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The Non-Transferable Letter of Credit (LC) is a crucial trade finance instrument used when parties seek a secure payment method with the assurance that only the named beneficiary can claim payment. This type of LC is particularly relevant in Indian trade contexts where direct relationships between buyers and sellers need to be maintained without the possibility of third-party involvement. The document, structured as an LC Non Transferable, includes detailed specifications about the transaction, required documents, payment terms, and shipping conditions. It operates under Indian banking regulations and RBI guidelines, while also incorporating international banking practices such as UCP 600. This instrument is commonly used when buyers want to ensure that the payment obligation remains strictly between the original parties, preventing any transfer of drawing rights to other entities.

1. LC Number and Date: Unique identification number and issuance date of the Letter of Credit

2. Non-Transferable Declaration: Clear statement that the LC is non-transferable, prominently displayed

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

4. Applicant Details: Full name, address and contact information of the applicant (buyer)

5. Beneficiary Details: Full name, address and contact information of the beneficiary (seller)

6. Currency and Amount: LC amount in figures and words, and specified currency

7. Expiry Date and Place: Clear statement of expiry date and location for document presentation

8. Available With/By: Specification of whether LC is available by sight, acceptance, or deferred payment

9. Required Documents: Detailed list of documents required for LC presentation

10. Shipment Terms: Latest shipment date and shipment details including port of loading/discharge

11. Presentation Period: Time period within which documents must be presented after shipment

12. Partial Shipment/Transhipment: Whether partial shipments or transhipments are allowed or prohibited