The Inland Letter of Credit serves as a crucial financial instrument in South African domestic trade, providing a secure payment mechanism between parties operating within the country. This document type is particularly relevant when businesses require a bank-guaranteed payment method for significant domestic transactions. The Inland Letter of Credit, governed by South African banking regulations and commercial law, includes essential elements such as credit amount, validity period, payment terms, and document requirements. It is commonly used in situations where sellers seek payment security and buyers need to demonstrate their creditworthiness through bank backing. The document provides a structured framework for domestic trade finance, ensuring that payment will be made upon presentation of compliant documents as specified in the letter of credit terms.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership of your docs
1. Letter Reference and Date: Unique reference number and date of issuance of the Letter of Credit
2. Issuing Bank Details: Complete details of the bank issuing the Letter of Credit
3. Applicant Details: Full name, registration number and address of the party requesting the Letter of Credit
4. Beneficiary Details: Full name, registration number and address of the party in whose favor the Letter of Credit is issued
5. Credit Amount: The maximum amount for which the Letter of Credit is issued, both in figures and words
6. Validity Period: The date of expiry and last date for presentation of documents
7. Payment Terms: Specifications of when and how payment will be made
8. Required Documents: List of documents that must be presented to trigger payment
9. Presentation Terms: Where and how documents should be presented
10. Governing Law Statement: Explicit statement that the LC is governed by South African law
1. Partial Shipments/Drawings: Include when multiple drawings or partial payments are permitted
2. Transfer Rights: Include when the LC needs to be transferable to another beneficiary
3. Confirmation Instructions: Include when confirmation from another bank is required
4. Special Conditions: Include when there are additional requirements or conditions specific to the transaction
5. Amendment Procedures: Include when specific amendment procedures need to be predetermined
6. Force Majeure Provisions: Include when specific force majeure terms need to be addressed
7. Anti-Money Laundering Declarations: Include when enhanced compliance requirements are needed
1. Schedule A - Document Requirements: Detailed list and specifications of all required documents
2. Schedule B - Payment Schedule: If applicable, detailed schedule of multiple drawings or payments
3. Schedule C - Goods Description: Detailed description of the goods or services covered by the LC
4. Appendix 1 - Standard Banking Forms: Standard forms required by the issuing bank
5. Appendix 2 - Specimen Signatures: Authorized signatures for all relevant parties
6. Appendix 3 - Compliance Certificates: Templates for any required compliance certificates
Find the exact document you need
Letter Of Credit Cost
A South African banking document detailing all costs, fees, and charges associated with issuing and maintaining a letter of credit, in compliance with local banking regulations and international standards.
Download
Standby Letter Of Credit Cost
A South African banking document detailing the complete fee structure and costs associated with issuing and maintaining a standby letter of credit, in accordance with local banking regulations.
Download
Letter Of Credit Project (Finance)
A South African law-governed Letter of Credit document structured for project finance transactions, combining payment security with project-specific requirements and milestones.
Download
At Sight Letter Of Credit
A South African-compliant Letter of Credit providing immediate payment upon presentation of compliant documents, governed by local banking regulations and UCP 600.
Download
Lc Sight And Usance
A South African law-governed Letter of Credit document combining sight and usance payment options for international trade transactions.
Download
Irrevocable Unconfirmed Letter Of Credit
An Irrevocable Unconfirmed Letter of Credit under South African law, providing a binding bank payment guarantee in international trade transactions.
Download
Loan Against Letter Of Credit
South African law-governed agreement for providing loan financing against a Letter of Credit, typically used in international trade transactions.
Download
Cash Credit Account Closure Letter
A formal South African banking document confirming the closure of a cash credit account, outlining closure terms and final settlement requirements under local banking regulations.
Download
Utility Letter Of Credit
A South African law-governed bank guarantee document ensuring payment security for utility services, issued by a bank in favor of a utility provider.
Download
Lc Agreement
A South African law-governed agreement establishing terms for a bank-issued Letter of Credit, facilitating secure international trade transactions.
Download
Standby Guarantee
A South African law-governed bank guarantee that provides payment security upon documented default of specified obligations.
Download
Irrevocable Letter Of Credit Cost
A South African law-governed banking instrument that provides guaranteed payment terms and associated costs for international trade transactions under an irrevocable letter of credit facility.
