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1. Issuing Bank Details: Complete details of the issuing bank including name, branch, and contact information
2. Beneficiary Information: Full details of the contractor/beneficiary including registration and license numbers
3. Applicant Information: Complete details of the project owner/developer requesting the L/C
4. Credit Amount and Currency: Specification of the total L/C amount and currency of payment
5. Project Identification: Details of the construction project including location and scope
6. Validity Period: Expiry date and last date for presentation of documents
7. Drawing Terms: Conditions and documentation required for drawing under the L/C
8. Payment Schedule: Timeline and milestones for progressive payments under the L/C
9. Required Documents: List of all documents required for each drawing, including certificates and approvals
10. Governing Law Statement: Clear statement of Philippine law governance and applicable regulations
1. Transferability Clause: Include when the L/C needs to be transferable to other contractors or suppliers
2. Red Clause Provisions: Include when advance payments are required before construction commencement
3. Back-to-Back L/C Terms: Include when there are multiple contractors or international procurement requirements
4. Force Majeure Provisions: Include specific provisions for natural disasters or other unforeseeable circumstances
5. Green Clause Provisions: Include when warehouse or storage facilities are required during construction
6. Retention Money Provisions: Include when part of the payment needs to be held as retention money
1. Schedule A - Payment Milestone Chart: Detailed breakdown of construction phases and corresponding payment percentages
2. Schedule B - Document Submission Forms: Standard forms for progress certificates, completion certificates, and other required documentation
3. Schedule C - Technical Specifications: Detailed technical requirements and standards for the construction project
4. Schedule D - Drawing Request Form: Standard format for requesting drawings under the L/C
5. Appendix 1 - Construction Timeline: Detailed project timeline with key milestones and completion dates
6. Appendix 2 - Quality Certification Requirements: List of required quality certifications and inspection requirements
7. Appendix 3 - Bank Authorization Forms: Standard forms for bank processing and authorization
8. Appendix 4 - Document Checklist: Comprehensive checklist of all required documents for each drawing phase
Applicant
Advising Bank
Beneficiary
Bill of Exchange
Certificate of Completion
Construction Contract
Construction Period
Contract Price
Completion Date
Drawing
Drawing Certificate
Expiry Date
Force Majeure Event
Governing Law
Issuing Bank
Letter of Credit
Milestone Certificate
Notice of Drawing
Payment Schedule
Performance Certificate
Project
Project Site
Progress Report
Quantity Surveyor
Retention Money
Site Inspector
Specifications
Stage Payment
Technical Documents
UCP 600
Work Schedule
Substantial Completion
Progress Payment
Documentary Requirements
Bank Guarantee
Construction Drawings
Project Engineer
Quality Certificate
Warranty Period
Availability and Expiry
Drawing Conditions
Required Documentation
Payment Terms
Bank Obligations
Force Majeure
Governing Law and Jurisdiction
Construction Milestones
Technical Compliance
Document Presentation
Amendment Procedures
Assignment and Transfer
Notices
Default Events
Dispute Resolution
Bank Charges
Document Examination
Progress Certification
Quality Standards
Warranties and Representations
Insurance Requirements
Retention Provisions
Advance Payment
Compliance with Regulations
Termination
Communications
Stamp Duty and Taxes
Severability
Entire Agreement
Construction
Banking and Finance
Real Estate Development
Infrastructure
Commercial Property
Industrial Development
Public Works
Energy and Utilities
Transportation
Healthcare Facilities
Legal
Finance
Construction Management
Project Management
Risk Management
Treasury
Trade Finance
Procurement
Commercial Banking
Corporate Banking
Technical Services
Compliance
Credit Administration
Document Control
Operations
Project Finance Manager
Construction Project Manager
Bank Credit Officer
Legal Counsel
Chief Financial Officer
Construction Contract Administrator
Project Director
Risk Management Officer
Treasury Manager
Documentary Credits Specialist
Construction Site Manager
Procurement Manager
Corporate Banking Manager
Development Director
Commercial Banking Officer
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