The Letter of Credit (LC) Without Recourse is a critical financial instrument used in international trade transactions under Australian jurisdiction. This document type is particularly valuable when sellers require maximum payment security while ensuring they cannot be held liable for buyer default after receiving payment. The LC Without Recourse explicitly states that once the issuing bank has paid the beneficiary against compliant documents, it cannot seek reimbursement from the beneficiary even if the applicant fails to reimburse the bank. This instrument is commonly used in high-value international transactions, especially in commodity trading, manufacturing exports, and situations where sellers have strong negotiating positions. The document must comply with Australian banking regulations, international trade practices, and the globally recognized UCP 600 rules, while specifically addressing the unique aspects of Australian trade finance requirements and legal framework.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Ƶ's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
1. Letter Date and Reference Number: Opening with date and unique LC reference number
2. Issuing Bank Details: Full details of the issuing bank including address and contact information
3. Beneficiary Details: Complete name and address of the beneficiary
4. Applicant Details: Complete name and address of the applicant (buyer)
5. Credit Amount and Currency: Specification of the LC amount and currency
6. Type and Nature of Credit: Clearly stating it's an irrevocable LC without recourse
7. Availability and Expiry: How and where the credit is available, and expiry date
8. Shipment Terms: Latest shipment date and shipment details
9. Document Requirements: List of required documents for presentation
10. Payment Terms: Specific conditions and timing of payment
11. Special Conditions: Any additional terms or conditions specific to this LC
12. Governing Law Statement: Confirmation that Australian law governs the LC
13. Bank Authorization: Authorized signatures and bank stamps
1. Transferability Clause: Include when the LC needs to be transferable to another beneficiary
2. Revolving Terms: Include for revolving LCs specifying reinstatement conditions
3. Red Clause Provisions: Include when advance payment provisions are required
4. Back-to-Back Provisions: Include when the LC is part of a back-to-back arrangement
5. Partial Shipment Terms: Include when partial shipments are allowed or prohibited
6. Transhipment Terms: Include when specific transhipment conditions apply
1. Document Checklist: Detailed list of required documents with specific format requirements
2. Commercial Invoice Requirements: Specific requirements for commercial invoice presentation
3. Transport Document Requirements: Detailed specifications for bills of lading or other transport documents
4. Insurance Document Requirements: Specifications for insurance documentation if required
5. Bank Code Authentication: Authentication codes and verification procedures
6. Fee Schedule: Breakdown of all applicable bank charges and fees
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
International Trade
Manufacturing
Commodities Trading
Agriculture and Food
Mining and Resources
Retail and Consumer Goods
Energy and Utilities
Automotive
Textiles and Apparel
Electronics and Technology
Chemical and Pharmaceuticals
Relevant Teams
Trade Finance
International Banking
Risk Management
Legal
Compliance
Treasury
Global Operations
Documentary Credits
Trade Operations
Credit Administration
International Sales
Finance
Relevant Roles
Trade Finance Manager
International Business Director
Export Finance Specialist
Documentary Credits Officer
Treasury Manager
Global Trade Operations Manager
Risk Management Officer
Trade Services Manager
International Sales Director
Compliance Officer
Credit Risk Manager
Banking Operations Manager
Chief Financial Officer
Import/Export Coordinator
Trade Documentation Specialist
Find the exact document you need
Credit Card Increase Limit Letter
An Australian-compliant formal letter offering a credit card limit increase to an existing cardholder, including regulatory disclosures and terms.
find out more
SBLC For Buyers Credit
An Australian-law governed Standby Letter of Credit securing buyer's credit facilities, providing bank-backed payment assurance in commercial transactions.
find out more
Letter Of Credit Transaction
An Australian-compliant Letter of Credit document that facilitates secure international trade transactions under UCP 600 rules and Australian banking regulations.
find out more
Letter Of Credit Collection
An Australian-compliant banking document that provides instructions for collecting payment against trade documents through the banking system.
find out more
Lc Issuance
An Australian-law governed Letter of Credit document that provides payment security in international trade transactions through bank-backed guarantees.
find out more
Credit Decline Letter
An Australian-compliant formal letter informing applicants of an unsuccessful credit application, including decline reasons and customer rights information.
find out more
Standby Guarantee
An Australian law-governed financial instrument where a bank guarantees payment to a beneficiary upon demand if specified obligations are not met.
find out more
SBLC Dlc
An Australian law-governed bank undertaking providing payment security through either Standby or Documentary Letter of Credit arrangements.
find out more
Irrevocable Letter Of Credit Cost
An Australian-compliant financial instrument detailing the costs and terms of an irrevocable letter of credit, providing secure payment guarantees in international trade transactions.
find out more
Import Export Lc
An Australian-law governed Letter of Credit agreement that establishes secure payment terms and documentation requirements for international trade transactions.
