Ƶ

Irrevocable Non Transferable Letter Of Credit for Germany

Irrevocable Non Transferable Letter Of Credit Template for Germany

An Irrevocable Non-Transferable Letter of Credit under German law is a binding financial instrument that provides a secure payment mechanism in international trade transactions. Governed by German commercial law, particularly the Handelsgesetzbuch (HGB), and incorporating UCP 600 principles, it represents an irrevocable undertaking by a bank to pay the beneficiary a specified sum upon strict compliance with the stated documentary requirements. The non-transferable nature ensures that only the named beneficiary can present documents and receive payment, providing additional security and control over the transaction.

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.

Download a Standard Template

4.6 / 5
4.8 / 5
Access for free
OR

Alternatively: Run an advanced review of an existing
Irrevocable Non Transferable Letter Of Credit

Let Ƶ's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.

What is a Irrevocable Non Transferable Letter Of Credit?

The Irrevocable Non-Transferable Letter of Credit is essential in international trade transactions where parties seek secure payment mechanisms while operating under different legal systems. This document, governed by German law and international banking practices, provides a binding commitment from a bank to pay the seller (beneficiary) upon presentation of compliant documents, regardless of disputes between the underlying parties. It incorporates strict documentary requirements, specific payment terms, and validity periods, offering security to both exporters and importers. The irrevocable nature means it cannot be amended or cancelled without all parties' agreement, while the non-transferable aspect ensures payment rights cannot be assigned to third parties, maintaining transaction integrity and reducing fraud risks.

What sections should be included in a Irrevocable Non Transferable Letter Of Credit?

1. Letter Reference and Date: Unique LC reference number and issuance date

2. Issuing Bank Details: Complete name and address of the issuing bank

3. Beneficiary Information: Full name and address of the beneficiary (seller/exporter)

4. Applicant Information: Full name and address of the applicant (buyer/importer)

5. Credit Amount and Currency: Specified amount and currency of the LC

6. Expiry Date and Place: Validity period and location where the LC expires

7. Documentation Requirements: Detailed list of required documents for presentation

8. Shipment Terms: Latest shipment date and specific shipping requirements

9. Presentation Period: Timeframe within which documents must be presented

10. Payment Terms: When and how payment will be made (at sight, deferred, etc.)

11. Governing Law Declaration: Statement of German law governance and UCP 600 application

12. Non-Transferability Statement: Clear statement that the LC is non-transferable

13. Authentication: Bank's authorized signatures and authentication details

What sections are optional to include in a Irrevocable Non Transferable Letter Of Credit?

1. Revolving Terms: Include when the LC is revolving, specifying reinstatement conditions

2. Red Clause Provisions: Include when advance payment is permitted to the beneficiary

3. Green Clause Provisions: Include when warehouse storage provisions are required

4. Partial Shipment Terms: Include when partial shipments are allowed or prohibited

5. Transhipment Terms: Include when specific transhipment conditions apply

6. Confirmation Instructions: Include when confirmation by another bank is required

7. Special Conditions: Include when there are additional requirements specific to the transaction

What schedules should be included in a Irrevocable Non Transferable Letter Of Credit?

1. Schedule A - Document Requirements: Detailed checklist of required documents and their specifications

2. Schedule B - Goods Description: Detailed description of the goods or services covered

3. Schedule C - Payment Schedule: If applicable, detailed payment terms and installment schedule

4. Appendix 1 - Form of Commercial Invoice: Template or requirements for commercial invoice presentation

5. Appendix 2 - Form of Transport Documents: Templates or requirements for transport documentation

6. Appendix 3 - Form of Insurance Documents: Templates or requirements for insurance documentation

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Germany

Publisher

Ƶ

Document Type

Letter of Credit

Cost

Free to use
Relevant legal definitions






































Clauses





















Relevant Industries

International Trade

Banking and Financial Services

Manufacturing

Import/Export

Retail

Commodities Trading

Agriculture

Energy

Automotive

Construction

Textiles

Electronics

Chemical Industry

Pharmaceutical

Relevant Teams

Trade Finance

International Banking

Legal

Compliance

Treasury

Risk Management

Operations

Documentary Credits

Trade Operations

Export Finance

Import Operations

Financial Control

Corporate Banking

International Business Development

Relevant Roles

Trade Finance Manager

International Trade Specialist

Documentary Credits Officer

Export Finance Manager

Import Operations Manager

Trade Operations Officer

Compliance Officer

Financial Controller

Treasury Manager

Credit Risk Manager

Banking Relationship Manager

Trade Finance Legal Counsel

Documentary Collections Specialist

International Business Development Manager

Supply Chain Finance Manager

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Loan Against Lc

A German law-governed agreement for providing financing against Letters of Credit, incorporating German banking regulations and international trade finance practices.

find out more

Letter Of Credit Risk

A German law-governed document analyzing and outlining risks associated with Letter of Credit transactions, incorporating both German banking regulations and international trade standards.

find out more

Letter Of Credit Fraud

A German law-governed document addressing Letter of Credit fraud, outlining allegations, evidence, and demands for remedial action under German legal framework.

find out more

Letter Of Credit Fee

A German law-governed document specifying the fee structure and payment terms for Letter of Credit services provided by a bank to its client.

find out more

Letter Of Credit Duration

A German law-governed document specifying the validity period and conditions of a letter of credit, incorporating both German banking regulations and international standards.

