The Divisible Letter of Credit is a crucial financial instrument in international trade transactions governed by Qatar law. It is particularly useful when dealing with large commercial transactions that require multiple shipments or staged deliveries. This document type provides flexibility by allowing the beneficiary to make multiple partial drawings, each supported by its own set of documents, while maintaining the security and certainty that letters of credit are known for. The document must comply with Qatar Central Bank regulations, potentially including Islamic banking principles, and typically incorporates UCP 600 guidelines. It is commonly used in scenarios where suppliers need to make multiple shipments over time or when buyers prefer to spread their payment obligations across multiple deliveries. The document includes comprehensive details about drawing rights, documentary requirements, and payment terms, making it essential for structured international trade finance.
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1. Letter Reference and Date: Unique reference number and issuance date of the Letter of Credit
2. Issuing Bank Details: Complete name, address, and SWIFT code of the issuing bank
3. Beneficiary Details: Full name and address of the beneficiary (seller/exporter)
4. Applicant Details: Full name and address of the applicant (buyer/importer)
5. Credit Amount and Currency: Total value of the Letter of Credit and currency specification
6. Divisibility Terms: Specific conditions and terms regarding how the credit can be divided, including minimum drawing amounts and maximum number of drawings
7. Availability and Expiry: Validity period of the LC and where it is available for negotiation
8. Shipment Terms: Latest shipment date and partial shipment/transhipment conditions
9. Required Documents: List of documents required for each drawing under the LC
10. Payment Terms: Conditions and timing of payment upon document presentation
1. Advising Bank Details: Details of the advising bank when LC is advised through a different bank
2. Confirmation Instructions: Used when confirmation is requested from another bank
3. Transferability Clause: Include when the LC needs to be transferable to other beneficiaries
4. Special Conditions: Any additional terms or conditions specific to the transaction
5. Islamic Banking Compliance: Required when the LC needs to comply with Shariah principles
6. Revolving Terms: Include when the LC has revolving characteristics in addition to divisibility
1. Schedule A - Goods Description: Detailed specification of goods, including quantity, unit price, and total value
2. Schedule B - Documentary Requirements: Detailed list of required documents and their specific requirements
3. Schedule C - Drawing Schedule: Planned schedule of drawings showing expected dates and amounts
4. Schedule D - Shipping Terms: Detailed shipping instructions and Incoterms
5. Appendix 1 - Standard Document Formats: Templates for required documents such as commercial invoices, certificates
6. Appendix 2 - Bank Forms: Standard forms required by the issuing bank for drawings
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