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LC SBLC for Qatar

LC SBLC Template for Qatar

A Letter of Credit (LC) or Standby Letter of Credit (SBLC) under Qatari law is a formal banking instrument that provides payment security in commercial transactions. This document, governed by Qatar's legal framework and incorporating international banking practices (UCP 600/ISP98), represents a bank's irrevocable commitment to pay a specified sum upon the presentation of compliant documents. The instrument is structured to comply with Qatar Central Bank regulations, local commercial law, and where applicable, Islamic banking principles, while maintaining international banking standards.

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LC SBLC

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What is a LC SBLC?

Letters of Credit (LC) and Standby Letters of Credit (SBLC) are essential banking instruments in Qatar's commercial landscape, particularly for international trade and financial transactions. These documents are used when parties seek a secure payment mechanism backed by bank guarantees, with the issuing bank committing to pay upon presentation of specified documents. The LC/SBLC must comply with Qatar's banking regulations, including Qatar Central Bank directives and the Commercial Law No. 27 of 2006, while also adhering to international standards such as UCP 600 and ISP98. The document can be structured to accommodate both conventional and Islamic banking requirements, reflecting Qatar's dual banking system. It's particularly crucial for large-scale transactions in sectors such as construction, oil and gas, and international trade, where payment security is paramount.

What sections should be included in a LC SBLC?

1. Letter Reference and Date: Unique reference number and issuance date of the LC/SBLC

2. Form/Type of Credit: Specification of whether it's an LC or SBLC and whether it's irrevocable (standard practice)

3. Applicant Details: Full legal name, address, and contact information of the party requesting the LC/SBLC

4. Beneficiary Details: Full legal name, address, and contact information of the party in whose favor the LC/SBLC is issued

5. Issuing Bank Details: Name, address, and SWIFT code of the issuing bank

6. Amount and Currency: Credit amount in figures and words, including currency specification

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

8. Presentation Terms: Specific requirements for document presentation, including location and deadline

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

10. Payment Terms: Conditions and timing of payment, including whether payment is at sight or deferred

11. Governing Law and Jurisdiction: Specification of Qatari law as governing law and relevant jurisdiction

12. UCP/ISP Incorporation: Statement incorporating UCP 600 or ISP98 rules as applicable

What sections are optional to include in a LC SBLC?

1. Advising Bank Details: Include when an advising bank is involved in the transaction

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

3. Transhipment Terms: Include for commercial LCs involving shipping of goods

4. Partial Shipment/Drawings: Include when partial shipments or drawings are relevant to the transaction

5. Transfer Terms: Include when the credit is transferable

6. Back-to-Back Provisions: Include for back-to-back LC arrangements

7. Islamic Banking Compliance: Include when the LC/SBLC needs to comply with Islamic banking principles

8. Anti-Money Laundering Declarations: Include when required by specific compliance requirements

What schedules should be included in a LC SBLC?

1. Schedule A - Commercial Invoice Requirements: Detailed specifications for acceptable commercial invoices

2. Schedule B - Transport Document Requirements: Specifications for required transport documents (for commercial LCs)

3. Schedule C - Insurance Document Requirements: Details of required insurance documentation

4. Schedule D - Certificate Requirements: Specifications for any required certificates (origin, inspection, etc.)

5. Appendix 1 - Bank SWIFT Codes: List of relevant bank SWIFT codes and contact details

6. Appendix 2 - Document Presentation Checklist: Checklist for beneficiary's document presentation

7. Appendix 3 - Standard Forms: Standard forms for amendments or other communications

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 and Financial Services

International Trade

Oil and Gas

Construction and Infrastructure

Manufacturing

Retail and Wholesale

Shipping and Logistics

Real Estate Development

Energy and Utilities

Islamic Banking

Import/Export

Professional Services

Relevant Teams

Trade Finance

Legal

Compliance

Risk Management

Treasury

Commercial Banking

Islamic Banking

Operations

Credit Administration

International Banking

Documentary Credits

Client Relations

Financial Control

Product Development

Regulatory Reporting

Relevant Roles

Trade Finance Manager

Documentary Credits Officer

Banking Operations Manager

Compliance Officer

Legal Counsel

Treasury Manager

Credit Risk Officer

International Trade Specialist

Finance Director

Commercial Banking Manager

Islamic Banking Specialist

Account Relationship Manager

Chief Financial Officer

Trade Operations Supervisor

Banking Products 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

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