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Nominated Bank In Letter Of Credit

Nominated Bank In Letter Of Credit Template for Hong Kong

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Key Requirements PROMPT example:

Nominated Bank In Letter Of Credit

I need a Nominated Bank in Letter of Credit document for our Hong Kong branch, acting as nominated bank for ABC Bank Limited, with authority to negotiate documents up to USD 5 million per transaction, including electronic processing capabilities via SWIFT, effective from March 1, 2025.

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Document background
The Nominated Bank In Letter of Credit document is essential in international trade finance transactions operating under Hong Kong law. It is used when an issuing bank designates another bank to act as its nominated bank for handling letter of credit transactions. The document formally establishes the nominated bank's authority to negotiate, pay, or accept drafts under the letter of credit, specifying the scope of services and responsibilities. Governed by Hong Kong law and regulated by the Hong Kong Monetary Authority, this document must comply with both local banking regulations and international standards such as UCP 600. It typically includes detailed terms of nomination, compliance requirements, and operational procedures, serving as a crucial link in the letter of credit chain between the issuing bank and the beneficiary.
Suggested Sections

1. Bank Details and Reference: Full legal name and address of the nominated bank, plus relevant reference numbers

2. Addressee Information: Details of the issuing bank and/or the beneficiary to whom the nomination is being communicated

3. Letter of Credit Reference: Specific details of the Letter of Credit including number, date, and amount

4. Nomination Confirmation: Clear statement of acceptance to act as nominated bank and specification of authorized services (negotiation, payment, acceptance)

5. Terms of Nomination: Specific conditions under which the bank agrees to act as nominated bank

6. Compliance Statement: Declaration of compliance with UCP 600 and other applicable rules

7. Authorization: Statement of authority to act under the Letter of Credit

8. Contact Information: Relevant department and contact details for L/C operations

9. Signature Block: Authorized signatory details and official bank stamp section

Optional Sections

1. Special Instructions: Any specific requirements or conditions unique to this nomination, included when there are special handling requirements

2. Fee Structure: Details of any fees or charges, included when the nominated bank wishes to specify its fee structure upfront

3. Electronic Processing Details: SWIFT codes and electronic processing information, included when electronic handling is specifically required

4. Risk Disclaimers: Additional risk statements and disclaimers, included when dealing with high-risk transactions or jurisdictions

5. Confirmation Status: Details about confirmation if the bank is also asked to act as confirming bank, included when confirmation is requested

Suggested Schedules

1. Fee Schedule: Detailed breakdown of all applicable fees and charges

2. Required Document Checklist: List of documents required for presentation under the L/C

3. Bank's Standard Terms and Conditions: General terms and conditions applicable to the bank's L/C operations

4. Authorized Signatories List: List of bank officials authorized to handle L/C operations

Authors

Alex Denne

Head of Growth (Open Source Law) @ 红杏直播 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions



































Clauses


























Relevant Industries

Banking & Financial Services

International Trade

Import/Export

Manufacturing

Wholesale Trade

Retail

Shipping & Logistics

Commodities Trading

General Commerce

Relevant Teams

Trade Finance

International Banking

Documentary Credits

Compliance

Legal

Risk Management

Operations

Treasury

Client Relations

Transaction Banking

Relevant Roles

Trade Finance Manager

Letter of Credit Officer

Banking Operations Director

Compliance Officer

International Banking Manager

Documentary Credits Specialist

Trade Services Head

Risk Management Officer

Banking Relationship Manager

Treasury Manager

Chief Financial Officer

Import/Export Manager

Trade Finance Analyst

Banking Operations Supervisor

Legal Counsel

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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