find out more
Credit Letter In Business Communication
An Australian-compliant business document that formally establishes credit terms and conditions between commercial entities.
find out more
Credit Card Noc Letter
An Australian-compliant formal letter confirming credit card account closure and settlement of all dues, issued by financial institutions to cardholders.
find out more
Collateral For Letter Of Credit
An Australian law-governed agreement establishing security arrangements for letter of credit facilities through asset pledging and collateral management.
find out more
90 Days Usance Lc
An Australian law-governed Letter of Credit document providing 90-day deferred payment terms for international trade transactions.
find out more
180 Days Usance Lc
An Australian law-governed trade finance instrument providing 180-day deferred payment terms with bank guarantee for international trade transactions.
find out more
Cash Backed SBLC
Australian law-governed agreement for Cash Backed Standby Letter of Credit, detailing terms, conditions, and cash backing requirements.
find out more
SBLC Transferable
An Australian law-governed Transferable Standby Letter of Credit that provides a transferable bank payment guarantee, combining local regulations with international banking standards.
find out more
Export Lc Discounting
An Australian law-governed agreement for discounting export letters of credit, establishing terms between financial institutions and exporters for early payment against LC rights.
find out more
SBLC Non Recourse Loan
An Australian law-governed agreement for a non-recourse loan facility secured by a Standby Letter of Credit, limiting the lender's recourse to the SBLC collateral.
find out more
SBLC Trade Program
Australian law-governed agreement establishing an SBLC Trade Program framework for international trade transactions.
find out more
Credit Facility Offer Letter
An Australian-compliant formal letter from a financial institution offering credit facilities to a borrower, detailing key terms and conditions of the proposed facility.
find out more
Banker's Usance Lc
An Australian-compliant financial instrument providing bank-guaranteed deferred payment terms in international trade, governed by Australian banking laws and UCP 600.
find out more
Application For Letter Of Credit
An Australian-compliant formal application to a bank requesting the issuance of a Letter of Credit for international trade transactions.
find out more
Usance Lc Discounting
An Australian-law governed agreement for discounting Usance Letters of Credit, enabling exporters to receive early payment on deferred-payment LCs through banking arrangements.
find out more
Revolving SBLC
An Australian law-governed agreement establishing a Revolving Standby Letter of Credit facility with automatic reinstatement provisions.
find out more
Payment Terms Dlc
An Australian law-governed agreement establishing terms and conditions for Documentary Letter of Credit arrangements in international trade transactions.
find out more
Non Transferable SBLC
An Australian law-governed Non-Transferable Standby Letter of Credit providing bank-issued financial guarantee with restricted drawing rights to the named beneficiary only.
find out more
Negotiation Bank In Lc
An Australian-law governed agreement setting out terms and conditions for Letter of Credit negotiations between banks and trading parties.
find out more
Letter Of Credit Discounting Charges
An Australian-law governed document specifying terms and charges for Letter of Credit discounting services provided by a bank to its client.
find out more
Irrevocable Lc Payment Terms
Australian-law governed Irrevocable Letter of Credit payment terms document specifying conditions and requirements for international trade financing.
find out more
Credit Card Clearance Letter
An Australian-compliant formal document confirming the full settlement and closure of a credit card account, issued by financial institutions under Australian banking and consumer credit regulations.
find out more
Freely Negotiable Letter Of Credit
An Australian law-governed banking instrument that provides secure, flexible payment in international trade, allowing negotiation with any bank under UCP 600 rules.
find out more
Small Business Letter Of Credit
An Australian-compliant bank guarantee document that secures payment in international trade for small businesses, providing assurance to sellers while protecting buyers' interests.
find out more
Red Letter Of Credit
An Australian-compliant Red Letter of Credit document enabling advance payment facilities in international trade, subject to Australian banking regulations and UCP 600.
find out more
Loan Facility Letter
An Australian law-governed document setting out terms and conditions for a lending facility, serving as a binding agreement between lender and borrower.
find out more
Non Operative Letter Of Credit
An Australian-compliant banking instrument that serves as a conditional payment guarantee in international trade, marked as non-operative pending fulfillment of specific conditions.
find out more
Letter Of Credit In Logistics
An Australian-law governed financial instrument issued by banks to facilitate secure international trade transactions, combining payment assurance with logistics requirements.
find out more
Letter Of Credit 90 Days
An Australian-compliant 90-day Letter of Credit document that serves as a bank's irrevocable payment guarantee in international trade transactions.
find out more
Letter Of Credit 60 Days
An Australian-law governed Letter of Credit providing 60-day deferred payment terms for international trade transactions, compliant with UCP 600 and local banking regulations.
find out more
Letter Of Credit 30 Days
An Australian-law governed Letter of Credit providing 30-day payment terms for international trade transactions, ensuring secure payment through banking channels.
