Document background
The At Sight LC is a fundamental trade finance instrument used when immediate payment is required upon presentation of compliant documents. This document type is particularly relevant in international trade transactions where parties seek security in their commercial dealings. Under Austrian law, these instruments combine local banking regulations with international standards, particularly the UCP 600 rules, providing a secure and widely recognized payment mechanism. The document is typically used when sellers require payment assurance before shipping goods, and buyers want to ensure they receive what they ordered. It includes specific terms regarding document requirements, payment conditions, and compliance criteria, all structured within the Austrian legal framework while maintaining international banking standards.
