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The Transferable LC at Sight is a vital trade finance instrument used in Pakistan's international trade landscape, particularly when intermediaries are involved in the supply chain. This document type is specifically designed for transactions where the first beneficiary acts as a middleman and needs to transfer the credit to an actual supplier (second beneficiary). It's governed by Pakistani banking laws, State Bank of Pakistan regulations, and international banking practices (UCP 600). The document includes detailed specifications for the transfer mechanism, document requirements, and payment terms, with payment being made immediately upon presentation of compliant documents. This type of LC is especially useful in trading operations where the original beneficiary may not be the actual manufacturer or supplier of the goods but acts as an intermediary in the transaction.

1. LC Number and Date: Unique identification number of the LC and date of issuance

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

3. Applicant Details: Full name, address, and contact information of the party requesting the LC

4. First Beneficiary Details: Complete name, address, and banking details of the original beneficiary

5. Currency and Amount: Specification of the currency and the exact amount of the LC, both in figures and words

6. Transfer Terms: Explicit statement that this is a transferable credit and conditions for transfer

7. Expiry Date and Place: Clear specification of when and where the LC expires

8. Payment Terms: Specification that payment is at sight upon presentation of compliant documents

9. Required Documents: Detailed list of all required documents for presentation

10. Shipment Terms: Details of shipment including latest shipment date and partial shipments status

11. Document Presentation Period: Timeframe within which documents must be presented after shipment

12. Governing Law and UCP Reference: Reference to governing law (Pakistan) and UCP 600 applicability