The Secured Letter of Credit is a crucial document in international trade finance, particularly within the Saudi Arabian context where it must comply with both international banking standards and Islamic law. This document is typically used when parties seek to engage in cross-border trade with enhanced security measures for the issuing bank. The Secured Letter of Credit provides additional protection through collateral or other security arrangements while ensuring compliance with Shariah principles. It is commonly used in large-value transactions or when dealing with new trading partners, incorporating specific requirements for documentation, payment terms, and security arrangements. The document must adhere to Saudi Arabian banking regulations, SAMA guidelines, and Islamic banking principles, making it a specialized instrument that bridges international trade practices with local legal and religious requirements.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Ƶ's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
1. Bank Details and Reference: Issuing bank's details, LC reference number, and date of issuance
2. Applicant Information: Complete details of the party requesting the LC, including full legal name, address, and registration details
3. Beneficiary Information: Complete details of the party in whose favor the LC is issued
4. Currency and Amount: Specification of the LC amount and currency, written in both numbers and words
5. Underlying Transaction: Description of the commercial transaction for which the LC is issued, including reference to relevant contracts
6. Security Details: Specification of the security/collateral provided, including type, value, and terms of the security
7. Expiry Details: Expiry date and place of the LC
8. Documentation Requirements: List of required documents for LC utilization, including specific requirements for each document
9. Payment Terms: Terms and conditions of payment, including method and timing
10. Shariah Compliance Declaration: Statement confirming the LC's compliance with Islamic banking principles
11. Governing Law and Jurisdiction: Reference to Saudi Arabian law and relevant jurisdictional details
1. Partial Shipments/Drawings: Include when partial shipments or drawings are permitted under the LC
2. Transhipment Terms: Include when specific transhipment arrangements need to be specified
3. Insurance Requirements: Include when specific insurance requirements need to be detailed
4. Special Conditions: Include when there are additional requirements or conditions specific to the transaction
5. Bank-to-Bank Reimbursement: Include when involving correspondent banks or specific reimbursement arrangements
6. Force Majeure Provisions: Include when specific force majeure conditions need to be addressed
7. Amendment Procedures: Include when specific procedures for LC amendments need to be detailed
1. Schedule 1 - Security Details: Detailed description of security/collateral including valuation certificates and registration details
2. Schedule 2 - Document Checklist: Comprehensive checklist of required documents with specific format and content requirements
3. Schedule 3 - Fee Schedule: Breakdown of all applicable fees and charges in Shariah-compliant format
4. Appendix A - Form of Demand: Standard format for presentation of documents and demand for payment
5. Appendix B - Security Documentation: Forms and formats for security registration and perfection
6. Appendix C - Shariah Approvals: Copies of relevant Shariah board approvals and certifications
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
International Trade
Manufacturing
Import/Export
Retail
Construction
Oil and Gas
Mining
Agriculture
Telecommunications
Healthcare
Industrial Equipment
Automotive
Consumer Goods
Relevant Teams
Legal
Trade Finance
Risk Management
Compliance
Corporate Banking
International Banking
Treasury
Credit Administration
Trade Operations
Documentary Credits
Shariah Advisory
Financial Control
Relevant Roles
Trade Finance Manager
Credit Risk Officer
International Banking Manager
Compliance Officer
Legal Counsel
Shariah Compliance Officer
Treasury Manager
Commercial Banking Director
Trade Operations Manager
Documentary Credits Specialist
Corporate Banking Manager
Import/Export Manager
Chief Financial Officer
Risk Management Director
Banking Operations Manager
Find the exact document you need
Irrevocable Lc At Sight
A Saudi Arabian-compliant irrevocable financial instrument guaranteeing immediate payment in international trade upon presentation of compliant documents.
find out more
Import Bill Under Lc
A legal framework for import Letters of Credit transactions under Saudi Arabian law, governing documentary credit operations and ensuring compliance with local and international banking regulations.
find out more
Lc Sight And Usance
A Saudi Arabian-governed Letter of Credit document combining Sight and Usance payment terms, ensuring secure international trade transactions while complying with Islamic banking principles.
find out more
Letter Of Credit Limit
A Saudi Arabian banking facility document establishing a maximum limit for issuing Letters of Credit, governed by Saudi law and Shariah principles.
find out more
Nominated Bank In Letter Of Credit
A Saudi law-governed agreement establishing a bank's authority and obligations as a Nominated Bank in Letter of Credit transactions.
find out more
Lc Confirming Bank
A Saudi Arabian law-governed agreement establishing terms for Letter of Credit confirmation between banks, incorporating Shariah compliance and SAMA regulations.
find out more
Marginal Deposit On Letter Of Credit
Saudi Arabian law-governed agreement establishing terms for a marginal deposit against a letter of credit, compliant with Islamic banking principles.
find out more
Usance Lc 90 Days
A Saudi Arabian law-governed trade finance instrument providing for payment 90 days after document presentation, structured in compliance with both international banking standards and Islamic finance principles.
find out more
Standby Guarantee
A Saudi Arabian law-governed bank guarantee providing financial security in commercial transactions, structured in compliance with Shariah principles and SAMA regulations.
find out more
Collateral For Letter Of Credit
Saudi Arabian law-governed agreement establishing collateral arrangements for securing a letter of credit, incorporating both conventional banking and Shariah compliance requirements.
