The Transferable LC At Sight is a vital financial instrument in international trade, particularly relevant under Indonesian law where it combines local regulatory requirements with international banking standards. This document is typically used when an intermediary trader or middleman needs to use the original letter of credit to pay their supplier. It contains detailed specifications about the transfer rights, document requirements, and payment terms, all governed by Indonesian banking regulations and UCP 600. The document becomes necessary when the first beneficiary is not the actual supplier of the goods and needs to transfer the credit to the actual supplier while maintaining their position in the trade chain. It provides security to all parties involved while ensuring compliance with both Indonesian financial regulations and international banking practices.
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1. Letter of Credit Number and Date: Unique identification number and issuance date of the LC
2. Form of Credit: Specification that this is a transferable LC at sight
3. Applicant Details: Full name, address, and contact information of the party requesting the LC
4. Beneficiary Details: Full name, address, and contact information of the original beneficiary
5. Issuing Bank Details: Name, address, and SWIFT code of the issuing bank
6. Credit Amount: Currency and amount of the LC, including any tolerance levels
7. Expiry Date and Place: Validity period and location where the LC expires
8. Transfer Terms: Specific conditions and requirements for transferring the LC
9. Document Requirements: List of required documents for presentation
10. Shipment Terms: Details of shipment including latest shipment date and partial shipments
11. Payment Terms: Specification of at sight payment terms and conditions
12. Bank Charges: Allocation of banking fees and charges
13. Special Conditions: Any additional terms or conditions specific to this LC
1. Advising Bank Details: Include when an advising bank is involved in the transaction
2. Confirmation Instructions: Include when confirmation is requested or required
3. Reimbursing Bank Details: Include when a separate reimbursing bank is designated
4. Transfer Restrictions: Include when there are specific limitations on transfer conditions
5. Insurance Requirements: Include when specific insurance coverage is required
6. Second Beneficiary Terms: Include when specific terms apply to second beneficiaries
7. Domestic Content Requirements: Include when required by Indonesian regulations for specific goods
1. Schedule A - Document Requirements: Detailed list and format of required documents for presentation
2. Schedule B - Goods Description: Detailed description of the goods or services covered by the LC
3. Schedule C - Transfer Instructions: Specific procedures and requirements for transferring the LC
4. Appendix 1 - UCP 600 References: Relevant articles of UCP 600 applicable to this LC
5. Appendix 2 - Bank Forms: Standard forms required for transfer requests and document presentation
6. Appendix 3 - Fee Schedule: Detailed breakdown of all applicable bank charges and fees
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
International Trade
Manufacturing
Import/Export
Logistics and Supply Chain
Commodities Trading
Retail
Agriculture
Mining and Resources
Textiles and Garments
Electronics and Technology
Construction Materials
Relevant Teams
Trade Finance
International Banking
Treasury
Documentary Credits
Risk Management
Compliance
Legal
Operations
Client Relations
Global Transaction Services
Trade Operations
Financial Control
Relevant Roles
Trade Finance Manager
International Banking Officer
Chief Financial Officer
Treasury Manager
Import/Export Manager
Documentary Credits Specialist
Trade Operations Officer
Compliance Officer
Risk Manager
Banking Relationship Manager
Supply Chain Manager
Finance Director
Trade Finance Analyst
Letter of Credit Specialist
International Trade Specialist
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