An Import Letter of Credit is a fundamental trade finance instrument used when Malaysian businesses need to import goods from overseas suppliers. This document type is particularly crucial in situations where parties seek payment security in international trade transactions. The Import Letter of Credit, governed by Malaysian law and international banking practices, provides a structured payment mechanism where the issuing bank commits to pay the foreign seller upon presentation of compliant documents. It includes detailed specifications about the transaction, including payment terms, shipping requirements, and document presentation conditions. This instrument is especially valuable when dealing with new trading partners or in countries where there might be commercial or political risks. The document must comply with both Malaysian banking regulations and international standards, particularly the UCP 600.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Genie AI's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
Upload your Doc
1. Letter Reference Number and Date: Unique LC reference number and issuance date
2. Bank Details: Full details of the issuing bank including name, branch, and contact information
3. Applicant Details: Complete information of the importer/buyer requesting the LC
4. Beneficiary Details: Complete information of the exporter/seller who will receive payment under the LC
5. LC Amount and Currency: Specified amount and currency of the Letter of Credit
6. Expiry Date and Place: Date and location where the LC expires
7. Available With/By: Specifies the bank with which the credit is available and the manner of availability
8. Shipment Terms: Latest shipment date and partial shipment/transhipment conditions
9. Required Documents: List of documents required for presentation
10. Payment Terms: Specification of when and how payment will be made (at sight, deferred payment, etc.)
11. Description of Goods: Detailed description of the goods being traded
12. Incoterms: Specified International Commercial Terms applicable to the transaction
1. Transfer Conditions: Include when the LC is transferable to another beneficiary
2. Special Conditions: Any additional terms or conditions specific to the transaction
3. Insurance Requirements: Specific insurance requirements if not covered under standard shipment terms
4. Bank Charges: Detailed breakdown of bank charges and their allocation between parties
5. Confirmation Instructions: Include when confirmation from another bank is required
6. Reimbursement Instructions: Include when specific reimbursement arrangements between banks are needed
1. Commercial Invoice Template: Prescribed format for the commercial invoice
2. Transport Document Requirements: Detailed specifications for bills of lading or other transport documents
3. Insurance Document Requirements: Specific requirements for insurance certificates or policies
4. Certificate of Origin Requirements: Format and requirements for certificate of origin
5. Inspection Certificate Requirements: Requirements for pre-shipment inspection certificates if applicable
6. Bank Draft Format: Template for drafts to be drawn under the LC
Relevant legal definitions
Advising Bank
Applicant
Banking Day
Beneficiary
Bill of Exchange
Bill of Lading
Certificate of Origin
Commercial Invoice
Complying Presentation
Confirmation
Credit
Documentary Credit
Draft
Expiry Date
Honour
Issuing Bank
Letter of Credit
Negotiating Bank
Negotiation
Packing List
Presentation
Reimbursing Bank
Shipment
Sight Payment
Transport Document
UCP 600
Undertaking
Applicant
Banking Day
Beneficiary
Bill of Exchange
Bill of Lading
Certificate of Origin
Commercial Invoice
Complying Presentation
Confirmation
Credit
Documentary Credit
Draft
Expiry Date
Honour
Issuing Bank
Letter of Credit
Negotiating Bank
Negotiation
Packing List
Presentation
Reimbursing Bank
Shipment
Sight Payment
Transport Document
UCP 600
Undertaking
Clauses
Credit Amount
Currency Designation
Credit Availability
Expiry Conditions
Document Presentation
Payment Terms
Shipping Terms
Document Requirements
Bank Undertaking
Transfer Rights
Governing Law
Force Majeure
Amendment Conditions
Document Examination
Discrepancy Handling
Reimbursement Obligations
Bank Charges
Notice Requirements
Compliance Standards
Fraud Prevention
Sanctions Compliance
Currency Designation
Credit Availability
Expiry Conditions
Document Presentation
Payment Terms
Shipping Terms
Document Requirements
Bank Undertaking