Download
Credit Facility Offer Letter
A South African law-compliant formal letter from a financial institution offering credit facilities to a borrower, detailing terms, conditions, and statutory requirements.
Download
Usance Lc Discounting
South African agreement for discounting Usance Letters of Credit, governing the early payment of LC proceeds at a discount under South African banking and trade finance regulations.
Download
Transferring Bank In Lc
A South African law-governed agreement for a bank acting as Transferring Bank in Letter of Credit transactions, detailing transfer terms and regulatory compliance requirements.
Download
Payment Against Lc
A South African law-governed agreement establishing payment terms and conditions through Letter of Credit in international trade transactions.
Download
Non Transferable Letter Of Credit
A South African-compliant banking instrument that provides an irrevocable payment guarantee from a bank to a beneficiary, featuring non-transferability provisions.
Download
Negotiation Bank In Lc
South African banking agreement governing LC document negotiation terms and conditions under local banking laws and international trade practices.
Download
Cumulative Revolving Letter Of Credit
A South African law-governed banking instrument establishing a renewable credit facility where unused amounts accumulate, typically used in international trade transactions.
Download
Transferable Lc At Sight
A South African law-governed transferable letter of credit that provides immediate payment upon document presentation, commonly used in international trade transactions.
Download
Small Business Letter Of Credit
A South African banking instrument providing payment security for small business transactions, governed by local banking laws and regulations.
Download
Secured Letter Of Credit
A South African law-governed banking instrument combining letter of credit features with security arrangements for enhanced protection in international trade transactions.
Download
Local Letter Of Credit
A South African banking instrument providing payment security for domestic trade transactions, governed by local banking laws and regulations.
Download
Loan Facility Letter
A South African banking document that outlines credit facility terms and conditions, serving as a formal offer of lending facilities in compliance with local banking regulations.
Download
Non Operative Letter Of Credit
A South African banking instrument providing payment security in international trade transactions, governed by local banking laws and UCP 600.
Download
Letter Of Credit 90 Days
A South African bank-issued payment guarantee instrument with 90-day terms, securing international trade transactions under local banking laws and UCP 600.
Download
Letter Of Credit 60 Days
A South African bank-issued financial instrument guaranteeing payment to a seller after 60 days, subject to document compliance and governed by South African law.
Download
Letter Of Credit 30 Days
A South African law-governed banking instrument guaranteeing payment within 30 days for international trade transactions, subject to document compliance.
Download
Irrevocable Confirmed Lc At Sight
A South African-governed irrevocable confirmed Letter of Credit providing immediate payment upon document presentation, subject to UCP 600 rules and local banking regulations.
Download
Inland Letter Of Credit
A South African banking instrument providing payment security in domestic trade transactions, governed by local banking and commercial law.
Download
Import Documentary Letter Of Credit
A bank-issued trade finance document governed by South African and international banking laws, guaranteeing payment to an exporter upon presentation of compliant import documents.
Download
Domestic Lc
A South African domestic Letter of Credit document that guarantees payment between local parties, governed by South African banking and commercial laws.
Download
Discrepancy Letter Of Credit
A formal South African banking document acknowledging Letter of Credit discrepancies and requesting payment processing despite identified issues.
Download
Digital Letter Of Credit
A South African law-governed digital payment guarantee instrument used in international trade, combining traditional letter of credit features with electronic transaction capabilities.
Download
Business Letter Of Credit
A bank-issued payment guarantee document under South African law that ensures secure payment in commercial transactions, subject to document compliance.
Download
Beneficiary In Letter Of Credit
A South African law-governed financial instrument issued by a bank guaranteeing payment to a seller (beneficiary) in international trade upon presentation of compliant documents.
Download
Bank Guarantee And Letter Of Credit
South African law-compliant template for Bank Guarantees and Letters of Credit, establishing terms and conditions for financial institutions providing banking guarantees and documentary credits.
Download
Unsecured Letter Of Credit
A South African law-governed banking instrument providing an unsecured payment guarantee from a bank to a beneficiary upon presentation of specified documents.
Download
Trade Finance Letter Of Credit
A bank-issued payment guarantee document governed by South African law and UCP 600, providing security in international trade transactions.
Download
Unconditional Letter Of Credit
A South African law-governed irrevocable bank undertaking to make payment against compliant documents, subject to UCP 600 and local banking regulations.
Download
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)