The Transferable LC At Sight is essential in complex international trade transactions where intermediaries are involved. It enables middle-parties to facilitate trade without requiring substantial capital investment. Under Singapore law and international banking practices, this document provides a secure payment mechanism while allowing the original beneficiary to transfer their rights to suppliers. The Transferable LC At Sight specifies all transfer conditions, document requirements, and payment terms, ensuring compliance with UCP 600 and Singapore banking regulations.
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1. LC Number and Date: Section specifying the unique identifier and issuance date of the Letter of Credit
2. Bank Details: Section identifying the issuing bank, advising bank, and other relevant banking parties
3. Applicant Information: Full details of the party requesting the Letter of Credit including name, address, and contact information
4. Beneficiary Information: Complete details of the party in whose favor the LC is issued including name, address, and contact information
5. Currency and Amount: Specification of the LC value and currency, including both figures and words
6. Transfer Terms: Detailed conditions and requirements for transferring the LC to second beneficiaries
7. Payment Terms: Specification of at sight payment conditions and presentation requirements
8. Document Requirements: Comprehensive list of required documents for LC presentation and payment
9. Expiry Details: Specification of expiry date and place for document presentation
1. Partial Shipments: Optional clause specifying whether partial shipments are allowed or prohibited
2. Transhipment: Optional clause indicating whether transhipment is permitted or prohibited
3. Insurance Requirements: Optional section detailing specific insurance coverage requirements when applicable
4. Special Conditions: Additional terms or conditions specific to the transaction
1. Document Checklist: Detailed checklist of all required documents with specific requirements for each
2. Transfer Instructions Form: Standard form for requesting transfer of the LC to second beneficiaries
3. Bank Authorization Forms: Required banking forms and authorizations for LC transfer
4. Fee Schedule: Schedule of applicable banking charges and fees for LC transfer
Relevant legal definitions
Letter of Credit (LC)
Transferable Credit
At Sight
Issuing Bank
Advising Bank
Transferring Bank
Applicant
First Beneficiary
Second Beneficiary
Presentation
Complying Presentation
Banking Day
Transfer Date
Goods
Documents
Commercial Invoice
Transport Documents
Bill of Lading
Insurance Documents
Certificate of Origin
Packing List
Transfer Amount
Expiry Date
Place of Expiry
Latest Shipment Date
UCP 600
Governing Law
Force Majeure
Banking Charges
Reimbursement Bank
Transferable Credit
At Sight
Issuing Bank
Advising Bank
Transferring Bank
Applicant
First Beneficiary
Second Beneficiary
Presentation
Complying Presentation
Banking Day
Transfer Date
Goods
Documents
Commercial Invoice
Transport Documents
Bill of Lading
Insurance Documents
Certificate of Origin
Packing List
Transfer Amount
Expiry Date
Place of Expiry
Latest Shipment Date
UCP 600
Governing Law
Force Majeure
Banking Charges
Reimbursement Bank
Clauses
Transfer Terms and Conditions
Payment Terms
Document Requirements
Presentation and Examination
Bank Obligations
Expiry and Validity
Amendment Conditions
Shipping Terms
Force Majeure
Disclaimers
Bank Charges
Reimbursement
Notifications
Document Discrepancies
Governing Law
Jurisdiction
Assignment Rights
Anti-Money Laundering
Sanctions Compliance
Dispute Resolution
Fraud Protection
Default Events
Communications
Liability Limitations
Documentation Standards
Payment Terms
Document Requirements
Presentation and Examination
Bank Obligations
Expiry and Validity
Amendment Conditions
Shipping Terms
Force Majeure
Disclaimers
Bank Charges
Reimbursement
Notifications
Document Discrepancies
Governing Law
Jurisdiction
Assignment Rights
Anti-Money Laundering
Sanctions Compliance
Dispute Resolution
Fraud Protection
Default Events
Communications
Liability Limitations
Documentation Standards
Relevant Industries
Relevant Teams
Relevant Roles
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