The Lc Revocable serves as a critical trade finance instrument in the United Arab Emirates, primarily used in situations where flexibility in payment commitment is required or accepted by trading parties. This document type, while less common in modern international trade due to its revocable nature, remains relevant in specific trading relationships where parties have established trust or where market conditions warrant such flexibility. Governed by UAE Federal Law No. 18 of 1993 (Commercial Code) and aligned with UCP 600, it provides a framework for documentary credit transactions while allowing the issuing bank to modify or cancel the credit at any time without prior notice to the beneficiary. The document typically includes detailed terms regarding payment conditions, document requirements, shipping terms, and compliance with UAE banking regulations.

1. Letter Head and Reference: Bank's letterhead, LC reference number, and date of issuance

2. Beneficiary Details: Full name and address of the beneficiary of the Letter of Credit

3. Applicant Details: Full name and address of the applicant requesting the Letter of Credit

4. Currency and Amount: Specification of the LC amount and currency

5. Expiry Details: Expiry date and place of the Letter of Credit

6. Revocability Statement: Clear statement indicating that the LC is revocable and conditions for revocation

7. Documentary Requirements: List of required documents for presentation

8. Shipment Terms: Details of shipment including latest shipment date and partial shipments allowance

9. Payment Terms: Specification of payment terms and conditions

10. Governing Law: Statement that the LC is subject to UAE law and UCP 600

11. Bank Authorization: Authorized signatures and bank stamps