An Irrevocable Revolving Letter of Credit is a crucial trade finance instrument used in international commerce, particularly relevant under Qatar's robust banking and trade framework. This document type is specifically designed for business relationships involving regular, recurring transactions where the same credit amount becomes available again after each utilization, either on a time or value basis. The irrevocable nature means the terms cannot be modified or canceled without agreement from all parties involved. The document must comply with Qatar Central Bank regulations, the Qatar Commercial Code, and international banking standards including UCP 600. It is particularly valuable for long-term supply contracts, regular import/export operations, and ongoing trade relationships where consistent financial security is required.
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1. Letter Reference and Date: Unique reference number and date of issuance
2. Bank Details: Full details of the issuing bank including name, address, and SWIFT code
3. Beneficiary Information: Complete details of the beneficiary including name, address, and account information
4. Applicant Information: Complete details of the applicant including name, address, and account information
5. Credit Amount and Currency: Specification of the maximum credit amount and currency
6. Revolving Terms: Details of how the credit revolves (time basis or value basis) and reinstatement conditions
7. Availability and Expiry: How and where the credit is available, expiry date and place
8. Required Documents: Detailed list of documents required for presentation
9. Shipment Terms: Details of shipment, latest shipment date, and partial shipments if applicable
10. Payment Terms: Specification of payment terms, sight, deferred payment, or acceptance
11. Banking Charges: Allocation of banking charges between parties
12. Governing Law and UCP Declaration: Reference to Qatar law and UCP 600 governance
1. Transferability Clause: Include when the credit needs to be transferable to other beneficiaries
2. Confirmation Instructions: Include when confirmation from another bank is required
3. Green Clause: Include when advance payment provisions are required
4. Red Clause: Include when pre-shipment finance is permitted
5. Islamic Banking Compliance: Include when the letter of credit needs to comply with Shariah principles
6. Special Instructions: Include when there are additional specific requirements or conditions
7. Assignment of Proceeds: Include when rights to proceeds need to be assignable
1. Schedule A - Commercial Invoice Requirements: Detailed specifications for acceptable commercial invoices
2. Schedule B - Transport Document Requirements: Specifications for bills of lading or other transport documents
3. Schedule C - Insurance Document Requirements: Details of required insurance documentation
4. Schedule D - Revolving Schedule: Detailed schedule of revolving periods and amounts
5. Appendix 1 - Document Presentation Schedule: Timeline and requirements for document presentation
6. Appendix 2 - Bank's Standard Charges: Schedule of applicable banking charges and fees
7. Appendix 3 - Specimen Signatures: Authorized signatures for the letter of credit
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
International Trade
Import/Export
Manufacturing
Commodities Trading
Oil and Gas
Retail
Wholesale Distribution
Construction
Maritime and Shipping
Agriculture
Mining
Relevant Teams
Trade Finance
International Banking
Documentary Credits
Treasury
Finance
Risk Management
Compliance
Legal
Operations
Credit Administration
Commercial Banking
Trade Operations
Relevant Roles
Trade Finance Manager
International Banking Officer
Documentary Credits Specialist
Treasury Manager
Finance Director
Import/Export Manager
Commercial Banking Officer
Credit Risk Officer
Compliance Officer
Chief Financial Officer
Trade Operations Manager
Letter of Credit Specialist
Banking Relationship Manager
International Trade Specialist
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