The Evergreen Letter of Credit is a specialized banking instrument used in Qatar for ongoing trade relationships requiring continuous financial security. It automatically renews for successive periods unless specific notice of non-renewal is given, providing long-term security for international trade transactions. This document is particularly relevant in Qatar's growing economy, where it facilitates major infrastructure projects, energy sector transactions, and international trade operations. The structure must comply with Qatar's Commercial Code, Banking Law, and Qatar Central Bank regulations, while also adhering to international banking practices under UCP 600. It can be issued in both conventional and Shariah-compliant formats, reflecting Qatar's dual banking system.
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1. Issuing Bank Details: Complete details of the issuing bank including name, branch, address, and SWIFT code
2. Beneficiary Information: Full details of the beneficiary including name, address, and account information
3. Applicant Information: Complete details of the applicant requesting the LC including name, address, and reference numbers
4. Credit Number and Type: LC number and specification that this is an evergreen/automatically renewable LC
5. Currency and Amount: The currency and maximum amount of the credit
6. Automatic Renewal Clause: Specific terms of automatic renewal including the renewal period and conditions
7. Expiry Mechanism: Details of how and when the LC can be terminated, including notice periods
8. Available With/By: Terms of availability and method of payment (sight, deferred payment, etc.)
9. Required Documents: List of documents required for presentation
10. Shipment Terms: Details of shipment including latest shipment date if applicable
11. Presentation Period: Timeline for document presentation after shipment
1. Transferability Clause: Include when the LC needs to be transferable to another beneficiary
2. Islamic Banking Compliance: Required when the LC needs to conform to Shariah principles
3. Confirmation Instructions: Include when confirmation by another bank is required
4. Revolving Terms: Include when the LC needs to revolve in value as well as time
5. Special Payment Conditions: Include when there are specific payment terms or conditions
6. Red Clause: Include when advance payment provisions are required
1. Schedule A - Document Requirements: Detailed list of required documents and their specific format requirements
2. Schedule B - Fee Structure: Breakdown of all applicable fees, charges, and commission rates
3. Schedule C - Amendment Procedures: Procedures for amending the LC terms and conditions
4. Appendix 1 - Standard Presentation Format: Template for document presentation
5. Appendix 2 - Notice Templates: Standard templates for various notices including non-renewal notice
6. Appendix 3 - Bank Contact Details: Complete contact information for all relevant bank departments
Relevant legal definitions
Advising Bank
Amendment
Applicant
Automatic Renewal Date
Banking Day
Beneficiary
Confirmation
Confirming Bank
Credit
Documents
Evergreen Period
Expiry Date
Force Majeure
Governing Law
Instructions
Issuing Bank
Letter of Credit
Non-Renewal Notice
Nominated Bank
Notice Period
Presentation
Qatar Business Day
Qatar Central Bank
Renewal Term
Required Documents
Shariah Principles
SWIFT
Term
UCP 600
Underlying Transaction
Amendment
Applicant
Automatic Renewal Date
Banking Day
Beneficiary
Confirmation
Confirming Bank
Credit
Documents
Evergreen Period
Expiry Date
Force Majeure
Governing Law
Instructions
Issuing Bank
Letter of Credit
Non-Renewal Notice
Nominated Bank
Notice Period
Presentation
Qatar Business Day
Qatar Central Bank
Renewal Term
Required Documents
Shariah Principles
SWIFT
Term
UCP 600
Underlying Transaction
Clauses
Credit Amount and Currency
Automatic Renewal
Non-Renewal Notice
Document Presentation
Payment Terms
Bank Obligations
Expiry and Termination
Force Majeure
Assignment and Transfer
Fees and Charges
Amendments
Governing Law
Dispute Resolution
Notices
Compliance
Anti-Money Laundering
Sanctions
Document Requirements
Presentation Period
Bank Communications
Default Events
Islamic Banking Compliance
Confirmation Terms
Availability
Liability and Indemnity
Automatic Renewal
Non-Renewal Notice
Document Presentation
Payment Terms
Bank Obligations
Expiry and Termination
Force Majeure
Assignment and Transfer
Fees and Charges
Amendments
Governing Law
Dispute Resolution
Notices
Compliance
Anti-Money Laundering
Sanctions
Document Requirements
Presentation Period
Bank Communications
Default Events
Islamic Banking Compliance
Confirmation Terms
Availability
Liability and Indemnity
Relevant Industries
Banking and Financial Services
International Trade
Oil and Gas
Construction and Infrastructure
Manufacturing
Retail and Wholesale
Telecommunications
Healthcare
Technology and Software
Transportation and Logistics
Energy and Utilities
Real Estate Development
Relevant Teams
Legal
Finance
Treasury
Trade Finance
Risk Management
Compliance
Procurement
International Banking
Credit Administration
Operations
Relevant Roles
Trade Finance Manager
Chief Financial Officer
Treasury Manager
Import/Export Manager
Finance Director
Banking Relationship Manager
Credit Manager
Commercial Director
Procurement Manager
Financial Controller
Risk Management Officer
Compliance Officer
Legal Counsel
Trade Operations Manager
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