Acceptance Lc for Pakistan

Acceptance Lc Template for Pakistan

This document template provides the structure and requirements for an Acceptance Letter of Credit under Pakistani law, incorporating both domestic banking regulations and international trade practices (UCP 600). It outlines the terms and conditions under which a bank agrees to accept time drafts or bills of exchange drawn by the beneficiary, providing a guarantee of payment at maturity. The document includes specific provisions compliant with Pakistani banking regulations, State Bank of Pakistan guidelines, and relevant international trade laws, while ensuring adherence to Islamic banking principles where applicable.

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.

Download a Standard Template

4.6 / 5
4.8 / 5
Access for free
OR

Alternatively: Run an advanced review of an existing
Acceptance Lc

Let Genie AI's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
Upload your Doc

What is a Acceptance Lc?

The Acceptance LC (Letter of Credit) is a crucial trade finance instrument used in international commerce, particularly relevant under Pakistani jurisdiction. It is specifically designed for transactions where the buyer needs extended payment terms while providing the seller with a banker's acceptance that can be discounted for immediate financing. The document incorporates requirements from the State Bank of Pakistan, local banking regulations, and international trade practices (UCP 600). This type of LC is particularly useful in import/export transactions where there is a need to bridge the timing gap between goods delivery and payment, while ensuring compliance with Pakistani foreign exchange regulations and banking laws. The Acceptance LC provides security to both parties by having a bank accept time drafts or bills of exchange, effectively guaranteeing payment at a future date.

What sections should be included in a Acceptance Lc?

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

2. Issuing Bank Details: Complete details of the bank issuing the LC

3. Applicant Details: Full information of the party requesting the LC (typically the buyer)

4. Beneficiary Details: Complete information of the party in whose favor the LC is issued (typically the seller)

5. Amount and Currency: The credit amount and currency of the LC

6. Form of Credit: Specification that this is an Acceptance LC and its basic characteristics

7. Expiry Date and Place: The validity period and location where the LC expires

8. Shipment Terms: Details of shipment including latest shipment date and partial shipments allowance

9. Document Presentation Period: Timeframe within which documents must be presented after shipment

10. Required Documents: List of all documents required for presentation under the LC

11. Draft Requirements: Specifications for the bill of exchange/draft to be presented

12. Payment Terms: Details of when and how payment will be made upon acceptance

13. Bank Charges: Allocation of various banking charges between parties

14. Additional Conditions: Any specific conditions or requirements for the LC

What sections are optional to include in a Acceptance Lc?

1. Transferability Clause: Include when the LC needs to be transferable to another beneficiary

2. Revolving Credit Terms: Include when the LC is revolving in nature with automatic reinstatement provisions

3. Red Clause Provisions: Include when advance payment facilities are to be provided to the beneficiary

4. Back-to-Back LC Provisions: Include when the LC can be used as collateral for another LC

5. Confirmation Instructions: Include when confirmation from another bank is required

6. Islamic Banking Compliance: Include when the LC needs to comply with Islamic banking principles

7. Force Majeure Clause: Include when specific force majeure provisions are required beyond standard UCP terms

What schedules should be included in a Acceptance Lc?

