Draft Letter of Credit Review Checklist
A checklist for reviewing a draft Letter of Credit against the sales contract before the bank issues it.
Reviewed by LCCheck team (owner-approved) · 2026-10-12
Short answer
Run this checklist on a draft Letter of Credit before issuance. Each line compares a credit term with the sales contract and asks whether it can realistically be met. Fixing a draft costs nothing; amending an issued credit takes time and agreement from all parties.
| Use | Before issuance |
|---|---|
| Compare with | Sales contract or proforma invoice |
| Outcome | List of changes to request in one go |
Parties and amount
- Beneficiary name and address exact.
- Amount, currency and tolerance match the contract.
Dates and place
- Latest shipment achievable.
- Presentation period long enough.
- Expiry place and available-with bank acceptable.
Goods and shipment
- 45A description matches the contract.
- Ports, partial shipment and transhipment terms workable.
- Incoterm matches the contract.
Documents and conditions
- Every 46A document obtainable in time.
- No document needs the buyer's signature.
- Every 47A condition clear and within your control.
Sources
- ICC — UCP 600 (Uniform Customs and Practice for Documentary Credits)
- ICC Academy — avoiding Letter of Credit discrepancies
General guidance, not legal advice. Your bank examines documents independently.
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