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Lc Non Transferable Template for United States

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Key Requirements PROMPT example:

Lc Non Transferable

"I need a Non-Transferable LC for importing industrial machinery from Germany worth EUR 500,000, with documentary requirements for partial shipments allowed and expiry date of March 15, 2025, to be issued by Wells Fargo under US law."

What is a Lc Non Transferable?

The LC Non Transferable document serves as a crucial instrument in international trade finance, particularly when the applicant wants to ensure that only the specified beneficiary can draw under the credit. This type of Letter of Credit is commonly used in the United States when buyers want to maintain control over their supply chain and prevent unauthorized parties from claiming payment. The document, governed by US law and international banking practices (UCP 600), outlines the terms of payment, documentary requirements, and specific conditions that must be met for the beneficiary to receive payment. It includes detailed specifications about document presentation, examination criteria, and payment terms while explicitly stating its non-transferable nature. This format is particularly relevant when dealing with direct suppliers or manufacturers, rather than intermediaries or traders.

What sections should be included in a Lc Non Transferable?

1. Letter Header: Bank letterhead, date, LC number, and contact information of the issuing bank

2. Beneficiary Details: Full name and address of the beneficiary to whom the LC is issued

3. Applicant Details: Full name and address of the applicant requesting the LC

4. Credit Amount: Specified amount and currency of the Letter of Credit

5. Availability & Expiry: How and where the credit is available, expiration date and place

6. Non-Transferability Declaration: Clear statement that the LC is non-transferable

7. Documentary Requirements: Detailed list of required documents for presentation

8. Shipment Terms: Shipping details including latest shipment date and partial shipments status

9. Presentation Period: Timeframe within which documents must be presented

10. Governing Law: Statement that the LC is subject to UCP 600 and US law

11. Authentication: Bank authorized signatures and authentication codes

What sections are optional to include in a Lc Non Transferable?

1. Revolving Terms: Include when the LC is revolving, specifying reinstatement terms

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

3. Green Clause: Include when storage-related advance payment provisions are needed

4. Tolerance Provisions: Include when quantity or amount tolerances are permitted

5. Transhipment Terms: Include when specific transhipment conditions need to be addressed

6. Insurance Requirements: Include when specific insurance coverage needs to be specified

7. Special Conditions: Include when additional conditions or requirements apply

What schedules should be included in a Lc Non Transferable?

1. Schedule A - Document Checklist: Detailed checklist of required documents and their specifications

2. Schedule B - Technical Specifications: Detailed product or service specifications if referenced in the LC

3. Schedule C - Banking Instructions: Specific banking details and instructions for payments

4. Appendix 1 - UCP 600 Reference: Relevant articles of UCP 600 applicable to this LC

5. Appendix 2 - Document Samples: Sample formats of required documents if specified by the issuing bank

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶ÒõÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions


































Clauses

























Relevant Industries

International Trade

Banking & Financial Services

Manufacturing

Import/Export

Retail

Commodities Trading

Agriculture

Energy

Mining

Telecommunications

Construction

Shipping & Logistics

Relevant Teams

Trade Finance

International Banking

Treasury

Operations

Legal

Compliance

Risk Management

Supply Chain

Finance

Credit Analysis

Documentary Credits

Trade Operations

Relevant Roles

Trade Finance Manager

Letter of Credit Specialist

International Banking Officer

Treasury Manager

Import Manager

Export Manager

Trade Operations Officer

Documentary Credits Manager

Compliance Officer

Risk Manager

Supply Chain Manager

Chief Financial Officer

Banking Relationship Manager

International Trade Specialist

Credit Analysis 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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