1. Schedule A - Goods Description: Detailed specification of goods being traded under the LC

2. Schedule B - Price Schedule: Detailed breakdown of prices, units, and total amount

3. Schedule C - Shipping Terms: Detailed shipping instructions and requirements

4. Schedule D - Document Requirements: Detailed list of required documents with specific formatting requirements

5. Appendix 1 - Draft/Bill of Exchange Format: Template for the draft/bill of exchange to be presented

6. Appendix 2 - Bank Draft Instructions: Specific instructions for preparing and presenting bank drafts

7. Appendix 3 - Required Certifications: List and formats of required certificates

8. Appendix 4 - Authorized Signatories: List of authorized signatories for various documents

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Pakistan

Publisher

Genie AI

Document Type

Letter of Credit

Cost

Free to use
Relevant legal definitions
Clauses
Relevant Industries

Banking and Financial Services

International Trade

Manufacturing

Import/Export

Retail

Wholesale

Commodities Trading

Textiles

Agriculture

Automotive

Electronics

Construction

Pharmaceuticals

Energy

Relevant Teams

Trade Finance

International Banking

Credit Operations

Import Operations

Export Operations

Treasury

Documentary Credits

Compliance

Risk Management

Financial Control

Banking Operations

Legal Affairs

Customer Relations

Trade Operations

Relevant Roles

Trade Finance Manager

International Banking Officer

Credit Manager

Import Manager

Export Manager

Treasury Manager

Documentary Credits Specialist

Compliance Officer

Risk Manager

Financial Controller

Banking Operations Manager

Trade Operations Officer

Letter of Credit Specialist

International Trade Specialist

Banking Relationship Manager

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Payment Terms SBLC

A Pakistani law-governed document establishing payment terms and conditions for Standby Letters of Credit, compliant with local banking regulations and international standards.

find out more

Irrevocable Lc At Sight

An Irrevocable Letter of Credit at Sight under Pakistani law, providing a secure payment mechanism for international trade transactions with immediate payment upon document presentation.

find out more

Lc Sight And Usance

A bank-issued trade finance document under Pakistani jurisdiction that guarantees payment in international trade transactions, subject to UCP 600 rules and local banking regulations.

find out more

Letter Of Credit Limit

A Pakistani law-governed agreement establishing terms for a bank's issuance of Letters of Credit, complying with local banking regulations and international trade practices.

find out more

Application Letter For Lc

A formal application document used in Pakistan's banking system to request the opening of a Letter of Credit for international trade transactions, complying with local banking laws and UCP 600 guidelines.

find out more

Lc Payment Terms In Export

Standard terms for Letter of Credit payments in export transactions under Pakistani law, ensuring compliance with local banking regulations and international trade practices.

find out more

Personal Letter Of Credit

A bank-issued payment guarantee document under Pakistani law that provides financial security for personal or business transactions.

find out more

Standby Guarantee

A bank-issued guarantee under Pakistani law that provides financial security by ensuring payment upon demand if specified obligations are not met.

find out more

Letter Of Credit Fee

A Pakistani banking document outlining fees and terms for Letter of Credit services, governed by Pakistani banking laws and State Bank regulations.

find out more

Credit Facility Offer Letter

A formal letter issued by a Pakistani financial institution offering credit facilities to a borrower, outlining key terms and conditions under Pakistani banking laws.

find out more

Application For Letter Of Credit

A formal application document used in Pakistan to request a bank to issue a Letter of Credit for international trade transactions, subject to Pakistani banking laws and UCP 600.

find out more

SBLC Buyers

A Pakistani law-governed agreement establishing terms for issuing a Standby Letter of Credit, detailing parties' obligations and drawing conditions.

find out more

SBLC Backed Buyers Credit

A Pakistani law-governed financing agreement establishing an SBLC-backed buyer's credit facility, detailing credit terms, security arrangements, and regulatory compliance requirements.

find out more

Usance Lc Discounting

A Pakistani law-governed agreement for discounting deferred-payment letters of credit, enabling exporters to receive immediate financing against future LC payments.

find out more

Revolving SBLC

A Pakistani law-governed Revolving SBLC that provides automatically reinstating credit facilities, combining local banking regulations with international practices.

find out more

Payment Terms Dlc

A Pakistani law-governed agreement outlining payment terms and conditions for Documentary Letters of Credit in international trade transactions.

find out more

Non Transferable SBLC

A Pakistani law-governed Non-Transferable Standby Letter of Credit providing bank-guaranteed financial security, subject to State Bank of Pakistan regulations and international banking standards.

