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The Non-Negotiable Letter of Credit is a fundamental trade finance instrument used in international commerce when parties seek a secure payment method with restricted transferability. This document is particularly relevant in Hong Kong's business environment, where it facilitates trade while providing security to both buyers and sellers. It is commonly used when the buyer's bank provides payment assurance to the seller, but the parties want to ensure that the payment rights remain with the original beneficiary only. The document includes crucial details such as payment terms, document requirements, shipping conditions, and compliance criteria. Under Hong Kong jurisdiction, these letters of credit are governed by local banking regulations and international standards like UCP 600, making them particularly suitable for transactions involving Hong Kong-based entities or cross-border trade with Asian partners. The non-negotiable nature specifically prevents the transfer of payment rights, providing additional control and security in the transaction.

1. Issuing Bank Details: Complete name, address, and SWIFT code of the issuing bank

2. Letter of Credit Number: Unique reference number assigned by the issuing bank

3. Date of Issue: Date when the letter of credit is issued

4. Applicant Details: Full name, address, and contact information of the party requesting the LC (usually the buyer)

5. Beneficiary Details: Full name, address, and contact information of the party in whose favor the LC is issued (usually the seller)

6. Currency and Amount: Specified currency and amount of the letter of credit in both figures and words

7. Expiry Date and Place: Date and location where the letter of credit expires

8. Available With/By: Specifies where and how the credit is available (payment, acceptance, or negotiation)

9. Required Documents: Detailed list of documents that must be presented for payment

10. Shipment Terms: Details of shipment including latest shipment date, partial shipments, and transhipment conditions

11. Description of Goods/Services: Precise description of the goods or services being traded

12. Payment Terms: Specific conditions under which payment will be made

13. Bank Charges: Allocation of banking charges between parties