The LC Non Transferable is a specialized banking instrument used in international trade finance transactions where the parties require a secure payment method but wish to restrict the letter of credit's transferability. This document is particularly relevant in Hong Kong's dynamic trading environment, where it serves to facilitate international commerce while maintaining strict control over the payment beneficiary. The document includes detailed specifications for the payment conditions, required documentation, and compliance requirements under Hong Kong law. It is commonly used when buyers want to ensure that only the original beneficiary can claim payment, preventing any secondary market trading of the credit. The non-transferable nature makes it particularly suitable for direct trade relationships where the buyer wants to maintain control over the supply chain and prevent intermediaries from entering the transaction.
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1. LC Number and Reference: Unique identification number and reference details of the LC
2. Date of Issuance: Date when the LC is issued
3. Applicant Details: Full name, address, and contact information of the party requesting the LC
4. Beneficiary Details: Full name, address, and contact information of the party in whose favor the LC is issued
5. Issuing Bank Details: Name and details of the bank issuing the LC
6. Amount and Currency: Maximum amount and currency of the LC
7. Non-Transferability Declaration: Clear statement that the LC is non-transferable
8. Expiry Date and Place: Date and location where the LC expires
9. Available With/By: Specification of how and where the LC is available (payment, acceptance, negotiation)
10. Required Documents: Detailed list of documents required for presentation
11. Shipment Terms: Details of shipment including latest shipment date and partial shipments
12. Presentation Period: Time period within which documents must be presented
1. Advising Bank: Details of the advising bank if LC is advised through another bank
2. Confirmation Instructions: Instructions regarding confirmation if LC is to be confirmed
3. Reimbursing Bank: Details of the reimbursing bank if different from the issuing bank
4. Special Conditions: Any additional terms or conditions specific to the transaction
5. Insurance Requirements: Specific insurance requirements if applicable to the transaction
6. Pre-Shipment Inspection: Requirements for pre-shipment inspection if required
7. Transhipment Conditions: Specific conditions regarding transhipment if applicable
1. Document Presentation Form: Standard form for presenting documents under the LC
2. Commercial Invoice Template: Required format and content for commercial invoices
3. Transport Document Requirements: Detailed specifications for acceptable transport documents
4. Bank Contact Details: Complete contact information for all banks involved in the transaction
5. Fee Schedule: Breakdown of all applicable banking fees and charges
6. Amendment Request Form: Standard form for requesting amendments to the LC
Relevant legal definitions
Advising Bank
Applicant
Banking Day
Beneficiary
Bill of Lading
Commercial Invoice
Complying Presentation
Confirmation
Credit
Date of Expiry
Disbursement
Documentary Credit
Draft
Expiry Date
Force Majeure
Honour
Insurance Certificate
Insurance Policy
Issuing Bank
Letter of Credit
Negotiation
Nominated Bank
Non-Transferable
Notification
Original Documents
Packing List
Partial Shipment
Place of Expiry
Presentation
Reimbursing Bank
Shipment
Sight Payment
Transport Document
UCP 600
Undertaking
Unit Price
Usance
Valid Document
Waybill
Applicant
Banking Day
Beneficiary
Bill of Lading
Commercial Invoice
Complying Presentation
Confirmation
Credit
Date of Expiry
Disbursement
Documentary Credit
Draft
Expiry Date
Force Majeure
Honour
Insurance Certificate
Insurance Policy
Issuing Bank
Letter of Credit
Negotiation
Nominated Bank
Non-Transferable
Notification
Original Documents
Packing List
Partial Shipment
Place of Expiry
Presentation
Reimbursing Bank
Shipment
Sight Payment
Transport Document
UCP 600
Undertaking
Unit Price
Usance
Valid Document
Waybill
Clauses
Issuance
Non-Transferability
Credit Amount
Availability
Expiry
Document Requirements
Payment Terms
Presentation Period
Bank Obligations
Applicant Obligations
Beneficiary Rights
Document Examination
Discrepancies
Force Majeure
Governing Law
Jurisdiction
Bank Charges
Amendments
Disclaimers
Anti-Money Laundering
Sanctions Compliance
Document Authenticity
Notice Requirements
Reimbursement
Default
Termination
Assignment
Confirmation
Communication Methods
Dispute Resolution
Non-Transferability
Credit Amount
Availability
Expiry
Document Requirements
Payment Terms
Presentation Period
Bank Obligations
Applicant Obligations
Beneficiary Rights
Document Examination
Discrepancies
Force Majeure
Governing Law
Jurisdiction
Bank Charges
Amendments
Disclaimers
Anti-Money Laundering
Sanctions Compliance
Document Authenticity
Notice Requirements
Reimbursement
Default
Termination
Assignment
Confirmation
Communication Methods
Dispute Resolution
Relevant Industries
Banking & Financial Services
International Trade
Import/Export
Manufacturing
Retail
Commodities Trading
Shipping & Logistics
Agriculture
Mining
Textiles
Electronics
Construction Materials
Chemical Industry
Automotive
Relevant Teams
Trade Finance
International Banking
Documentary Credits
Risk Management
Compliance
Treasury
Operations
Legal
Global Transaction Services
Credit Analysis
Trade Operations
Customer Service
Documentation
Financial Control
Relevant Roles
Trade Finance Manager
International Banking Officer
Documentary Credits Specialist
Import/Export Manager
Chief Financial Officer
Treasury Manager
Credit Risk Officer
Compliance Officer
Banking Operations Manager
Senior Trade Finance Executive
Documentary Collections Officer
Global Trade Finance Director
Supply Chain Finance Manager
International Business Development Manager
Trade Operations Analyst
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