Validity period: The L/C validity period is agreed upon by both parties, during which the buyer must complete payment and receive goods.

Payment terms: L/C payment terms must be met, typically covering goods quantity, quality, price, and shipment deadlines.

Shipment deadline: L/C shipment deadlines must be strictly followed, usually specifying start and end timeframes to ensure goods reach the buyer on time.

Bill of lading requirements: L/Cs specify bill of lading requirements, including L/C number, goods quantity, type, shipment date, etc., issued by designated shipping or airline companies.

Insurance requirements: L/Cs typically require sellers to purchase qualified cargo transport insurance to ensure goods safety during transit.

Trade documents: L/C-specified trade documents include commercial invoices, bills of lading, packing lists, insurance policies, etc., which must meet L/C requirements and be submitted to the bank on time.

Packing requirements: L/C packing requirements cover goods packaging, labeling, numbering, etc., to prevent damage or loss during transit.

Payee requirements: L/Cs specify payee name, address, bank account, etc. Sellers must ensure accuracy to avoid payment issues.

The above are common L/C terms and requirements in transactions. Sellers must carefully review and ensure compliance before accepting an L/C.