14 Sblc Format_uns

STANDBY LETTER OF CREDIT(SBLC) FORMAT FROM : TO : ( _______________ _______________ NAME AND ADDRESS ADDRESS ) SBLC NO.

:

CURRENCY

:

DATE OF ISSUE

:

DATE/PLACE OF EXPIRY

:

APPLICANT

:

BENEFICIARY

: (NAME & ADDRESS)

AMOUNT

: $/€____________ (USD/EURO ______ M/BILLION ONLY)

WE, (BANK NAME, ADDRESS), HEREBY ISSUE ISSUE OUR IRREVO IRREVOCABL CABLE E NO........ NO........ IN YOUR  YOUR  FAVOUR AND FOR THE ACCOUNT OF ( BENEFICIARY NAME & ADDRESS ) FOR THE AGGREGATE AMOUNT OF (USD/EURO _,000,000.00. ONLY ). ). THIS PAYMENT OBLIGATION IN YOUR FAVOUR AS STATED ABOVE IS AVAILABLE WITHIN THE VALIDITY OF THE STANDBY LETTER OF CREDIT UPON RECEIPT OF YOUR WRITTEN DEMAND FOR PAYMENT OR YOUR TESTED TELEX/ SWIFT ADVICE. ON PRESENTATION OF CONFIRMING DOCUMENTS, WE WILL REMIT FUNDS AT SIGHT AS PER YOUR INSTRUCTIONS. WE PROMISE THAT UPON RECEIPT OF YOUR WRITTEN REQUEST, BY DULY SIGNED LETT LETTER ER OR AUTH AUTHEN ENTI TIC CATED ATED SWIF SWIFT T OR DU DULY LY TEST TESTED ED TELE TELEX, X, CONT CONTAI AINI NING NG YOUR  YOUR  DECL DECLAR ARAT ATIO ION. N. THAT THAT THE THE AMOU AMOUNT NT YOU YOU ARE ARE CLAI CLAIMI MING NG FROM FROM US HERE HEREUN UNDE DER R IS THE THE OUTSTANDING AMOUNT TO BE PAID BY APPLICANT, DUE AND PAYABLE ON DEMAND AT SIGHT. THE AMOUNT OF THIS PAYMENT OBLIGATION WILL BE REDUCED BY ANY PAYMENT EFFECTED BY US HEREUNDER. HEREUNDER. OUR PAYMENT OBLIGATION OBLIGATION IS VALID UNTIL ( DD, MM,2013) AND EXPIRES AUTOMATICALLY AND IN FULL ON SAID DATE WHETHER IT IS A BANK WORKING DAY OR NOT. THE CLAIM WILL BE CONSIDERED AS HAVING BEEN MADE ONCE WE ARE IN POSSESSION OF YOUR REQUEST FOR PAYMENT. THE AMOUNT WHICH MAY BE DRAWN BY YOU UNDER THIS PAYMENT OBLIGATION SHALL SHA LL BE AUTOMA AUTOMATI TICAL CALLY LY REDUC REDUCED ED BY THE AMOUNT AMOUNT OF ANY ANY DRAWIN DRAWING G HEREUN HEREUNDER DER.. PARTIAL DRAWINGS ARE PERMITTED.

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WE HEREBY ENGAGE WITH YOU THAT ALL DRAFTS DRAWN AND PRESENTED UNDER  AND IN ACCORDANCE WITH THE TERMS OF THIS TRANSFERABLE OBLIGATION, WILL BE DULY HONOURED BY US. EXCEPT SO FAR AS OTHERWISE EXPRESSLY STATED, THIS STANDBY LETTER OF CREDIT IS SUBJECT TO SWISS LAW. HOWEVER, IN THE EVENT OF ANY DISPUTE ARISING, THIS STANDBY LETTER OF CREDIT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH SUBSTANTIVE SWISS LAW (I.E. EXCLUDING CONFLICT OF LAWS, RULES AND REGULATIONS). ANY CONFLICT ARISING OUT OF OR IN CONNECTION THIS PAYMENT OBLIGATION SHALL BE SUBJECT TO THE EXCLUSIVE JURISDICTION OF THE COMMERCIAL COURT OF THE CANTON OF ZURICH, WITH RESERVE OF APPEAL TO THE SWISS FEDERAL COURT.

FOR AND ON BEHALF OF( BANK NAME, ADDRESS)  _____________________ Authorized Signatory

_______________________ Authorized Signatory

BANK OFFICER [1]

BANK OFFICER [2]





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