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At Sight Lc

At Sight Lc Template for Saudi Arabia

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Key Requirements PROMPT example:

At Sight Lc

"I need an At Sight LC template for a manufacturing equipment purchase from Germany worth 2.5 million EUR, with shipment required by March 2025, including specific provisions for technical documentation and partial shipments."

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Document background
An At Sight LC is a fundamental trade finance instrument used in international commerce where immediate payment is required upon presentation of compliant documents. This document is specifically tailored for transactions governed by Saudi Arabian law, incorporating both international banking practices (UCP 600) and local regulatory requirements. It's particularly relevant for transactions requiring Sharia compliance and adherence to SAMA guidelines. The document provides security to exporters by guaranteeing payment through a bank's commitment, while protecting importers by ensuring documented compliance with trade terms. It includes detailed specifications for document presentation, payment terms, and compliance requirements, making it essential for various international trade transactions involving Saudi Arabian entities.
Suggested Sections

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

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

3. Applicant Details: Full name, address, and contact information of the buyer/importer

4. Beneficiary Details: Full name, address, and contact information of the seller/exporter

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

6. Expiry Date and Place: Final date and location for document presentation

7. Available With/By: Specification of the bank with which the credit is available and manner of availability

8. Payment Terms: Specification that payment is available at sight upon presentation of compliant documents

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

10. Goods Description: Precise description of the goods, quantity, unit price, and trade terms

11. Shipment Details: Port of loading, discharge, latest shipment date, and partial shipment/transshipment conditions

12. Document Presentation Period: Timeframe within which documents must be presented after shipment

Optional Sections

1. Advising Bank Details: Include when a specific bank is designated to advise the LC to the beneficiary

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

3. Transfer Conditions: Include when the LC is transferable

4. Insurance Requirements: Include when specific insurance coverage details are required beyond standard terms

5. Special Conditions: Include when there are additional requirements or conditions specific to the transaction

6. Sharia Compliance Declaration: Include when explicitly required to confirm compliance with Islamic banking principles

Suggested Schedules

1. Schedule A - Document Checklist: Detailed checklist of required documents with specific format requirements

2. Schedule B - Standard Banking Forms: Collection of required banking forms for LC processing

3. Schedule C - Fee Schedule: Breakdown of all applicable banking charges and fees

4. Appendix 1 - UCP 600 References: Relevant articles from UCP 600 applicable to the LC

5. Appendix 2 - SAMA Compliance Notes: Specific requirements from Saudi Arabian Monetary Authority

6. Appendix 3 - Document Presentation Guidelines: Detailed instructions for document preparation and presentation

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

alex.den.21@genieai.co
Relevant legal definitions





































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Relevant Industries

Banking and Financial Services

International Trade

Manufacturing

Import/Export

Shipping and Logistics

Insurance

Oil and Gas

Agriculture

Retail

Construction

Mining

Textiles

Automotive

Electronics

Relevant Teams

Trade Finance

International Banking

Corporate Banking

Legal

Compliance

Risk Management

Treasury

Operations

Documentary Credits

Islamic Banking

Customer Relations

Trade Operations

Relevant Roles

Trade Finance Manager

International Trade Specialist

Letter of Credit Officer

Compliance Officer

Banking Operations Manager

Treasury Manager

Import Manager

Export Manager

Documentary Credits Specialist

Financial Controller

Risk Manager

Sharia Compliance Officer

Trade Operations Supervisor

Banking Relationship Manager

Chief Financial 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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