Letter Of Credit Available With for Qatar

Letter Of Credit Available With Template for Qatar

A Letter of Credit Available With is a crucial financial instrument used in international trade under Qatar's jurisdiction, governed by both local regulations and international banking standards (UCP 600). This document represents a bank's irrevocable commitment to pay the beneficiary a specified amount upon presentation of compliant documents. Under Qatar law, it incorporates both conventional banking practices and Islamic banking principles, providing a secure payment mechanism for international trade transactions while ensuring compliance with local regulatory requirements and Shariah principles where applicable.

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What is a Letter Of Credit Available With?

The Letter of Credit Available With is a fundamental instrument in international trade finance, particularly relevant in Qatar's growing economy. This document type is specifically designed to facilitate secure international trade transactions where the Letter of Credit is made available with a nominated bank, whether for sight payment, deferred payment, acceptance, or negotiation. It's governed by Qatar's banking regulations, including Qatar Central Bank Law No. 13 of 2012, while also adhering to international UCP 600 standards. The document is essential when businesses require a secure payment method in international trade, providing details of the credit availability, required documents, payment terms, and conditions. It's particularly important in Qatar's context where transactions must often comply with both conventional and Islamic banking principles, making it a vital tool for businesses engaged in international trade within the region.

What sections should be included in a Letter Of Credit Available With?

1. Issuing Bank Details: Complete details of the bank issuing the LC including name, branch, SWIFT code, and contact information

2. LC Number and Date: Unique LC reference number and date of issuance

3. Applicant Details: Full name and address of the party requesting the LC (typically the buyer)

4. Beneficiary Details: Full name and address of the party in whose favor the LC is issued (typically the seller)

5. Currency and Amount: Specified currency and amount of the LC in both figures and words

6. Expiry Date and Place: Clear statement of when and where the LC expires

7. Available With: Specification of the bank where the LC is available and method of availability (sight, deferred payment, etc.)

8. Document Requirements: Detailed list of required documents for LC presentation

9. Shipment Terms: Details of shipment including latest shipment date and partial shipments/transshipment conditions

10. Description of Goods/Services: Precise description of the goods or services covered by the LC

11. Payment Terms: Specific conditions and timing of payment

What sections are optional to include in a Letter Of Credit Available With?

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

2. Revolving Terms: Include for revolving LCs specifying the revolving conditions and reinstatement terms

3. Red Clause: Include when advance payment provisions are required

4. Back-to-Back Provisions: Include when the LC is part of a back-to-back arrangement

5. Islamic Banking Compliance: Include specific provisions ensuring compliance with Shariah principles when required

6. Special Instructions: Any additional instructions or conditions specific to the transaction

What schedules should be included in a Letter Of Credit Available With?

1. Document Checklist: Detailed checklist of all required documents and their specifications

2. Commercial Invoice Requirements: Specific requirements for the format and content of commercial invoices

3. Transport Document Requirements: Detailed specifications for required transport documents

4. Bank Fee Schedule: Schedule of all applicable bank charges and fees

5. Amendment Form: Standard form for requesting amendments to the LC

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

Qatar

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

Oil and Gas

Construction

Retail

Agriculture

Automotive

Electronics

Textiles

Mining

Chemical Industry

Pharmaceutical

Food and Beverage

Relevant Teams

Legal

Finance

International Trade

Treasury

Compliance

Risk Management

Trade Operations

Banking Operations

Corporate Banking

Documentary Credits

Supply Chain

Procurement

Relevant Roles

Trade Finance Manager

International Business Director

Finance Director

Treasury Manager

Import/Export Manager

Compliance Officer

Credit Manager

Banking Operations Manager

Trade Operations Officer

Documentary Credits Specialist

Chief Financial Officer

Risk Manager

Corporate Banking Officer

Supply Chain Manager

Procurement 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

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