A Confirmed Irrevocable Letter of Credit is a crucial financial instrument used in international trade transactions where additional payment security is required. This document type is particularly relevant when trading parties are in different countries or when there are concerns about the creditworthiness of the issuing bank's country. Under Indian jurisdiction, these letters of credit are governed by domestic banking laws while adhering to international UCP 600 guidelines. The confirmation by a second bank (typically in the beneficiary's country) adds an extra layer of payment security, making it especially valuable in high-value transactions or when dealing with politically or economically volatile regions. The document includes comprehensive details about payment terms, shipping requirements, document presentation conditions, and validity periods, providing clarity and security to all parties involved in the transaction.

1. Letter Credit Number and Date: Unique identification number of the LC and date of issuance

2. Type of Credit: Clear specification that this is a Confirmed Irrevocable Letter of Credit

3. Applicant Details: Full name and address of the party requesting the Letter of Credit (typically the buyer/importer)

4. Beneficiary Details: Full name and address of the party in whose favor the LC is issued (typically the seller/exporter)

5. Issuing Bank Details: Name, address, and SWIFT code of the bank issuing the Letter of Credit

6. Confirming Bank Details: Name, address, and SWIFT code of the bank confirming the Letter of Credit

7. Amount and Currency: Credit amount in figures and words, including currency specification

8. Expiry Date and Place: Final date and location for presentation of documents

9. Available With/By: Specification of where and how the credit is available (payment, acceptance, or negotiation)

10. Partial Shipments/Transhipment: Whether partial shipments or transhipment are allowed or prohibited

11. Required Documents: Detailed list of all documents required for presentation

12. Shipment Terms: Information about shipment including latest shipment date, port of loading/discharge

13. Description of Goods/Services: Detailed description of the goods or services covered by the LC

14. Special Conditions: Any additional terms, conditions, or instructions specific to this LC