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A Restricted Letter of Credit is a crucial financial instrument in international trade, particularly relevant in the Malaysian context where it operates under the Financial Services Act 2013 and UCP 600 regulations. This document type is specifically used when parties wish to limit the negotiation of the letter of credit to designated banks, providing additional security and control over the transaction. It's typically employed in situations where the issuing bank wants to maintain strict control over the payment process or when dealing with specific trading routes or partners. The document includes comprehensive details about the transaction, including the parties involved, payment terms, document requirements, and specific restrictions on bank negotiation. Used extensively in Malaysian international trade, it provides a secure payment mechanism while ensuring compliance with both local banking regulations and international banking practices.

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

2. Letter Reference Number: Unique identification number for the Letter of Credit

3. Date of Issuance: The official date when the Letter of Credit is issued

4. Beneficiary Details: Complete name and address of the party receiving the Letter of Credit (typically the seller)

5. Applicant Details: Complete name and address of the party requesting the Letter of Credit (typically the buyer)

6. Currency and Amount: The currency and maximum amount for which the Letter of Credit is valid

7. Expiry Date: The date until which the Letter of Credit remains valid

8. Place of Expiry: Location where the Letter of Credit expires

9. Restriction Details: Specific details of how the credit is restricted (typically to named banks)

10. Payment Terms: Conditions under which payment will be made, including timing and method

11. Required Documents: List of documents that must be presented for payment

12. Shipment Terms: Details about shipment including latest shipment date and partial shipments if applicable

13. Governing Law: Statement that the Letter of Credit is subject to Malaysian law and UCP 600