Document background
A Letter of Credit On Sight is essential in international trade transactions where immediate payment is required upon document presentation. It provides security to sellers who don't want to ship goods without payment assurance, and to buyers who want to ensure they only pay for properly documented shipments. Under English and Welsh law, this document type is particularly robust due to the jurisdiction's extensive experience in international trade and banking. The Letter of Credit On Sight typically includes detailed specifications about required documents, payment terms, and compliance requirements, all governed by UCP 600 rules and English banking regulations.
