Letter of Credit Fees definition: Copy, customize and use instantly
Introduction
The term "Letter of Credit Fees" refers to the fees charged for the issuance, confirmation, and administration of a letter of credit. It is essential for defining the costs involved in utilizing this financial instrument, which is often used in international trade or other contractual obligations where payment needs to be guaranteed.
Below are various examples of how "Letter of Credit Fees" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Letter of Credit Fees" as issuance fees
This definition ties "Letter of Credit Fees" to the costs associated with the initial issuance of the letter of credit.
"Letter of Credit Fees" means the fees charged by the issuing bank for the establishment of a letter of credit, including administrative and processing costs.
Definition of "Letter of Credit Fees" as confirmation fees
This definition connects "Letter of Credit Fees" to the charges for confirming a letter of credit.
"Letter of Credit Fees" refers to the fees charged by the confirming bank for confirming the validity and payment guarantee of a letter of credit.
Definition of "Letter of Credit Fees" as amendment fees
This definition links "Letter of Credit Fees" to charges incurred for modifying an existing letter of credit.
"Letter of Credit Fees" means the fees assessed for any amendments made to the terms of an issued letter of credit, including changes to beneficiary details or payment instructions.
Definition of "Letter of Credit Fees" as document handling fees
This definition applies "Letter of Credit Fees" to the charges for handling documents required for drawing under the credit.
"Letter of Credit Fees" refers to the fees charged by the issuing or confirming bank for handling, verifying, and processing the documents submitted under a letter of credit.
Definition of "Letter of Credit Fees" as negotiation fees
This definition ties "Letter of Credit Fees" to the fees for negotiating the credit terms with the bank.
"Letter of Credit Fees" means the fees paid for the negotiation of terms and conditions of the letter of credit between the beneficiary and the bank.
Definition of "Letter of Credit Fees" as cancellation fees
This definition connects "Letter of Credit Fees" to the charges for canceling an issued letter of credit.
"Letter of Credit Fees" refers to the fees associated with the cancellation of a letter of credit before its expiration date or before payment is made.
Definition of "Letter of Credit Fees" as extension fees
This definition links "Letter of Credit Fees" to charges for extending the validity of the letter of credit.
"Letter of Credit Fees" means the fees assessed when the validity of a letter of credit is extended beyond the original expiry date.
Definition of "Letter of Credit Fees" as risk fees
This definition applies "Letter of Credit Fees" to fees based on the perceived risk of the transaction.
"Letter of Credit Fees" refers to additional fees that may be charged when the transaction is deemed high-risk by the issuing or confirming bank.
Definition of "Letter of Credit Fees" as reimbursement fees
This definition ties "Letter of Credit Fees" to the reimbursement charges imposed on the applicant for using the credit.
"Letter of Credit Fees" means the fees that the applicant is required to pay for reimbursing the bank for payments made under a letter of credit.
Definition of "Letter of Credit Fees" as interest fees
This definition connects "Letter of Credit Fees" to the interest charged on advances made under the letter of credit.
"Letter of Credit Fees" refers to the interest fees that may be charged on any advance made by the issuing bank under a letter of credit, typically applicable in trade finance.
Definition of "Letter of Credit Fees" as transaction fees
This definition links "Letter of Credit Fees" to the transaction-specific fees incurred during the process.
"Letter of Credit Fees" means any transaction-specific charges assessed during the process of opening, confirming, or maintaining a letter of credit.
Definition of "Letter of Credit Fees" as drawing fees
This definition applies "Letter of Credit Fees" to the charges incurred when drawing on the letter of credit.
"Letter of Credit Fees" refers to the fees imposed when a drawing is made under the terms of a letter of credit.
Definition of "Letter of Credit Fees" as document verification fees
This definition ties "Letter of Credit Fees" to the fees for verifying the authenticity of the documents presented.
"Letter of Credit Fees" means the fees associated with verifying the correctness and authenticity of documents presented in accordance with the letter of credit.
Definition of "Letter of Credit Fees" as renewal fees
This definition connects "Letter of Credit Fees" to the fees charged for renewing a letter of credit.
"Letter of Credit Fees" refers to the fees applied when the letter of credit is renewed after its initial term expires.
Definition of "Letter of Credit Fees" as operational fees
This definition links "Letter of Credit Fees" to operational costs related to the management of the credit.
"Letter of Credit Fees" means the operational charges related to the administration and management of a letter of credit by the issuing or confirming bank.
Definition of "Letter of Credit Fees" as banking service fees
This definition applies "Letter of Credit Fees" to the broader category of banking services associated with the credit.
"Letter of Credit Fees" refers to any banking service charges assessed by the bank for services provided in connection with a letter of credit.
Definition of "Letter of Credit Fees" as processing fees
This definition ties "Letter of Credit Fees" to the administrative and processing costs involved in handling the credit.
"Letter of Credit Fees" means the fees that cover the cost of processing and administering a letter of credit.
