Letters of Credit Without Recourse are essential financial instruments in international trade, particularly relevant under Pakistani banking and trade finance regulations. This document type is specifically used when the beneficiary (typically the exporter) needs assurance that once they have negotiated the LC with a bank, they cannot be held liable if the issuing bank fails to honor the payment. The LC Without Recourse provides additional security for exporters while complying with State Bank of Pakistan guidelines, UCP 600, and international banking practices. It's commonly used in high-value international trade transactions where exporters want to eliminate their post-negotiation payment risk. The document includes detailed specifications about the transaction, required documentation, payment terms, and explicitly states its non-recourse nature, making it a crucial tool for secure international trade financing in Pakistan.

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

2. Issuing Bank Details: Complete name, address, and SWIFT code of the issuing bank

3. Beneficiary Details: Full name and address of the beneficiary (exporter)

4. Applicant Details: Full name and address of the applicant (importer)

5. Currency and Amount: LC amount in figures and words, and specified currency

6. Expiry Date and Place: Validity period of the LC and place where documents must be presented

7. Non-Recourse Declaration: Clear statement of the non-recourse nature of the LC

8. Available With/By: Specification of nominated bank and method of availability (sight, deferred payment, etc.)

9. Partial Shipments/Transhipment: Whether partial shipments or transhipment is allowed or prohibited

10. Required Documents: Detailed list of all required shipping and commercial documents

11. Shipment Terms: Latest shipment date, port of loading/discharge, and delivery terms

12. Description of Goods: Detailed description of merchandise being traded

13. Payment Terms: Specific conditions and timing of payment

14. Bank Charges: Distribution of banking charges between parties