The Import Letter of Credit (LC) is a crucial trade finance instrument used in international commerce under Saudi Arabian jurisdiction. It serves as a secure payment mechanism where a bank guarantees payment to an overseas seller on behalf of a Saudi Arabian buyer, subject to the presentation of specified documents. The Import LC must comply with Saudi Arabian banking regulations, including Shariah principles, while adhering to international standards such as UCP 600. This document is particularly important for Saudi Arabian businesses engaging in international trade, as it provides security to both parties and helps ensure compliance with local import regulations, customs requirements, and foreign exchange controls. The document includes detailed specifications of the trade terms, required documentation, payment conditions, and compliance requirements specific to Saudi Arabian regulatory framework.
Your data doesn't train Genie's AI
You keep IP ownership聽of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let tiktok成人版's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
1. LC Number and Date: Unique identification number and issuance date of the Letter of Credit
2. Applicant Details: Complete name, address, and contact information of the importer/buyer requesting the LC
3. Beneficiary Details: Complete name, address, and contact information of the exporter/seller
4. Issuing Bank Details: Name and details of the bank issuing the LC in Saudi Arabia
5. Advising Bank Details: Name and details of the bank advising the LC to the beneficiary
6. Currency and Amount: LC amount and currency, written in both figures and words
7. Expiry Date and Place: Final date and location for document presentation
8. Shipment Terms: Latest shipment date, partial shipments, transhipment conditions
9. Payment Terms: Payment conditions including sight, acceptance, or deferred payment
10. Required Documents: List of all documents required for LC compliance
11. Goods Description: Detailed description of goods being imported
12. Incoterms: Specified international commercial terms defining trade responsibilities
13. Document Presentation Period: Timeframe within which documents must be presented after shipment
1. Confirmation Instructions: Used when LC confirmation by another bank is requested
2. Transfer Conditions: Include when the LC needs to be transferable to another beneficiary
3. Special Conditions: For any additional requirements specific to the trade transaction
4. Insurance Requirements: Detailed when specific insurance coverage is required beyond standard terms
5. Pre-shipment Inspection: When inspection prior to shipment is required
6. Red Clause Provisions: Include when advance payment to beneficiary is permitted
7. Green Clause Provisions: Used when storage of goods at destination is involved
8. Shariah Compliance Declaration: Required for transactions needing explicit Islamic finance compliance
1. Schedule A - Commercial Invoice Requirements: Detailed requirements for commercial invoice preparation
2. Schedule B - Shipping Document Requirements: Specific requirements for transport documents
3. Schedule C - Technical Specifications: Detailed technical specifications of goods being imported
4. Schedule D - Packaging Requirements: Specific packaging and marking requirements
5. Appendix 1 - Bank Forms: Standard forms required by the issuing bank
6. Appendix 2 - Import License: Copy of relevant import licenses and permits
7. Appendix 3 - Product Certificates: Required quality, origin, or conformity certificates
8. Appendix 4 - SASO Requirements: Saudi Arabian Standards Organization compliance requirements
Authors
Relevant legal definitions
Clauses
Relevant Industries
Manufacturing
International Trade
Retail
Oil & Gas
Petrochemicals
Construction
Agriculture
Pharmaceuticals
Automotive
Electronics
Consumer Goods
Industrial Equipment
Food & Beverage
Textiles
Mining
Relevant Teams
Finance
International Trade
Procurement
Treasury
Legal
Compliance
Supply Chain
Risk Management
Operations
Banking Relations
Relevant Roles
Trade Finance Manager
Import Manager
International Procurement Manager
Treasury Manager
Finance Director
Compliance Officer
Trade Operations Manager
Banking Relationship Manager
Supply Chain Manager
Chief Financial Officer
Documentary Credits Specialist
International Trade Specialist
Risk Manager
Legal Counsel
Customs Compliance Manager
Find the exact document you need
Irrevocable Lc At Sight
A Saudi Arabian-compliant irrevocable financial instrument guaranteeing immediate payment in international trade upon presentation of compliant documents.
find out more
Import Bill Under Lc
A legal framework for import Letters of Credit transactions under Saudi Arabian law, governing documentary credit operations and ensuring compliance with local and international banking regulations.
find out more
Lc Sight And Usance
A Saudi Arabian-governed Letter of Credit document combining Sight and Usance payment terms, ensuring secure international trade transactions while complying with Islamic banking principles.
find out more
Letter Of Credit Limit
A Saudi Arabian banking facility document establishing a maximum limit for issuing Letters of Credit, governed by Saudi law and Shariah principles.
find out more
Nominated Bank In Letter Of Credit
A Saudi law-governed agreement establishing a bank's authority and obligations as a Nominated Bank in Letter of Credit transactions.
find out more
Lc Confirming Bank
A Saudi Arabian law-governed agreement establishing terms for Letter of Credit confirmation between banks, incorporating Shariah compliance and SAMA regulations.
find out more
Marginal Deposit On Letter Of Credit
Saudi Arabian law-governed agreement establishing terms for a marginal deposit against a letter of credit, compliant with Islamic banking principles.
find out more
Usance Lc 90 Days
A Saudi Arabian law-governed trade finance instrument providing for payment 90 days after document presentation, structured in compliance with both international banking standards and Islamic finance principles.
find out more
Standby Guarantee
A Saudi Arabian law-governed bank guarantee providing financial security in commercial transactions, structured in compliance with Shariah principles and SAMA regulations.
find out more
Collateral For Letter Of Credit
Saudi Arabian law-governed agreement establishing collateral arrangements for securing a letter of credit, incorporating both conventional banking and Shariah compliance requirements.