find out more
Inland Letter Of Credit
An Australian-law governed banking instrument that provides payment security for domestic trade transactions between Australian parties through a formal letter of credit mechanism.
find out more
Green Letter Of Credit
An Australian law-governed trade finance instrument that combines traditional letter of credit security with environmental sustainability requirements.
find out more
Domestic Letter Of Credit
An Australian law-governed bank undertaking to make payment to a domestic beneficiary under specified conditions and documentation requirements.
find out more
Domestic Lc
An Australian domestic Letter of Credit document that establishes a bank's payment commitment in domestic trade transactions, governed by Australian banking and commercial law.
find out more
Digital Letter Of Credit
An electronically issued, legally binding financial instrument under Australian law that guarantees payment in international trade transactions upon presentation of compliant digital documents.
find out more
Beneficiary In Letter Of Credit
An Australian-compliant formal document used by beneficiaries to present documents and claim payment under a letter of credit in international trade transactions.
find out more
Authorization Letter To Claim Credit Card Delivery
An Australian-compliant authorization letter enabling a designated person to collect a credit card on behalf of the cardholder, meeting local banking and privacy regulations.
find out more
Unsecured Letter Of Credit
An Australian law-governed banking instrument that provides an unsecured payment guarantee from a bank to a seller on behalf of a buyer, subject to document compliance.
find out more
Unrestricted Letter Of Credit
An Australian law-governed banking instrument providing secure, unrestricted payment mechanism for international trade transactions, compliant with UCP 600 and local regulations.
find out more
Unconditional Letter Of Credit
An Australian law-governed irrevocable bank undertaking to make payment to a beneficiary upon presentation of compliant documents, regulated by UCP 600.
find out more
Transit Letter Of Credit
An Australian law-governed banking instrument that facilitates secure payment for international trade transactions involving goods in transit through intermediate destinations.
find out more
Synthetic Letter Of Credit
An Australian law-governed financial instrument combining traditional letter of credit features with synthetic/derivative elements for enhanced trade finance and risk management capabilities.
find out more
Syndicated Letter Of Credit
An Australian law-governed agreement establishing a multi-bank letter of credit facility with shared risk participation among syndicate members.
find out more
Surety Backed Letter Of Credit
Australian law-compliant Surety Backed Letter of Credit template combining traditional LC features with surety protection, suitable for international trade transactions.
find out more
Structured Letter Of Credit
An Australian-law governed specialized letter of credit that incorporates structured payment terms and conditions, providing enhanced financial flexibility while maintaining the security of traditional LCs.
find out more
Revolving Letter Of Credit
An Australian law-governed revolving letter of credit facility document establishing terms for recurring trade finance with automatic reinstatement provisions.
find out more
Restricted Letter Of Credit
An Australian-compliant financial instrument that provides secure payment in international trade while restricting transfer rights.
find out more
SBLC Purchase Agreement
An Australian law-governed agreement for the purchase and transfer of a Standby Letter of Credit, detailing terms, conditions, and compliance requirements.
find out more
SBLC Lease Agreement
An Australian law-governed agreement establishing terms for leasing a Standby Letter of Credit between financial institutions and commercial parties.
find out more
Outstanding Letter Of Credit
An Australian law-governed bank-issued payment guarantee document used in international trade transactions, providing security for both exporters and importers.
find out more
Operative Letter Of Credit
An Australian-governed bank guarantee document ensuring secure payment in international trade transactions, subject to specified conditions and documentation requirements.
find out more
Non Negotiable Letter Of Credit
An Australian-compliant banking instrument that provides payment security in international trade while maintaining non-transferability characteristics.
find out more
Letter Of Credit Verbiage
An Australian-compliant Letter of Credit document that provides bank-guaranteed payment assurance in international trade transactions, subject to Australian banking laws and international conventions.
find out more
Letter Of Credit Negotiable Instrument
An Australian-law governed banking instrument that provides guaranteed payment in international trade transactions, subject to document compliance.
find out more
Letter Of Credit Loc
An Australian-law governed Letter of Credit providing a bank-guaranteed payment mechanism for international trade transactions, subject to UCP 600 and Australian banking regulations.
find out more
Letter Of Credit Discrepancy Acceptance
An Australian-compliant formal document acknowledging and accepting discrepancies in letter of credit documentation, enabling transaction completion despite documentary inconsistencies.
find out more
Letter Of Credit Amendment
A formal modification to an existing Letter of Credit under Australian banking regulations, enabling changes to key terms while maintaining the LC's security and validity.
find out more
Irrevocable Revolving Letter Of Credit
An Australian law-governed financial instrument providing recurring, irrevocable payment guarantee for international trade transactions, subject to UCP 600 rules.
find out more
Interest On Letter Of Credit
An Australian law-governed document establishing terms for interest charges on Letters of Credit, including calculation methods and payment conditions.
