The Documentary Letter of Credit serves as a fundamental instrument in international trade finance, providing security to both buyers and sellers in cross-border transactions. It is particularly relevant in Qatar's dynamic economy, where international trade plays a crucial role and where both conventional and Islamic banking systems operate. The document is used when parties seek a secure payment mechanism that balances the interests of importers and exporters, typically in substantial commercial transactions. It details the conditions for payment, required documentation, shipping terms, and compliance requirements under Qatar law, while adhering to international banking standards such as UCP 600. This instrument is especially valuable in Qatar's context, where many transactions involve significant trade relationships with international partners and require careful consideration of both local regulations and international banking practices.
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1. Letter of Credit Number and Type: Unique LC reference number and specification of type (irrevocable, transferable, etc.)
2. Issuing Bank Details: Complete name and address of the issuing bank
3. Applicant Details: Full name and address of the party requesting the LC (buyer/importer)
4. Beneficiary Details: Full name and address of the party in whose favor the LC is issued (seller/exporter)
5. Date and Place of Expiry: Explicit expiration date and location where documents must be presented
6. Currency and Amount: Currency denomination and maximum amount available under the LC
7. Partial Shipments/Transhipment: Whether partial shipments or transhipment is allowed or prohibited
8. Documents Required: Detailed list of all required documents (commercial invoice, transport documents, etc.)
9. Goods Description: Clear description of the merchandise, quantity, unit price, and trade terms
10. Payment Terms: Specification of when and how payment will be made (at sight, deferred payment, etc.)
11. Shipment Details: Port of loading, port of discharge, latest shipment date, and delivery terms
1. Confirmation Instructions: Used when confirmation by another bank is requested, specifying the confirming bank's details
2. Special Conditions: Any additional terms or conditions specific to the transaction
3. Transfer Conditions: Include when the LC is transferable, specifying transfer terms and conditions
4. Islamic Banking Compliance: Required for Shariah-compliant LCs, including relevant Islamic banking terms and conditions
5. Red Clause: Used when advance payment to the beneficiary is authorized
6. Green Clause: Include when storage of goods at destination is part of the arrangement
7. Revolving Terms: Used for revolving LCs, specifying the revolving conditions and limits
1. Schedule A - Document Checklist: Detailed checklist of all required documents with specific requirements for each
2. Schedule B - Shipping Schedule: If multiple shipments are involved, detailed schedule of shipment dates and quantities
3. Schedule C - Price Schedule: Detailed breakdown of prices, especially for multiple items or shipments
4. Appendix 1 - Standard Bank Forms: Standard forms required by the issuing bank for document presentation
5. Appendix 2 - Special Instructions: Any special instructions for document preparation or presentation
6. Appendix 3 - Bank Contact Details: Contact information for all banks involved in the transaction
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