find out more

Letter Of Credit Amount

A German law-governed banking document specifying the amount and terms of a letter of credit facility for secure international trade payments.

find out more

Lc Finance Term

A German law-governed Letter of Credit financing agreement that establishes terms, conditions, and obligations for secure international trade transactions.

find out more

Letter Of Credit Payment Terms

German law-governed Letter of Credit payment terms document specifying conditions and requirements for L/C transactions.

find out more

Guarantee Letter Of Credit

A German law-governed banking instrument providing payment guarantee in international trade transactions, subject to document compliance and UCP 600 rules.

find out more

Credit Facility Offer Letter

A German law-governed formal offer letter from a bank detailing credit facility terms and conditions, compliant with German banking regulations.

find out more

Cash Collateralized Letter Of Credit

German law-governed agreement for a cash-collateralized letter of credit, establishing terms for secure payment backed by cash collateral.

find out more

Banker's Usance Lc

A German law-governed financial instrument providing deferred payment terms in international trade, issued by a bank to guarantee payment after a specified period.

find out more

Application For Letter Of Credit

A German-compliant application form for requesting a Letter of Credit from a bank, following German banking regulations and international trade practices.

find out more

Advance Payment Lc

A German law-governed banking instrument that secures advance payments in commercial transactions through documented conditions and bank guarantees.

find out more

Deferred Payment Letter Of Credit

A German law-governed banking instrument that commits to future payment in international trade transactions, combining the security of a letter of credit with deferred payment terms.

find out more

SBLC Buyers

A German law-governed agreement establishing terms for issuing a Standby Letter of Credit, detailing parties' obligations and drawing conditions.

find out more

SBLC Backed Buyers Credit

German law-governed credit facility agreement secured by a Standby Letter of Credit, structuring financing terms and security arrangements under German banking regulations.

find out more

SBLC At Sight

A German law-governed Standby Letter of Credit providing immediate payment guarantee upon presentation of compliant documents.

find out more

Payment Terms Dlc

German law-governed payment terms document for Documentary Letters of Credit, establishing conditions and requirements for secure international trade payments.

find out more

Negotiation Bank In Lc

A German law-governed agreement setting out terms for Letter of Credit negotiation services between a bank and its customer, compliant with German banking regulations and international standards.

find out more

Mixed Payment Lc

A German law-governed Letter of Credit combining immediate and deferred payment terms for international trade transactions, providing flexible payment structure with bank guarantee.

find out more

Irrevocable Non Transferable Letter Of Credit

A German law-governed financial instrument providing secure payment in international trade, issued by a bank as an irrevocable and non-transferable commitment to pay upon document compliance.

find out more

Direct Pay Standby Letter Of Credit

A German law-governed banking instrument providing payment security and primary payment mechanism through an irrevocable bank undertaking.

find out more

Credit Card Clearance Letter

A German-compliant formal document confirming the full settlement and closure of a credit card account, issued by the credit card provider to the cardholder.

find out more

Freely Negotiable Letter Of Credit

A German law-governed financial instrument issued by a bank guaranteeing payment in international trade transactions, subject to specified documentation requirements.

find out more

Verbiage Letter Of Credit

A German law-governed banking instrument that guarantees payment in international trade transactions upon presentation of compliant documents.

find out more

Small Business Letter Of Credit

A German-compliant Letter of Credit document providing payment security for small business international trade transactions, governed by German banking laws and UCP 600.

find out more

Secured Letter Of Credit

A German law-governed banking instrument combining a traditional letter of credit with security arrangements, providing enhanced protection while facilitating international trade transactions.

find out more

Loan Facility Letter

A German law-governed document establishing the terms and conditions of a loan facility between lender and borrower, compliant with German banking regulations and civil law requirements.

find out more

Line Of Credit Letter

A formal commitment letter under German law establishing a revolving credit facility's terms and conditions, in compliance with German banking regulations and civil code requirements.

find out more

Non Operative Letter Of Credit

A German law-governed banking instrument providing payment security in international trade through an irrevocable commitment from a bank to pay against compliant documents.

find out more

Letter Of Credit 90 Days

A German law-governed banking instrument guaranteeing payment to a seller after 90 days, subject to compliant document presentation, commonly used in international trade.

find out more

Letter Of Credit 60 Days

A German law-governed Letter of Credit providing 60-day deferred payment terms, ensuring secure international trade transactions under UCP 600 and German commercial law.

find out more

Letter Of Credit 30 Days

A German law-governed Letter of Credit providing for payment within 30 days, serving as a bank's irrevocable commitment to pay in international trade transactions.

find out more

Installment Letter Of Credit

A German law-governed banking instrument that facilitates scheduled installment payments in international trade transactions, providing security to both buyer and seller.

find out more

Inland Letter Of Credit

A German law-governed banking instrument providing payment security in domestic trade transactions through bank-mediated documentary credit.

find out more

Green Letter Of Credit

A German law-governed financial instrument combining traditional letter of credit security with environmental sustainability requirements for international trade transactions.

find out more

Import Documentary Letter Of Credit

A German law-governed banking instrument that guarantees payment in international trade upon presentation of compliant shipping documents.

find out more

Domestic Lc

A German law-governed domestic Letter of Credit facilitating secure payment in domestic trade transactions between German parties.

find out more

Digital Letter Of Credit

A German law-governed electronic banking instrument that guarantees payment in international trade transactions through secure digital platforms and authentication methods.

find out more
See more related templates

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