Small Business Letters of Credit are essential financial instruments in Indonesian international trade, particularly when small businesses need to engage in secure import/export transactions. This document type is specifically designed for businesses qualifying as "small enterprises" under Indonesian Law No. 20 of 2008, providing them with a secure method of international payment. The Small Business Letter of Credit is used when a small business needs to make an international purchase and requires bank-backed payment security for the transaction. It contains critical information including payment terms, shipping requirements, and document specifications, all structured to comply with Bank Indonesia regulations and international UCP 600 standards. The document is particularly relevant in situations where the small business buyer needs to establish credibility with international sellers, while sellers seek payment security through bank guarantees. It incorporates specific provisions that address the unique needs and constraints of small businesses while maintaining the robust security features of standard Letters of Credit.
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1. Letter of Credit Number: Unique identifier for the Letter of Credit
2. Date of Issue: The date when the Letter of Credit is issued
3. Applicant Details: Complete information about the small business requesting the Letter of Credit, including business registration number and address
4. Beneficiary Details: Complete information about the party receiving payment under the Letter of Credit
5. Issuing Bank Details: Information about the bank issuing the Letter of Credit
6. Amount and Currency: The credit amount and currency specification
7. Expiry Date: The date and place where the Letter of Credit expires
8. Payment Terms: Specific conditions and timing of payment
9. Required Documents: List of documents that must be presented for payment
10. Shipment Terms: Details of shipment including latest shipment date and partial shipments allowance
11. Governing Law: Statement that the Letter of Credit is governed by Indonesian law and UCP 600
1. Advising Bank: Details of the intermediary bank, used when there's a bank in the beneficiary's country involved
2. Transferability Clause: Include when the Letter of Credit needs to be transferable to another beneficiary
3. Insurance Requirements: Specific insurance requirements, included when dealing with certain types of goods or shipping methods
4. Special Conditions: Any additional conditions specific to the transaction
5. Red Clause: Include when advance payment to the beneficiary is allowed
6. Green Clause: Include when storage of goods at destination is required before payment
1. Document Requirements Checklist: Detailed checklist of all required documents and their specifications
2. Goods Description Schedule: Detailed description of goods, including quantities, specifications, and pricing
3. Bank Charges Schedule: Breakdown of all applicable bank charges and who bears them
4. Shipping Terms Schedule: Detailed shipping instructions and requirements
Relevant legal definitions
Clauses
Relevant Industries
Import/Export
Manufacturing
Retail
Agriculture
Textiles
Electronics
Food and Beverage
Commodities Trading
Furniture Manufacturing
Handicrafts
Small-Scale Industrial
Fashion and Apparel
Relevant Teams
Finance
International Trade
Procurement
Legal
Compliance
Treasury
Supply Chain
Business Development
Risk Management
Operations
Relevant Roles
Finance Manager
Import/Export Coordinator
Trade Finance Specialist
Small Business Owner
Procurement Manager
International Trade Manager
Banking Relationship Manager
Compliance Officer
Treasury Manager
Supply Chain Manager
Chief Financial Officer
Business Development Manager
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