The Confirmed LC (Letter of Credit) is a crucial document in international trade finance, particularly relevant under Qatar's robust banking framework. It is used when parties seek additional security in their international trade transactions, typically in situations where the beneficiary wants extra assurance beyond the issuing bank's commitment. The confirmation adds a second bank's independent payment undertaking, making it particularly valuable in cross-border transactions involving Qatar-based entities or when dealing with emerging markets. The document must comply with Qatar Central Bank regulations and typically follows UCP 600 guidelines, incorporating specific requirements for document presentation, payment terms, and compliance checks. This type of LC is especially relevant when dealing with high-value transactions or in situations where the beneficiary may have concerns about the political or economic risks in the issuing bank's country.
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1. Letter Reference and Date: Unique LC reference number and issuance date
2. Advising Bank Details: Complete details of the advising bank including SWIFT code
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. Form of Credit: Specification that this is a confirmed, irrevocable documentary credit
7. Expiry Date and Place: Clear statement of expiry date and location for document presentation
8. Payment Terms: Detailed payment conditions including sight, deferred payment, or acceptance
9. Required Documents: Comprehensive list of required documents for LC settlement
10. Shipment Terms: Detailed shipping instructions, latest shipment date, and partial shipment conditions
11. Governing Law and Jurisdiction: Specification of Qatar law as governing law and relevant jurisdiction
1. Transferability Clause: Include when the LC needs to be transferable to a second beneficiary
2. Red Clause Provisions: Include when advance payment to the beneficiary is permitted
3. Revolving Credit Terms: Include for LCs that automatically renew under specified conditions
4. Back-to-Back Provisions: Include when the LC supports back-to-back credit arrangements
5. Silent Confirmation Details: Include when there's a silent confirmation arrangement with a third bank
6. Green Clause Provisions: Include when storage of goods is involved with advance payment features
1. Schedule A - Commercial Invoice Requirements: Detailed specifications for acceptable commercial invoice format and content
2. Schedule B - Transport Document Requirements: Specific requirements for bills of lading or other transport documents
3. Schedule C - Insurance Document Requirements: Detailed requirements for insurance documentation
4. Appendix 1 - Document Presentation Schedule: Timeline and process for document presentation
5. Appendix 2 - Fee Schedule: Detailed breakdown of all applicable banking fees and charges
6. Appendix 3 - Special Instructions: Any special handling or processing instructions specific to this LC
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
International Trade
Import/Export
Manufacturing
Wholesale Trade
Retail
Commodities Trading
Shipping and Logistics
Energy and Resources
Agricultural Trade
Relevant Teams
Trade Finance
International Banking
Documentary Credits
Compliance
Risk Management
Treasury Operations
Trade Operations
Legal
Credit Analysis
Customer Relations
Relevant Roles
Trade Finance Manager
International Banking Officer
Letter of Credit Specialist
Compliance Officer
Treasury Manager
Import/Export Manager
Trade Operations Manager
Documentary Credits Specialist
Senior Banking Executive
Risk Management Officer
International Trade Specialist
Finance Director
Banking Relationship Manager
Trade Finance Analyst
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