The Irrevocable Standby Letter of Credit is a crucial financial instrument used when parties seek independent payment security for commercial transactions. It represents an irrevocable commitment by a bank to pay upon compliant presentation of documents, typically serving as a 'standby' facility that is drawn only if the underlying obligation is not fulfilled. Under English and Welsh law, these instruments are particularly valued for their independence from the underlying transaction and the strict compliance doctrine that governs their operation. They are commonly used in international trade, construction projects, and financial transactions where parties seek reliable payment security.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership of your docs
1. Issuing Bank Details: Full legal name, address, registration details and reference numbers of the issuing bank
2. Beneficiary Information: Complete identification details of the beneficiary including full legal name, address and registration details
3. Credit Amount and Currency: Precise statement of the amount and currency of the standby letter of credit, including any provisions for variation
4. Drawing Terms and Conditions: Detailed conditions and requirements that must be met for the credit to be drawn upon
5. Expiry Terms: Clear statement of expiry date, time and conditions, including the place where documents must be presented
1. Transfer Provisions: Terms and conditions for transfer of the credit to another beneficiary, if transferability is permitted
2. Partial Drawing Clause: Provisions allowing or prohibiting partial drawings under the credit
3. Automatic Extension Clause: Terms for automatic extension of the credit if certain conditions are met
4. Force Majeure Provisions: Specific provisions dealing with force majeure events affecting the credit
1. Form of Demand: Standard template for making a compliant demand under the letter of credit
2. Required Documents Schedule: Comprehensive list of documents required to be presented with any demand
3. Authentication Details: SWIFT or other authentication procedures and requirements
4. Specimen Signatures: Authorized signatures for the issuing bank and/or confirmation bank if applicable
Find the exact document you need
Unsecured Letter Of Credit
An England & Wales financial document ensuring payment assurance without collateral in international and domestic trade.
Download
Unrestricted Letter Of Credit
An England & Wales legal document ensuring secure international trade payments and compliance with UCP 600 rules.
Download
Trade Finance Letter Of Credit
An England & Wales legal document ensuring secure payment for international trade under UCP 600 rules.
Download
Unconditional Letter Of Credit
An England & Wales legal document ensuring payment security in international trade, independent of commercial contracts.
Download
Transit Letter Of Credit
An England & Wales legal document securing payment for goods in transit under UCP 600 rules.
Download
Synthetic Letter Of Credit
An England & Wales legal instrument offering flexible credit protection for international trade with reduced documentation.
Download
Syndicated Letter Of Credit
An England & Wales legal document outlining multi-bank participation in large-scale international trade transactions.
Download
Surety Backed Letter Of Credit
An England & Wales legal document ensuring enhanced payment security in high-value international trade transactions.
Download
Structured Letter Of Credit
An England & Wales legal document ensuring secure payment and structuring in complex international trade transactions.
Download
Restricted Letter Of Credit
An England & Wales financial document ensuring secure, non-transferable payment for international trade transactions.
Download
Revolving Letter Of Credit
An England & Wales legal document facilitating renewable trade credit for repeated transactions under UCP 600 compliance.
Download
Reverse Letter Of Credit
An England & Wales legal document securing beneficiary bank interests in international trade via reversed credit terms.
Download
Sblc Purchase Agreement
An England & Wales agreement for transferring Standby Letters of Credit in international trade transactions.
Download
Sblc Lease Agreement
An England & Wales legal document outlining terms for leasing a Standby Letter of Credit in international trade.
Download
Provisional Credit Reversal Letter
An England & Wales document notifying account holders of provisional credit withdrawal after dispute resolution.
Download
Outstanding Letter Of Credit
An England & Wales document confirming the status and terms of an existing Letter of Credit under UCP 600.
Download
Operative Letter Of Credit
An England & Wales legal document ensuring secure payment in international trade through stipulated documentary conditions.
Download
Non Recourse Sblc
An England & Wales legal document limiting liability in project finance through non-recourse SBLC provisions.
Download
Non Negotiable Letter Of Credit
An England & Wales legal document ensuring secure payment in international trade, restricting credit transferability.
Download
Negotiable Letter Of Credit
An England & Wales legal document ensuring secure international trade transactions through strict compliance and independent operation.
Download
Letter Of Credit Verbiage
An England & Wales legal document securing international trade payments through bank-backed guarantees under UCP 600.
Download
Letter Of Credit Negotiable Instrument
An England & Wales legal document securing cross-border trade payments with negotiable transfer rights.
Download
Letter Of Credit Loc
An England & Wales legal document ensuring secure payment in international trade through bank commitment.
Download
Letter Of Credit Facility
An England & Wales legal agreement establishing a credit line for issuing letters of credit in international trade.
Download
Letter Of Credit Discrepancy Acceptance
An England & Wales legal document waiving discrepancies in a Letter of Credit to facilitate international trade payment.
Download
Letter Of Credit Balance Sheet
An England & Wales document detailing financial impacts of letters of credit for regulatory compliance and risk management.
Download
Letter Of Credit Amendment
An England & Wales legal document modifying terms of an existing Letter of Credit with all parties' agreement.
Download
Lease Letter Of Credit
An England & Wales legal document securing landlord interests in commercial leases through a tenant-backed credit instrument.
Download
Issuing Bank Letter Of Credit
An England & Wales legal document ensuring secure payment in international trade through bank commitment.
Download
Irrevocable Revolving Letter Of Credit
An England & Wales legal document ensuring secure, recurring international trade payments with automatic reinstatement features.
Download
International Letter Of Credit
An England & Wales legal document ensuring payment security in international trade through specified compliance procedures.
Download
Interest On Letter Of Credit
An England & Wales legal document detailing interest terms for Letter of Credit transactions in international trade finance.
Download
Fronting Letter Of Credit
An England & Wales legal document formally terminating a business contract per the agreement's terms and legal requirements.
Download
Fronting Fee Letter Of Credit
An England & Wales legal document for tenants to formally terminate their residential tenancy agreement.
Download
Fixed Letter Of Credit
An England & Wales legal notice terminating a residential tenancy with a 30-day notice period.
Download
Electronic Letter Of Credit
An England & Wales legal notice terminating a service contract with 30 days' notice, detailing obligations and transition.
Download
Divisible Letter Of Credit
An England & Wales legal document notifying landlords of a tenant's intention to vacate a rental property.
Download
Direct Letter Of Credit
A formal notice in England & Wales to terminate a residential lease agreement under the Housing Act 1988.
Download
Credit Reference Letter From Utility Company
A legal document in England & Wales requiring tenants to vacate a property within 60 days.
Download
Credit Reference Letter From Supplier
A formal notice in England & Wales ending an Assured Shorthold Tenancy agreement.
Download
Genie’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; Genie’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)
.png)