Transfer Rights
Governing Law
Force Majeure
Amendment Conditions
Document Examination
Discrepancy Handling
Reimbursement Obligations
Bank Charges
Notice Requirements
Compliance Standards
Fraud Prevention
Sanctions Compliance
Relevant Industries
Banking and Financial Services
International Trade
Manufacturing
Retail
Wholesale
Agriculture
Mining
Electronics
Textiles
Automotive
Chemical Industry
Consumer Goods
Industrial Equipment
Commodities Trading
Relevant Teams
Finance
International Trade
Procurement
Treasury
Supply Chain
Operations
Legal
Compliance
Risk Management
Banking Relations
Relevant Roles
Trade Finance Manager
Import Manager
International Trade Specialist
Finance Director
Treasury Manager
Procurement Manager
Supply Chain Manager
Credit Controller
Documentary Credits Specialist
Banking Relations Manager
Chief Financial Officer
International Business Development Manager
Compliance Officer
Risk Manager
Operations Manager
Find the exact document you need
Credit Note Letter To Customer
A Malaysian-compliant business document that formally acknowledges a reduction in a customer's payment obligation to a company, typically issued to correct billing errors or process returns.
find out more
Letter Of Credit Rates
A Malaysian banking document outlining the fee structure and commission rates for Letter of Credit services, governed by Malaysian financial regulations and banking laws.
find out more
Credit Limit Approval Letter To Customer
A Malaysian-compliant formal letter from a financial institution approving and establishing terms for a customer's credit facility.
find out more
Credit Application Request Letter
A formal letter requesting credit facilities from a Malaysian financial institution, complying with local banking regulations and requirements.
find out more
Letter Of Credit Limit
A Malaysian law-governed banking facility document establishing terms for issuing Letters of Credit up to an approved limit.
find out more
SBLC As Collateral
Malaysian law-governed agreement establishing terms for using a Standby Letter of Credit as collateral security, incorporating local banking regulations and international practices.
find out more
Lc Invoice
A specialized commercial invoice document used in Letter of Credit transactions under Malaysian law, combining standard invoice elements with specific LC requirements for international trade.
find out more
Cash Letter Credit
A Malaysian-law governed banking instrument representing an irrevocable payment commitment from a bank to a beneficiary, subject to document compliance.
find out more
Marginal Deposit On Letter Of Credit
A Malaysian law-governed agreement establishing terms for a marginal deposit as security for a Letter of Credit facility, complying with local banking regulations and facilitating international trade financing.
find out more
Lc Agreement
A Malaysian law-governed agreement establishing terms and conditions for Letter of Credit issuance and management, complying with local banking regulations and international standards.
find out more
Lc Export Import
A Malaysian-compliant Letter of Credit document that facilitates secure international trade payments, governed by local banking laws and UCP 600.
find out more
SBLC For Buyers Credit
A Malaysian law-governed bank guarantee instrument supporting buyer's credit facilities in commercial transactions, providing payment security to creditors.
find out more
Letter Of Credit Collection
A Malaysian-compliant banking instruction document for international trade payment collection through Letter of Credit, governed by local financial regulations and international banking standards.
find out more
180 Days Usance Lc
A Malaysian law-governed Letter of Credit providing 180-day deferred payment terms for international trade transactions, combining local regulatory requirements with international banking practices.
find out more
Letter Of Credit Risk
A Malaysian jurisdiction risk assessment and management framework for Letter of Credit transactions, covering both conventional and Islamic banking requirements.
find out more
Letter Of Credit Fraud
A Malaysian law-governed document addressing letter of credit fraud in international trade, incorporating local banking regulations and international banking practices.
find out more
Letter Of Credit Amount
A Malaysian banking document specifying the amount and terms of a letter of credit, governed by Bank Negara Malaysia regulations and international UCP 600 guidelines.
