The Irrevocable LC at Sight is a fundamental trade finance instrument widely used in Pakistani international trade transactions. It serves as a secure payment method where the issuing bank makes an irrevocable commitment to pay the beneficiary upon presentation of compliant documents. This document type is particularly crucial in cross-border transactions where parties seek payment security and trade confidence. The document must comply with the State Bank of Pakistan's regulations, the Foreign Exchange Regulation Act, and international banking standards (UCP 600). It's commonly used when sellers require payment security and immediate payment upon shipment of goods and presentation of required documents. The document typically includes detailed specifications of the trade transaction, required documentation, payment terms, and shipping requirements.
Create a bespoke document in minutes, or upload and review your own.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Get your first 2 documents free
Your data doesn't train Genie's AI
You keep IP ownership聽of your information
Key Requirements PROMPT example:
Irrevocable Lc At Sight
"I need an Irrevocable LC at Sight for the import of textile machinery from Shanghai to Karachi, valued at USD 500,000, with shipment required by March 2025 and partial shipments allowed."
1. Letter of Credit Number: Unique reference number assigned to the LC
2. Date of Issue: Date when the LC is issued
3. Issuing Bank Details: Complete name, address, and SWIFT code of the issuing bank
4. Applicant Details: Full name, address, and contact information of the buyer/importer
5. Beneficiary Details: Full name, address, and contact information of the seller/exporter
6. Currency and Amount: Currency code and amount of the LC in both figures and words
7. Expiry Date and Place: Last date for presentation of documents and location where documents must be presented
8. Payment Terms: Specification that payment is at sight upon presentation of compliant documents
9. Required Documents: Detailed list of all required documents for presentation
10. Shipment Terms: Latest shipment date, partial shipments/transhipment permissions, and shipping details
11. Description of Goods: Detailed description of goods including quantity, unit price, and trade terms (Incoterms)
12. Bank Charges: Specification of which party bears which bank charges
1. Advising Bank Details: Include when LC is advised through a specific bank in beneficiary's country
2. Confirming Bank Details: Include when LC requires confirmation from another bank
3. Transferability Clause: Include when LC needs to be transferable to another beneficiary
4. Special Conditions: Include when there are additional terms or conditions specific to the transaction
5. Reimbursing Bank Details: Include when a specific reimbursing bank is designated
6. Red Clause: Include when advance payment facility is to be provided to the beneficiary
7. Green Clause: Include when storage facility funding is to be provided to the beneficiary
1. Commercial Invoice Template: Prescribed format for the commercial invoice if specific format required
2. Packing List Format: Specified format for the packing list if required
3. Transport Document Requirements: Detailed specifications for transport documents
4. Insurance Document Requirements: Detailed specifications for insurance documents
5. Certificate of Origin Requirements: Specific requirements for Certificate of Origin if required
6. Inspection Certificate Requirements: Format and requirements for inspection certificates if required
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
International Trade
Manufacturing
Import/Export
Logistics and Transportation
Commodities Trading
Textile Industry
Agricultural Products
Consumer Goods
Industrial Equipment
Energy and Resources
Pharmaceutical Industry
Relevant Teams
Trade Finance
International Banking
Documentary Credits
Risk Management
Treasury
Operations
Compliance
Legal
Supply Chain
Procurement
International Sales
Shipping and Logistics
Relevant Roles
Trade Finance Manager
Import Manager
Export Manager
Letter of Credit Specialist
International Trade Compliance Officer
Banking Operations Manager
Documentary Credits Officer
Treasury Manager
Chief Financial Officer
Trade Operations Analyst
Risk Management Officer
Supply Chain Manager
Procurement Manager
International Sales Manager
Shipping and Logistics Manager
Find the exact document you need
Letter Of Credit Loan
An Indonesian law-governed agreement establishing terms for letter of credit facilities between a bank and borrower, complying with local banking regulations and international practices.
find out more
Lc Trade (Finance)
An Indonesian-law governed Letter of Credit document that provides secured payment mechanism for international trade transactions, compliant with local banking regulations and international standards.
find out more
Lc At Sight Terms
Letter of Credit at Sight terms document under Indonesian law, establishing bank payment commitments for international trade transactions.
find out more
Biaya Letter Of Credit
An Indonesian law-governed agreement establishing fees and payment terms for Letter of Credit services between a bank and its client.
find out more
Trade Lc
An Indonesian-law governed Trade Letter of Credit document that facilitates secure international trade transactions through bank-guaranteed payment commitments.
find out more
SBLC Letter Of Credit
A Philippine-law governed Standby Letter of Credit that serves as a bank-issued payment guarantee, subject to Philippine banking regulations and international standards.
find out more
Credit Limit Increase Request Letter
A formal letter requesting a credit card limit increase in the Philippines, complying with local banking regulations and including essential financial information for assessment.
find out more
Letter Of Credit Cost
A South African banking document detailing all costs, fees, and charges associated with issuing and maintaining a letter of credit, in compliance with local banking regulations and international standards.
find out more
Lc Document
A Swiss law-governed Letter of Credit document providing bank payment guarantee in international trade transactions, combining Swiss banking reliability with international standards.
find out more
Stand By Letter Of Credit
A Maltese law-governed Standby Letter of Credit serving as a bank-issued payment guarantee, combining local legislation with international banking practices.
find out more
Payment Terms SBLC
A Pakistani law-governed document establishing payment terms and conditions for Standby Letters of Credit, compliant with local banking regulations and international standards.
find out more
Irrevocable Lc At Sight
An Irrevocable Letter of Credit at Sight under Pakistani law, providing a secure payment mechanism for international trade transactions with immediate payment upon document presentation.
find out more
Revocable Lc
An Austrian law-governed financial instrument issued by a bank that provides a conditional, revocable payment guarantee in international trade transactions.
find out more
Letter Of Credit In International Trade
An Austrian law-governed banking instrument that provides payment security in international trade transactions through bank-guaranteed payment upon presentation of compliant documents.
find out more
Download our whitepaper on the future of AI in Legal
By providing your email address you are consenting to our Privacy Notice.
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
Our bank-grade security infrastructure undergoes regular external audits
We are ISO27001 certified, so your data is secure
Organizational security
You retain IP ownership of your documents
You have full control over your data and who gets to see it
Innovation in privacy:
Genie partnered with the Computational Privacy Department at Imperial College London
Together, we ran a 拢1 million research project on privacy and anonymity in legal contracts
Want to know more?
Visit our for more details and real-time security updates.
Read our Privacy Policy.