find out more
Application For Letter Of Credit
A formal banking document used in Saudi Arabia to request the issuance of a Letter of Credit, complying with Saudi banking laws and Shariah principles.
find out more
Usance Lc Discounting
A Saudi Arabian law-governed agreement for Shariah-compliant discounting of Usance Letters of Credit, facilitating trade finance transactions.
find out more
Mixed Payment Lc
A Saudi Arabian financial instrument combining immediate and deferred payment terms for international trade, governed by Saudi law and Sharia principles.
find out more
Transferable Lc At Sight
A Shariah-compliant financial instrument under Saudi Arabian law that provides for immediate payment upon document presentation, with the ability to transfer the credit to other beneficiaries.
find out more
Straight Letter Of Credit
A Saudi Arabian-compliant banking instrument providing an irrevocable payment commitment in international trade, subject to document compliance and local regulations.
find out more
Secured Letter Of Credit
A Shariah-compliant Secured Letter of Credit document under Saudi Arabian law, providing secured payment assurance for international trade transactions.
find out more
Line Of Credit Letter
A Shariah-compliant letter establishing a credit facility issued by a Saudi Arabian bank, outlining credit terms and conditions under Saudi law.
find out more
Letter Of Credit 90 Days
A 90-day Letter of Credit document under Saudi Arabian law, providing secured payment terms for international trade transactions with Shariah-compliant provisions.
find out more
Letter Of Credit 60 Days
A 60-day Letter of Credit document governed by Saudi Arabian law, providing secured payment terms for international trade transactions under UCP 600 and local banking regulations.
find out more
Letter Of Credit 30 Days
A Shariah-compliant 30-day Letter of Credit document under Saudi Arabian jurisdiction, providing secured payment terms for international trade transactions.
find out more
Inland Letter Of Credit
A Saudi Arabian law-governed Inland Letter of Credit document that facilitates secure domestic trade transactions in compliance with SAMA regulations and Shariah principles.
find out more
Discrepancy Letter Of Credit
A formal notification document used in Saudi Arabian banking that identifies and communicates discrepancies in Letter of Credit documentation, complying with both local and international banking standards.
find out more
Beneficiary In Letter Of Credit
A Saudi Arabian law-governed document specifying beneficiary rights and obligations under a Letter of Credit, combining local banking regulations with international trade standards.
find out more
Bank To Bank Lc
Bank to Bank LC agreement under Saudi Arabian law, incorporating Islamic banking principles and international LC standards.
find out more
Trade Finance Letter Of Credit
A Sharia-compliant Trade Finance Letter of Credit under Saudi Arabian law, providing secure payment mechanism for international trade transactions.
find out more
Unconditional Letter Of Credit
A Saudi Arabian law-governed banking instrument that provides an unconditional guarantee of payment from issuing bank to beneficiary, combining local regulations with international banking standards.
find out more
Synthetic Letter Of Credit
A Saudi Arabian law-governed banking instrument combining traditional letter of credit features with synthetic structures, designed for international trade financing while ensuring Shariah compliance.
find out more
Structured Letter Of Credit
A Saudi Arabian law-governed financial instrument that provides structured, Sharia-compliant payment security in international trade transactions.
find out more
Revolving Letter Of Credit
A Shariah-compliant Revolving Letter of Credit document under Saudi Arabian law, providing for automatic credit reinstatement in international trade transactions.
find out more
Restricted Letter Of Credit
A Sharia-compliant Restricted Letter of Credit under Saudi Arabian law, providing secure payment in international trade while limiting credit transferability.
find out more
Outstanding Letter Of Credit
A Saudi Arabia-governed letter of credit document that serves as a bank's undertaking to pay a beneficiary upon presentation of compliant documents, following local laws and Islamic banking principles.
find out more
Operative Letter Of Credit
A Shariah-compliant Letter of Credit document under Saudi Arabian law, facilitating secure international trade payments between parties through banking channels.
find out more
Non Negotiable Letter Of Credit
A Saudi Arabian banking instrument that provides payment guarantee in international trade, compliant with Islamic banking principles and SAMA regulations.
find out more
Negotiable Letter Of Credit
A Saudi Arabian law-governed Negotiable Letter of Credit that serves as a bank-guaranteed payment instrument in international trade transactions, compliant with both Sharia law and UCP 600.
find out more
Letter Of Credit Facility
A Saudi Arabian Letter of Credit facility agreement combining international banking practices with Sharia law requirements for trade finance operations.
find out more
Letter Of Credit Amendment
A formal banking document that modifies an existing Letter of Credit terms under Saudi Arabian jurisdiction and SAMA regulations.
find out more
Lease Letter Of Credit
A Sharia-compliant financial instrument under Saudi Arabian law that secures lease payment obligations through a bank's irrevocable commitment to pay a landlord on behalf of a tenant.
find out more
Fixed Letter Of Credit
A bank-issued payment guarantee document under Saudi Arabian law that provides a fixed, irrevocable commitment to pay upon presentation of compliant documents.
find out more
Divisible Letter Of Credit
A Sharia-compliant banking instrument under Saudi Arabian law that allows for multiple partial drawings against a total credit amount in international trade transactions.
find out more
Direct Letter Of Credit
A Saudi Arabian-compliant banking instrument that provides payment security in international trade transactions, governed by Saudi law and Sharia principles.
find out more
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)