find out more
Credit Facility Offer Letter
A Malaysian-compliant formal letter from a financial institution offering credit facilities to a borrower, detailing key terms and conditions under Malaysian banking regulations.
find out more
Cash Collateralized Letter Of Credit
Malaysian law-governed agreement for a cash-backed letter of credit facility, establishing terms between bank, applicant, and beneficiary.
find out more
SBLC At Sight
A Malaysian-law governed Standby Letter of Credit that provides immediate payment guarantee upon presentation of compliant documents.
find out more
Usance Lc Discounting
Malaysian law-governed agreement for discounting of Usance Letters of Credit between financial institutions and beneficiaries.
find out more
Revolving SBLC
A Malaysian law-governed revolving standby letter of credit agreement establishing terms for an automatically renewable financial guarantee facility.
find out more
Payment Terms Dlc
Malaysian-law governed payment terms document for Documentary Letter of Credit transactions, establishing secure international trade payment conditions.
find out more
Non Transferable SBLC
A Malaysian law-governed Non-Transferable Standby Letter of Credit that provides payment guarantee to a specific beneficiary, with explicit prohibition on transfer or assignment.
find out more
Non Operative SBLC
A Malaysian-law governed standby letter of credit serving as a bank guarantee for payment or performance obligations, subject to Malaysian banking regulations.
find out more
Negotiable Lc
A Malaysian law-governed banking instrument that provides payment security in international trade through a negotiable letter of credit structure.
find out more
Mixed Payment Lc
A Malaysian-compliant financial instrument that combines multiple payment methods in a Letter of Credit for international trade transactions.
find out more
Irrevocable Non Transferable Letter Of Credit
A Malaysian law-governed banking instrument that provides an irrevocable and non-transferable payment guarantee in international trade, subject to document compliance.
find out more
Direct Pay Standby Letter Of Credit
A Malaysian law-governed standby letter of credit providing payment security through an irrevocable bank undertaking, subject to document compliance.
find out more
Credit Card Clearance Letter
A Malaysian banking document confirming complete settlement and closure of a credit card account, issued by the card-issuing bank.
find out more
Freely Negotiable Letter Of Credit
A Malaysian-governed banking instrument that provides payment assurance in international trade, allowing negotiation at any bank worldwide.
find out more
Transferable Lc At Sight
A Malaysian-compliant financial instrument allowing transfer of letter of credit rights to second beneficiaries with payment at sight, governed by UCP 600 and local banking regulations.
find out more
Straight Letter Of Credit
A Malaysian law-governed banking instrument providing direct, irrevocable payment commitment in international trade transactions.
find out more
Small Business Letter Of Credit
A Malaysian-law governed Letter of Credit document tailored for small business transactions, providing payment security in international trade.
find out more
Secured Letter Of Credit
A Malaysian law-governed financial instrument combining a traditional letter of credit with security arrangements, providing enhanced protection for the issuing bank through collateral requirements.
find out more
Red Letter Of Credit
A Malaysian-governed banking instrument that provides payment security in international trade transactions, subject to Malaysian banking regulations and UCP 600.
find out more
Loan Facility Letter
A Malaysian law-governed document issued by financial institutions outlining approved loan facility terms and conditions, compliant with local banking regulations and Financial Services Act 2013.
find out more
Non Operative Letter Of Credit
A Malaysian law-governed banking instrument that provides conditional payment guarantee in international trade, pending activation upon fulfillment of specified conditions.
find out more
Letter Of Credit 90 Days
A Malaysian law-governed trade finance instrument providing 90-day deferred payment terms with bank-guaranteed security for international trade transactions.
find out more
Letter Of Credit 60 Days
A Malaysian-law governed Letter of Credit providing 60-day deferred payment terms for international trade transactions, regulated under local banking laws and UCP 600.
find out more
Genie’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; Genie’s 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
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)
.png)