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The Conditional Letter of Credit is a fundamental instrument in international trade finance, particularly within Hong Kong's sophisticated banking sector. This document is typically used when parties engage in cross-border transactions and require a secure payment mechanism. It represents a bank's irrevocable commitment to pay, subject to the presentation of compliant documents specified within the letter of credit. The document incorporates specific terms, conditions, and requirements that must be met before payment is released, providing security to both the buyer (who receives the goods as specified) and the seller (who is assured of payment upon compliant presentation). Operating under Hong Kong law and international banking practices (UCP 600), the Conditional Letter of Credit includes crucial details such as credit amount, expiry date, required documents, shipping terms, and compliance conditions. It is particularly valuable in transactions where parties may not have established trading relationships or when local regulations require such instruments for cross-border trade.

1. Bank Details and Reference Number: Opening section identifying the issuing bank and unique LC reference number

2. Date and Place of Issue: Specification of when and where the Letter of Credit was issued

3. Beneficiary Details: Full name and address of the party receiving the Letter of Credit

4. Applicant Details: Full name and address of the party requesting the Letter of Credit

5. Credit Amount and Currency: Specification of the maximum amount and currency of the Letter of Credit

6. Expiry Date and Place: Clear statement of when and where the Letter of Credit expires

7. Available With/By: Specification of how and where the credit is available (payment, acceptance, negotiation)

8. Required Documents: Detailed list of all documents required for presentation

9. Shipment Terms: Details of shipment including latest shipment date and partial shipments if applicable

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

11. Description of Goods/Services: Clear description of the underlying transaction

12. Governing Law Statement: Specification that Hong Kong law governs the Letter of Credit

13. UCP 600 Declaration: Statement that the LC is subject to UCP 600