Payment Terms Clauses
(Commercial Letter of Credit)

Summary

These payment terms clauses may be used in a commercial letter of credit required of a buyer as the primary payment method in a transaction, which is often international, and include amounts to be paid, required documentation for payment, and other conditions. This template includes practical guidance and drafting notes. For a full listing of related contract clauses, see General Commercial Contract Clause Resource Kit. For more information on payment, see Payment, Collection, and Audit and Key Provisions of Sales and Purchase Agreements — Price and Payment Terms.