find out more
Application For Letter Of Credit
A formal banking document used in Saudi Arabia to request the issuance of a Letter of Credit, complying with Saudi banking laws and Shariah principles.
find out more
Usance Lc Discounting
A Saudi Arabian law-governed agreement for Shariah-compliant discounting of Usance Letters of Credit, facilitating trade finance transactions.
find out more
Mixed Payment Lc
A Saudi Arabian financial instrument combining immediate and deferred payment terms for international trade, governed by Saudi law and Sharia principles.
find out more
Transferable Lc At Sight
A Shariah-compliant financial instrument under Saudi Arabian law that provides for immediate payment upon document presentation, with the ability to transfer the credit to other beneficiaries.
find out more
Straight Letter Of Credit
A Saudi Arabian-compliant banking instrument providing an irrevocable payment commitment in international trade, subject to document compliance and local regulations.
find out more
Secured Letter Of Credit
A Shariah-compliant Secured Letter of Credit document under Saudi Arabian law, providing secured payment assurance for international trade transactions.
find out more
Line Of Credit Letter
A Shariah-compliant letter establishing a credit facility issued by a Saudi Arabian bank, outlining credit terms and conditions under Saudi law.
find out more
Letter Of Credit 90 Days
A 90-day Letter of Credit document under Saudi Arabian law, providing secured payment terms for international trade transactions with Shariah-compliant provisions.
find out more
Letter Of Credit 60 Days
A 60-day Letter of Credit document governed by Saudi Arabian law, providing secured payment terms for international trade transactions under UCP 600 and local banking regulations.
find out more
Letter Of Credit 30 Days
A Shariah-compliant 30-day Letter of Credit document under Saudi Arabian jurisdiction, providing secured payment terms for international trade transactions.
find out more
Inland Letter Of Credit
A Saudi Arabian law-governed Inland Letter of Credit document that facilitates secure domestic trade transactions in compliance with SAMA regulations and Shariah principles.
find out more
Discrepancy Letter Of Credit
A formal notification document used in Saudi Arabian banking that identifies and communicates discrepancies in Letter of Credit documentation, complying with both local and international banking standards.
find out more
Beneficiary In Letter Of Credit
A Saudi Arabian law-governed document specifying beneficiary rights and obligations under a Letter of Credit, combining local banking regulations with international trade standards.
find out more
Bank To Bank Lc
Bank to Bank LC agreement under Saudi Arabian law, incorporating Islamic banking principles and international LC standards.
find out more
Trade Finance Letter Of Credit
A Sharia-compliant Trade Finance Letter of Credit under Saudi Arabian law, providing secure payment mechanism for international trade transactions.
find out more
Unconditional Letter Of Credit
A Saudi Arabian law-governed banking instrument that provides an unconditional guarantee of payment from issuing bank to beneficiary, combining local regulations with international banking standards.
find out more
Synthetic Letter Of Credit
A Saudi Arabian law-governed banking instrument combining traditional letter of credit features with synthetic structures, designed for international trade financing while ensuring Shariah compliance.
find out more
Structured Letter Of Credit
A Saudi Arabian law-governed financial instrument that provides structured, Sharia-compliant payment security in international trade transactions.
find out more
Revolving Letter Of Credit
A Shariah-compliant Revolving Letter of Credit document under Saudi Arabian law, providing for automatic credit reinstatement in international trade transactions.
find out more
Restricted Letter Of Credit
A Sharia-compliant Restricted Letter of Credit under Saudi Arabian law, providing secure payment in international trade while limiting credit transferability.
find out more
Outstanding Letter Of Credit
A Saudi Arabia-governed letter of credit document that serves as a bank's undertaking to pay a beneficiary upon presentation of compliant documents, following local laws and Islamic banking principles.
find out more
Operative Letter Of Credit
A Shariah-compliant Letter of Credit document under Saudi Arabian law, facilitating secure international trade payments between parties through banking channels.
find out more
Non Negotiable Letter Of Credit
A Saudi Arabian banking instrument that provides payment guarantee in international trade, compliant with Islamic banking principles and SAMA regulations.
find out more
Negotiable Letter Of Credit
A Saudi Arabian law-governed Negotiable Letter of Credit that serves as a bank-guaranteed payment instrument in international trade transactions, compliant with both Sharia law and UCP 600.
find out more
Letter Of Credit Facility
A Saudi Arabian Letter of Credit facility agreement combining international banking practices with Sharia law requirements for trade finance operations.
find out more
Letter Of Credit Amendment
A formal banking document that modifies an existing Letter of Credit terms under Saudi Arabian jurisdiction and SAMA regulations.
find out more
Lease Letter Of Credit
A Sharia-compliant financial instrument under Saudi Arabian law that secures lease payment obligations through a bank's irrevocable commitment to pay a landlord on behalf of a tenant.
find out more
Fixed Letter Of Credit
A bank-issued payment guarantee document under Saudi Arabian law that provides a fixed, irrevocable commitment to pay upon presentation of compliant documents.
find out more
Divisible Letter Of Credit
A Sharia-compliant banking instrument under Saudi Arabian law that allows for multiple partial drawings against a total credit amount in international trade transactions.
find out more
Direct Letter Of Credit
A Saudi Arabian-compliant banking instrument that provides payment security in international trade transactions, governed by Saudi law and Sharia principles.
find out more
骋别苍颈别鈥檚 Security Promise
Genie is the safest place to draft. Here鈥檚 how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; 骋别苍颈别鈥檚 AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)