The Confirmed Irrevocable Letter of Credit is essential in international trade transactions where parties seek maximum payment security. This document type is particularly relevant in the Malaysian context, where it must comply with both local banking regulations and international standards. It is used when the beneficiary requires additional security beyond the issuing bank's commitment, typically due to unfamiliarity with the issuing bank or concerns about the country risk. The confirmation by a second bank (usually in the beneficiary's country) adds another layer of payment security. The document includes comprehensive details about payment terms, required documents, shipping conditions, and bank obligations. Under Malaysian law, these letters of credit are primarily governed by the Financial Services Act 2013 and the UCP 600, making them robust instruments for international trade finance.

1. Issuing Bank Details: Complete details of the bank issuing the L/C including name, address, SWIFT code, and reference numbers

2. Confirming Bank Details: Details of the bank adding their confirmation to the L/C

3. Beneficiary Details: Complete information of the beneficiary (seller/exporter) including name, address, and bank details

4. Applicant Details: Complete information of the applicant (buyer/importer) including name, address, and contact information

5. Credit Number and Amount: Unique L/C number and the monetary amount in figures and words

6. Expiry Details: Date and place of expiry of the L/C

7. Form of Documentary Credit: Specification that this is an irrevocable and confirmed documentary credit

8. Shipment Terms: Details of shipment including latest shipment date, partial shipments, transhipment conditions

9. Required Documents: Comprehensive list of all required documents for L/C negotiation

10. Payment Terms: Specification of payment terms including tenor and negotiation conditions

11. Bank Charges: Allocation of banking charges between parties