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The LC Non Transferable document is essential for businesses engaged in international trade within the Philippine jurisdiction who seek to ensure secure payment while maintaining control over the beneficiary's identity. This type of Letter of Credit explicitly prohibits the original beneficiary from transferring their drawing rights to another party, providing additional security and control for the applicant. The document is structured according to Philippine banking regulations and the UCP 600, incorporating necessary elements such as detailed payment terms, document requirements, and compliance with local foreign exchange regulations. It's particularly relevant in situations where the applicant wants to ensure that only the specified beneficiary can draw under the credit, commonly used in specialized trade transactions or when dealing with specific suppliers. The document includes comprehensive details about the transaction, parties involved, payment terms, and required documentation, while ensuring compliance with both Philippine banking laws and international banking practices.

1. Letter Reference Number and Date: Unique identification number and issuance date of the LC

2. Bank Details: Full details of the issuing bank including name, branch, and contact information

3. Applicant Information: Complete details of the party requesting the LC (typically the buyer)

4. Beneficiary Information: Complete details of the party in whose favor the LC is issued (typically the seller)

5. Amount and Currency: The credit amount and currency specification

6. Validity Period: Expiry date and place for presentation of documents

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

8. Required Documents: Detailed list of documents required for presentation

9. Payment Terms: Conditions and timing of payment

10. Shipping Terms: Details of shipment, partial shipment permissions, and transshipment conditions

11. Governing Law Statement: Declaration that the LC is subject to Philippine law and UCP 600

12. Authentication: Bank's authorized signatures and authentication codes