Letters of Credit (LCs) are fundamental instruments in international trade finance, providing security and payment assurance to parties involved in cross-border transactions. A Non-Transferable LC specifically restricts the beneficiary's ability to transfer their rights under the credit to another party, providing additional control and security for the applicant. This document type is particularly relevant when the applicant wants to ensure they are dealing exclusively with the named beneficiary. Under Qatar law, these instruments must comply with both local regulations (including Qatar Commercial Law and Qatar Central Bank requirements) and international banking standards (UCP 600). The document is commonly used in situations where the buyer requires strict control over the transaction chain or where the specific expertise/products of the named beneficiary are crucial to the transaction.
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1. LC Number and Date: Unique identification number and issuance date of the Letter of Credit
2. Issuing Bank Details: Complete name and address of the issuing bank
3. Applicant Details: Full name, address and contact details of the party requesting the LC
4. Beneficiary Details: Full name, address and contact details of the party in whose favor the LC is issued
5. Non-Transferability Declaration: Clear statement that the LC is non-transferable
6. Currency and Amount: Specified currency and maximum amount of the LC
7. Expiry Date and Place: Clear statement of when and where the LC expires
8. Available With/By: Specification of how and with which bank the credit is available
9. Documentation Requirements: Detailed list of required documents for LC execution
10. Shipment Terms: Specifications for shipment including latest shipment date if applicable
11. Presentation Period: Timeframe within which documents must be presented
1. Partial Shipments: Include when specifying whether partial shipments are allowed or prohibited
2. Transhipment: Include when specifying whether transhipment is allowed or prohibited
3. Insurance Coverage: Include when specific insurance requirements need to be detailed
4. Special Conditions: Include when there are additional terms or conditions specific to the transaction
5. Description of Goods: Include when the LC is for specific goods rather than general trading
6. Bank-to-Bank Reimbursement: Include when specifying special reimbursement arrangements between banks
1. Document Presentation Checklist: Detailed checklist of required documents and their specifications
2. Standard Banking Forms: Required banking forms as per Qatar Central Bank regulations
3. UCP 600 Reference Guide: Relevant articles of UCP 600 applicable to this LC
4. Fee Schedule: Breakdown of all applicable banking fees and charges
5. Specimen Signatures: Authorized signatures for the issuing bank and applicant
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
International Trade
Import/Export
Manufacturing
Wholesale Trade
Retail
Commodities Trading
Oil and Gas
Construction
Industrial Equipment
Relevant Teams
Trade Finance
International Banking
Credit Operations
Documentary Credits
Compliance
Risk Management
Commercial Banking
Treasury
Legal
Operations
Relevant Roles
Trade Finance Manager
International Banking Officer
Credit Manager
Documentary Credits Specialist
Import/Export Manager
Treasury Manager
Compliance Officer
Banking Operations Manager
Senior Trade Finance Officer
International Business Development Manager
Commercial Banking Officer
Risk Management Officer
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