Performance Standby Letter Of Credit Template for Philippines

1. Letter Reference and Date: Unique reference number and date of issuance of the SBLC

2. Beneficiary Details: Full name and address of the party in whose favor the SBLC is issued

3. Applicant Details: Full name and address of the party requesting the SBLC

4. Issuing Bank Details: Name, address, and SWIFT code of the issuing bank

5. Credit Amount: The maximum drawable amount and currency of the SBLC

6. Underlying Transaction: Reference to the underlying contract or obligation being guaranteed

7. Performance Obligations: Specific description of the performance obligations being guaranteed

8. Drawing Terms: Conditions and requirements for making a claim under the SBLC

9. Required Documents: List of documents required to be presented with any drawing request

10. Expiry Details: Expiry date and place of the SBLC

11. Governing Law: Statement that Philippine law governs the SBLC

12. Applicable Rules: Reference to ISP98 or UCP 600 as applicable rules

1. Schedule A - Drawing Certificate Format: Template of the beneficiary's demand/drawing certificate

2. Schedule B - Performance Metrics: Detailed description of performance standards and measurement criteria

3. Schedule C - Required Documents: Detailed list and format of all required supporting documents

4. Appendix 1 - Reduction Schedule: If applicable, detailed schedule of amount reductions over time

5. Appendix 2 - Authorized Signatories: List of authorized signatories and specimen signatures