Definition of "Letter of Credit Fees" as foreign exchange fees
This definition connects "Letter of Credit Fees" to the fees for currency conversion if the transaction involves different currencies.
"Letter of Credit Fees" refers to the fees charged for the conversion of currency when the letter of credit involves cross-border payments in different currencies.
Definition of "Letter of Credit Fees" as customs fees
This definition links "Letter of Credit Fees" to the fees related to customs clearance when goods are shipped under the letter of credit.
"Letter of Credit Fees" means any fees related to customs clearance and compliance when goods are imported under the terms of a letter of credit.
Definition of "Letter of Credit Fees" as bank's guarantee fees
This definition applies "Letter of Credit Fees" to the fees charged for the guarantee provided by the issuing bank.
"Letter of Credit Fees" refers to the guarantee fees charged by the issuing bank for providing payment assurance to the beneficiary under the letter of credit.
Definition of "Letter of Credit Fees" as risk assessment fees
This definition ties "Letter of Credit Fees" to the charges for assessing the risk involved in the transaction.
"Letter of Credit Fees" means the fees charged by the bank for assessing the risk associated with the letter of credit before it is issued.
Definition of "Letter of Credit Fees" as cancellation confirmation fees
This definition connects "Letter of Credit Fees" to the fees for confirming the cancellation of the letter of credit.
"Letter of Credit Fees" refers to the confirmation fees charged by the bank when the letter of credit is canceled.
Definition of "Letter of Credit Fees" as standby fees
This definition links "Letter of Credit Fees" to fees for maintaining a standby letter of credit.
"Letter of Credit Fees" means the fees charged for keeping a standby letter of credit active, typically as collateral for a loan.
Definition of "Letter of Credit Fees" as upfront fees
This definition applies "Letter of Credit Fees" to any upfront costs charged at the issuance of the letter of credit.
"Letter of Credit Fees" refers to the upfront fees that are charged at the time of the issuance of the letter of credit.
Definition of "Letter of Credit Fees" as performance bond fees
This definition ties "Letter of Credit Fees" to the fees charged for a performance bond under the letter of credit.
"Letter of Credit Fees" means the fees charged for issuing a performance bond or similar guarantee under the terms of the letter of credit.
Definition of "Letter of Credit Fees" as bank service charges
This definition connects "Letter of Credit Fees" to broader bank service charges.
"Letter of Credit Fees" refers to any bank service charges imposed in connection with the issuance, management, or amendment of a letter of credit.
Definition of "Letter of Credit Fees" as post-issuance fees
This definition links "Letter of Credit Fees" to fees charged after the issuance of the letter of credit.
"Letter of Credit Fees" means the fees charged after the issuance of the letter of credit, including charges for any modifications or extensions.
Definition of "Letter of Credit Fees" as handling charges
This definition applies "Letter of Credit Fees" to charges for handling transactions under the letter of credit.
"Letter of Credit Fees" refers to any fees associated with handling transactions that take place under the letter of credit, including verification of terms and conditions.
Definition of "Letter of Credit Fees" as cancellation fees
This definition ties "Letter of Credit Fees" to charges for canceling the letter of credit.
"Letter of Credit Fees" refers to the fees imposed by the issuing bank when a letter of credit is canceled before its expiration date.
Definition of "Letter of Credit Fees" as endorsement fees
This definition connects "Letter of Credit Fees" to the charges for endorsing or transferring the letter of credit.
"Letter of Credit Fees" means the fees charged for the endorsement or transfer of the letter of credit to another beneficiary.
Definition of "Letter of Credit Fees" as audit fees
This definition links "Letter of Credit Fees" to fees for auditing the credit.
"Letter of Credit Fees" refers to the fees charged by the bank for conducting an audit of the transaction or credit process associated with the letter of credit.
Definition of "Letter of Credit Fees" as legal fees
This definition applies "Letter of Credit Fees" to any legal fees incurred during the processing of the letter of credit.
"Letter of Credit Fees" means any legal fees related to the review, negotiation, or enforcement of the letter of credit terms.
Definition of "Letter of Credit Fees" as back-to-back fees
This definition ties "Letter of Credit Fees" to the fees for arranging a back-to-back letter of credit.
"Letter of Credit Fees" refers to the fees associated with the arrangement of a back-to-back letter of credit, often used in intermediary financing transactions.
Definition of "Letter of Credit Fees" as courier fees
This definition connects "Letter of Credit Fees" to the courier fees for delivering documents required under the credit.
"Letter of Credit Fees" means the fees charged by the courier for delivering documents related to the letter of credit.
Definition of "Letter of Credit Fees" as review fees
This definition links "Letter of Credit Fees" to charges for reviewing the terms and conditions of the letter of credit.
"Letter of Credit Fees" refers to the fees imposed for reviewing the documentation and compliance with the letter of credit’s conditions.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.