find out more

Negotiation Bank In Lc

A Pakistani law-governed agreement setting out terms for bank LC negotiation services, aligned with local banking regulations and international trade practices.

find out more

Letter Of Credit Discounting Charges

A Pakistani law-governed banking document that specifies the charges and terms for discounting a Letter of Credit, aligned with SBP regulations and international banking practices.

find out more

Cumulative Revolving Letter Of Credit

A Pakistani law-governed banking instrument establishing a renewable, cumulative letter of credit facility for international trade transactions, incorporating UCP 600 and local banking regulations.

find out more

Credit Card Clearance Letter

A formal Pakistani banking document confirming complete settlement of credit card dues and account closure, issued under local banking regulations.

find out more

Freely Negotiable Letter Of Credit

A banking instrument under Pakistani law that enables secure international trade payments with free negotiability at any bank, governed by local regulations and UCP 600.

find out more

Time Letter Of Credit

A Pakistani-law governed banking instrument that provides for deferred payment in international trade transactions, subject to document compliance and specific maturity terms.

find out more

Transferable Lc At Sight

A Pakistani-law governed transferable letter of credit providing immediate payment upon document presentation, enabling credit transfer from first to second beneficiary in international trade transactions.

find out more

Straight Letter Of Credit

A banking instrument used in international trade under Pakistani law that provides a direct, irrevocable payment commitment from the issuing bank to the beneficiary.

find out more

Small Business Letter Of Credit

A bank-issued payment guarantee document for small business trade transactions in Pakistan, complying with Pakistani banking laws and international trade practices.

find out more

Red Letter Of Credit

A specialized banking instrument under Pakistani law that provides pre-shipment financing facilities while guaranteeing payment in international trade transactions.

find out more

Local Letter Of Credit

A bank-issued payment guarantee document for domestic trade transactions within Pakistan, governed by Pakistani banking laws and denominated in Pakistani Rupees.

find out more

Loan Facility Letter

A formal document under Pakistani law that outlines loan facility terms between a lender and borrower, establishing the framework for the lending relationship.

find out more

Non Operative Letter Of Credit

A Pakistani law-governed banking instrument that demonstrates financial capability without being an operative credit instrument, typically used for tender submissions or proof of financial standing.

find out more

Letter Of Credit 90 Days

A bank-issued trade finance instrument under Pakistani law providing 90-day payment terms for international trade transactions, governed by local banking regulations and UCP 600.

find out more

Letter Of Credit 30 Days

A 30-day Letter of Credit document under Pakistani law, providing bank-guaranteed payment security for international trade transactions.

find out more

Installment Letter Of Credit

A Pakistani law-governed banking instrument that facilitates secured installment payments in trade transactions through bank-guaranteed letters of credit.

find out more

Inland Letter Of Credit

A bank-issued payment guarantee document used in domestic trade within Pakistan, providing security for both buyer and seller under Pakistani banking regulations.

find out more

Green Letter Of Credit

A Pakistan-law governed financial instrument that combines traditional letter of credit features with environmental criteria to facilitate sustainable international trade transactions.

find out more

Discrepancy Letter Of Credit

A Pakistani banking document that formally notifies parties of discrepancies in Letter of Credit documentation, governed by local banking laws and UCP 600.

find out more

Business Letter Of Credit

A banking instrument governed by Pakistani law that provides payment security in international trade transactions through bank-guaranteed payment commitment.

find out more

Bank To Bank Lc

A Pakistani law-governed agreement between banks establishing terms and procedures for handling Letters of Credit, aligned with local banking regulations and international standards.

find out more

Unrestricted Letter Of Credit

A Pakistani law-governed banking instrument that provides an unconditional payment guarantee for international trade transactions, subject to document compliance.

find out more

Unconditional Letter Of Credit

A bank-issued irrevocable payment guarantee under Pakistani law, providing unconditional payment commitment in international trade transactions.

find out more
See more related templates

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

2 Docs LeftAccess Now