Document background
The LC Export Import document serves as a fundamental instrument in international trade finance, providing security and payment assurance for cross-border transactions. It is particularly crucial when parties are operating under different jurisdictions, with this version specifically governed by New Zealand law. The document is typically used when an importer wants to ensure proper delivery of goods before payment release, while the exporter seeks guaranteed payment upon fulfilling specified conditions. The LC Export Import format includes detailed specifications about the transaction, required documentation, payment terms, and shipping requirements, all structured to comply with both New Zealand regulations and international banking standards (UCP 600). This document type is essential for businesses engaged in international trade where direct payment terms are not practical due to distance, different legal systems, or unfamiliarity between trading partners.
