The Irrevocable At Sight Letter of Credit is a fundamental trade finance instrument used in international commerce, particularly relevant under Malaysian jurisdiction where it's governed by both local banking regulations and international UCP 600 rules. This document is typically used when parties seek a secure payment method in cross-border transactions, especially when dealing with new trading partners or in countries with different legal systems. It provides security to sellers by guaranteeing payment upon correct document presentation while giving buyers assurance that payment will only be made when specified conditions are met. The 'at sight' feature ensures immediate payment upon document verification, while the 'irrevocable' nature means the credit cannot be modified or cancelled without agreement from all parties involved.
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 of Credit Number: Unique identifying number assigned by the issuing bank
2. Date of Issue: The date when the Letter of Credit is issued
3. Applicant Details: Full name and address of the party requesting the Letter of Credit (typically the buyer)
4. Beneficiary Details: Full name and address of the party in whose favor the Letter of Credit is issued (typically the seller)
5. Issuing Bank Details: Name, address, and SWIFT code of the bank issuing the Letter of Credit
6. Amount and Currency: The maximum amount and currency of the Letter of Credit
7. Expiry Date and Place: The final date and location for presentation of documents
8. Available With/By: Specifies the bank with which the credit is available and the manner of availability
9. Required Documents: Detailed list of documents that must be presented for payment
10. Shipment Terms: Details of shipment including latest shipment date and partial shipments if applicable
11. Payment Terms: Specification that payment is available at sight upon presentation of compliant documents
1. Advising Bank Details: Details of the bank advising the credit to the beneficiary, used when there's an intermediary bank
2. Transferability Clause: Statement regarding whether the Letter of Credit is transferable, included when the credit needs to be transferable
3. Confirmation Instructions: Instructions regarding confirmation of the Letter of Credit by another bank, included when confirmation is requested
4. Reimbursement Instructions: Details of reimbursement arrangements between banks, included for international transactions with different currencies
5. Special Conditions: Any additional terms or conditions specific to the transaction
6. Insurance Requirements: Specific insurance requirements beyond standard coverage, included when special insurance is needed
1. Document Presentation Schedule: Detailed timeline and requirements for document presentation
2. Fee Schedule: Breakdown of all banking charges and who bears them
3. Goods Description Schedule: Detailed description of the goods being traded, including specifications and quantities
4. Document Checklist: Comprehensive checklist of all required documents and their specific requirements
5. INCOTERMS Appendix: Detailed explanation of the applicable INCOTERMS rules for the transaction
Relevant legal definitions
Advising Bank
Banking Day
Bill of Exchange
Bill of Lading
Beneficiary
Commercial Invoice
Complying Presentation
Credit
Document
Expiry Date
Foreign Exchange Rate
Goods
Insurance Certificate
Issuing Bank
Letter of Credit
Negotiating Bank
Packing List
Presentation
Reimbursing Bank
Shipment
SWIFT
Trade Terms
Transport Document
UCP 600
Banking Day
Bill of Exchange
Bill of Lading
Beneficiary
Commercial Invoice
Complying Presentation
Credit
Document
Expiry Date
Foreign Exchange Rate
Goods
Insurance Certificate
Issuing Bank
Letter of Credit
Negotiating Bank
Packing List
Presentation
Reimbursing Bank
Shipment
SWIFT
Trade Terms
Transport Document
UCP 600
Clauses
Payment Terms
Document Requirements
Expiry and Presentation
Bank Obligations
Shipping Terms
Amendment Conditions
Force Majeure
Governing Law
Dispute Resolution
Bank Charges
Currency Provisions
Document Examination
Reimbursement
Notification Requirements
Disclaimers
Assignment
Compliance Requirements
Verification Process
Documentation Standards
Cancellation Conditions
Document Requirements
Expiry and Presentation
Bank Obligations
Shipping Terms
Amendment Conditions
Force Majeure
Governing Law
Dispute Resolution
Bank Charges
Currency Provisions
Document Examination
Reimbursement
Notification Requirements
Disclaimers
Assignment
Compliance Requirements
Verification Process
Documentation Standards
Cancellation Conditions
Relevant Industries
Banking and Financial Services
International Trade
Manufacturing
Import/Export
Retail
Commodities Trading
Shipping and Logistics
Agriculture
Oil and Gas
Electronics
Textiles
Construction Materials
Relevant Teams
Finance
International Trade
Treasury
Legal
Compliance
Trade Operations
Risk Management
Procurement
Supply Chain
Documentary Credits
Commercial Banking
Global Transaction Services
Relevant Roles
Trade Finance Manager
International Trade Specialist
Import/Export Manager
Financial Controller
Treasury Manager
Documentary Credit Specialist
Trade Operations Manager
Banking Relationship Manager
Compliance Officer
Chief Financial Officer
Supply Chain Manager
Procurement Manager
Credit Manager
International Business Development 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)