find out more
Fronting Letter Of Credit
An Australian-compliant banking instrument where one bank issues a letter of credit on behalf of another bank, establishing terms for trade finance arrangements.
find out more
Fronting Fee Letter Of Credit
An Australian law-governed letter establishing fronting fee arrangements and terms for Letter of Credit facilities between a bank and applicant.
find out more
Fixed Letter Of Credit
An Australian-governed banking instrument that provides a secure payment guarantee in international trade transactions, subject to specific documentation requirements and compliance with UCP 600.
find out more
Electronic Letter Of Credit
An Australian law-governed electronic financial instrument issued by a bank guaranteeing payment in international trade transactions, subject to specified conditions and electronic document presentation.
find out more
Divisible Letter Of Credit
An Australian-compliant financial instrument establishing a letter of credit that can be divided among multiple beneficiaries, governed by domestic banking laws and UCP 600.
find out more
Direct Letter Of Credit
An Australian-law governed banking instrument that provides a secure payment mechanism in international trade, where a bank guarantees payment to a seller upon presentation of compliant documents.
find out more
Credit Card Welcome Letter
An Australian-compliant welcome letter issued to new credit card customers, containing essential product information and regulatory disclosures.
find out more
Credit Extension Letter
An Australian-compliant formal document modifying existing credit arrangements between a financial institution and borrower, outlining updated credit terms and conditions.
find out more
Credit Cancellation Letter
An Australian-compliant formal letter requesting the cancellation of a credit facility or credit card account, adhering to national credit protection legislation.
find out more
Credit Approval Letter
An Australian-compliant formal document issued by a financial institution confirming credit approval and outlining key terms and conditions of the credit facility.
find out more
Conditional Letter Of Credit
An Australian law-governed banking instrument that provides conditional payment security in international trade transactions, subject to presentation of specified documents.
find out more
Cash Collateral Letter Of Credit
An Australian law-governed document establishing terms for a letter of credit secured by cash collateral, used in trade finance transactions.
find out more
Cash Backed Letter Of Credit
An Australian law-governed agreement establishing terms for a Cash Backed Letter of Credit, detailing collateral requirements and parties' obligations.
find out more
Cancellation Of Letter Of Credit
An Australian-compliant document for formally requesting and processing the cancellation of a Letter of Credit, adhering to local banking regulations and international trade practices.
find out more
Bond Letter Of Credit
An Australian-law governed financial instrument issued by a bank that provides payment guarantee through a documentary credit structure, typically used to support various types of bonds and guarantees.
find out more
Blockchain Letter Of Credit
An Australian law-governed document that combines traditional Letter of Credit mechanisms with blockchain technology for secure and efficient international trade financing.
find out more
Beneficiary Certificate Letter Of Credit
An Australian-compliant certification document used in Letter of Credit transactions to declare compliance with specified terms and conditions under Australian banking laws and UCP 600 rules.
find out more
Bankers Acceptance And Letter Of Credit
Australian-law governed document establishing terms for Banker's Acceptances and Letters of Credit, outlining rights and obligations of parties in trade finance transactions.
find out more
Bank Facilities Letter
An Australian-compliant banking document that outlines the terms and conditions of offered credit facilities, serving as both an offer of finance and a binding agreement once accepted.
find out more
Backstop Letter Of Credit
An Australian law-governed contingent payment instrument issued by a bank as secondary payment security, typically following UCP 600 guidelines and local banking regulations.
find out more
Advised Letter Of Credit
An Australian law-governed banking instrument that provides payment security in international trade through authenticated communication by an advising bank.
find out more
Letter Of Credit In Shipping
An Australian-law governed banking instrument that guarantees payment in international shipping transactions upon presentation of compliant documents.
find out more
Performance SBLC
An Australian-law governed Performance SBLC that provides a bank's independent guarantee of payment upon documented failure of contractual performance obligations.
find out more
Issuing Bank In Lc
An Australian bank-issued Letter of Credit document guaranteeing payment in international trade transactions, subject to Australian banking laws and UCP 600.
find out more
Confirmed And Unconfirmed Letter Of Credit
An Australian law-governed bank guarantee document for international trade transactions, incorporating both confirmed and unconfirmed credit arrangements under UCP 600.
find out more
Transferable Lc
An Australian-law governed transferable letter of credit document facilitating international trade transactions through authorized transfer of credit rights between beneficiaries.
find out more
Release Letter Of Credit
An Australian-compliant banking document that formally cancels or releases obligations under an existing Letter of Credit, issued by a bank to relevant parties.
find out more
Lc Without Recourse
An Australian-law governed Letter of Credit Without Recourse that provides secure payment in international trade with no recourse against the beneficiary.
find out more
Credit Application Letter
An Australian-compliant formal document for requesting credit facilities, capturing applicant information and declarations in accordance with national credit legislation.
find out more
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)