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Acceptance Lc for Qatar

Acceptance Lc Template for Qatar

A Qatar-law governed Acceptance Letter of Credit is a formal banking instrument that combines a traditional letter of credit with a time draft or bill of exchange. This document represents a bank's commitment to accept time drafts drawn by the beneficiary, effectively creating a banker's acceptance that can be discounted in the market. Subject to Qatar's banking regulations and the UCP 600, this instrument provides security to sellers in international trade while offering buyers extended payment terms. The document incorporates specific requirements of Qatar's commercial code and considers Islamic banking principles where applicable.

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What is a Acceptance Lc?

The Acceptance LC is a specialized form of Letter of Credit commonly used in international trade finance, particularly relevant under Qatar law where it must comply with both international banking standards and local regulations. This document is typically used when a seller requires a bank's guarantee of payment at a future date, creating a negotiable instrument in the form of a banker's acceptance. The Acceptance LC is particularly valuable in transactions requiring extended payment terms while maintaining security for the seller. The document must conform to Qatar's Commercial Code, Central Bank regulations, and where applicable, Islamic banking principles. It includes specific details about the acceptance terms, document requirements, and presentation conditions, while incorporating necessary provisions for compliance with Qatar's anti-money laundering regulations and financial center requirements.

What sections should be included in a Acceptance Lc?

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

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

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

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

5. Currency and Amount: LC amount in figures and words, including currency specification

6. Acceptance Terms: Specific terms under which the bank agrees to accept the draft

7. Expiry Date and Place: Clear statement of when and where the LC expires

8. Document Presentation Terms: Required documents and timeline for presentation

9. Shipment Details: Information about goods, shipping terms, and latest shipment date

10. Authentication: Official bank signatures and authentication details

What sections are optional to include in a Acceptance Lc?

1. Transferability Clause: Include when the LC needs to be transferable to another beneficiary

2. Confirmation Instructions: Required when confirmation from another bank is requested

3. Revolving Terms: Include for revolving LCs that automatically renew

4. Red Clause: Include when advance payment to beneficiary is permitted

5. Islamic Banking Compliance: Required when the LC must comply with Shariah principles

6. Back-to-Back LC Terms: Include when the LC is part of a back-to-back arrangement

What schedules should be included in a Acceptance Lc?

1. Document Requirements List: Detailed list of required documents and their specifications

2. Commercial Invoice Template: Prescribed format for the commercial invoice

3. Draft/Bill of Exchange Format: Template for the time draft to be presented for acceptance

4. Bank Authorization Forms: Required forms for bank processing and authorization

5. Compliance Certificates: Templates for required compliance and origin certificates

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

Qatar

Publisher

Ƶ

Document Type

Letter of Credit

Cost

Free to use
Relevant legal definitions


































Clauses



























Relevant Industries

Banking & Financial Services

International Trade

Import/Export

Manufacturing

Commodities Trading

Oil & Gas

Construction

Retail

Wholesale Distribution

Maritime & Shipping

Agriculture

Industrial Equipment

Relevant Teams

Trade Finance

International Banking

Documentary Credits

Treasury

Banking Operations

Compliance

Legal

Risk Management

Finance

International Trade Operations

Relevant Roles

Trade Finance Manager

International Banking Officer

Documentary Credits Specialist

Treasury Manager

Export Finance Manager

Trade Operations Officer

Compliance Officer

Banking Relationship Manager

Chief Financial Officer

Finance Director

Import/Export Manager

Trade Finance Analyst

Legal Counsel

Banking Operations Manager

Credit Risk Officer

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

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