Document background
The Restricted Letter of Credit serves as a crucial trade finance instrument in international commerce, particularly within Singapore's robust financial framework. This document is specifically utilized when parties require enhanced control over the payment process and additional security measures beyond standard letters of credit. It includes detailed specifications of required documents, payment terms, and specific restrictions on negotiation or transfer. The document is structured to comply with both Singapore banking regulations and international UCP 600 rules, making it particularly suitable for complex international trade transactions where strict control over credit utilization is required.
