international banking practices.
find out more
SBLC Buyers
An Indonesian law-governed agreement between a buyer and bank for the issuance of a Standby Letter of Credit (SBLC), outlining terms, conditions, and compliance requirements.
find out more
SBLC Backed Buyers Credit
An Indonesian law-governed financing agreement establishing an SBLC-backed buyers credit facility with associated terms, conditions, and security arrangements.
find out more
SBLC At Sight
An Indonesian law-governed bank guarantee instrument that provides immediate payment upon compliant document presentation, combining local banking regulations with international practices.
find out more
Transferring Bank In Lc
An Indonesian law-governed document facilitating the transfer of Letters of Credit rights from first to second beneficiary, compliant with UCP 600 and local banking regulations.
find out more
Revolving SBLC
An Indonesian law-governed Revolving SBLC agreement establishing a renewable credit facility with automatic reinstatement provisions.
find out more
ұԾ’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; ұԾ’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
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)