The Non-Transferable Letter of Credit is a crucial trade finance instrument used when parties require a secure payment method but want to restrict the beneficiary's ability to transfer drawing rights. Under Singapore law, this document type provides certainty in international trade transactions by combining the security of a bank's payment undertaking with the restriction that only the named beneficiary can draw under the credit. The LC Non Transferable format is particularly relevant when the applicant wants to ensure that only the specific beneficiary they have chosen can receive payment, preventing any unauthorized transfer of rights or obligations.
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1. LC Reference Number: Unique identifier for the Letter of Credit
2. Issuing Bank Details: Complete information of the bank issuing the LC
3. Applicant Details: Full information of the party requesting the LC
4. Beneficiary Details: Complete information of the party in whose favor the LC is issued
5. Amount and Currency: Specified amount and currency of the LC
6. Expiry Date: Validity period of the LC
7. Non-Transferability Clause: Explicit statement that the LC cannot be transferred
1. Partial Shipments: Section specifying whether partial shipments are allowed - used for trade-related LCs involving goods shipment
2. Transhipment: Section specifying whether transhipment is permitted - used for international trade transactions
3. Insurance Coverage: Section detailing insurance requirements - used when shipping terms require insurance coverage
1. Required Documents: Schedule listing all documents required for LC presentation
2. Payment Terms: Schedule detailing payment conditions and timeline
3. Goods Description: Schedule containing detailed description of goods (if trade-related)
Relevant legal definitions
Letter of Credit
Issuing Bank
Applicant
Beneficiary
Advising Bank
Presentation
Documents
Complying Presentation
Banking Day
Credit
Expiry Date
Honor
Negotiation
UCP 600
Notification
Place of Expiry
Banking Charges
Credit Amount
Available With
Non-Transferable
Goods
Commercial Invoice
Transport Documents
Insurance Documents
Place of Taking in Charge
Port of Loading
Port of Discharge
Final Destination
Latest Date of Shipment
Presentation Period
Issuing Bank
Applicant
Beneficiary
Advising Bank
Presentation
Documents
Complying Presentation
Banking Day
Credit
Expiry Date
Honor
Negotiation
UCP 600
Notification
Place of Expiry
Banking Charges
Credit Amount
Available With
Non-Transferable
Goods
Commercial Invoice
Transport Documents
Insurance Documents
Place of Taking in Charge
Port of Loading
Port of Discharge
Final Destination
Latest Date of Shipment
Presentation Period
Clauses
Form of Credit
Availability and Expiry
Amount and Currency
Payment Terms
Document Requirements
Non-Transferability
Bank Obligations
Presentation Requirements
Examination Period
Discrepancies
Force Majeure
Disclaimers
Bank Charges
Reimbursement
Governing Law
Jurisdiction
Notices
Amendment Conditions
Document Compliance
Transport Conditions
Insurance Requirements
Description of Goods
Shipment Terms
Partial Shipments
Transhipment
Late Presentation
Assignment of Proceeds
Communication Methods
Default Events
Dispute Resolution
Availability and Expiry
Amount and Currency
Payment Terms
Document Requirements
Non-Transferability
Bank Obligations
Presentation Requirements
Examination Period
Discrepancies
Force Majeure
Disclaimers
Bank Charges
Reimbursement
Governing Law
Jurisdiction
Notices
Amendment Conditions
Document Compliance
Transport Conditions
Insurance Requirements
Description of Goods
Shipment Terms
Partial Shipments
Transhipment
Late Presentation
Assignment of Proceeds
Communication Methods
Default Events
Dispute Resolution
Relevant Industries
Relevant Teams
Relevant Roles
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