The Letter of Credit 30 Days is a crucial trade finance instrument used in international commerce when parties seek a secure and relatively quick payment mechanism. This document is particularly relevant in Qatar's dynamic trading environment, where it bridges the gap between importers and exporters by providing bank-guaranteed payment within a 30-day timeframe. The LC incorporates specific requirements under Qatar law, including compliance with Qatar Central Bank regulations and the Commercial Law No. 27 of 2006, while also adhering to international standards such as UCP 600. It typically includes detailed specifications about the transaction, required documentation, payment terms, and conditions for payment release. This instrument is especially valuable in Qatar's market where there's a high volume of international trade and a need for secure, Sharia-compliant financial instruments.
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1. Issuing Bank Details: Complete name, address, and SWIFT code of the bank issuing the LC
2. LC Number and Date: Unique reference number and date of issuance
3. LC Type and Rules: Specification that this is a 30-day LC and reference to applicable rules (typically UCP 600)
4. Applicant Details: Full name, address, and contact information of the party requesting the LC (buyer)
5. Beneficiary Details: Full name, address, and contact information of the party receiving the LC (seller)
6. Currency and Amount: Specified currency and amount of the LC in both figures and words
7. Expiry Date: Clear statement of expiry date and place
8. Payment Terms: Specification of 30-day payment terms and conditions for payment
9. Documents Required: Detailed list of required documents for LC settlement
10. Goods Description: Precise description of goods/services covered by the LC
11. Shipment Terms: Shipping details including latest shipment date and delivery terms
1. Partial Shipments: Include when specifying whether partial shipments are allowed or prohibited
2. Transhipment: Include when specifying whether transhipment is allowed or prohibited
3. Insurance Coverage: Include when specific insurance requirements need to be detailed
4. Special Conditions: Include when there are additional terms or conditions specific to the transaction
5. Transfer Provisions: Include when the LC needs to be transferable
6. Back-to-Back Provisions: Include when back-to-back LC arrangements are permitted
7. Red Clause Provisions: Include when advance payment provisions are required
1. Schedule A - Document Requirements: Detailed checklist of required documents and their specifications
2. Schedule B - Goods Specifications: Detailed technical specifications of goods/services covered by the LC
3. Schedule C - Payment Schedule: Detailed breakdown of payment terms and timeline
4. Appendix 1 - Bank Forms: Standard forms required by the issuing bank
5. Appendix 2 - Shipping Documents Format: Templates or formats for required shipping documents
6. Appendix 3 - Amendment Procedures: Procedures for requesting and processing LC amendments
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