Standby Letter Of Credit Agreement Template for Philippines

1. Security Arrangements: Required when specific collateral or security is provided for the letter of credit

2. Counter-Indemnity: Used when there is a separate counter-indemnity arrangement from the applicant

3. Currency Provisions: Required for multi-currency letters of credit or when currency conversion is involved

4. Tax Provisions: Detailed tax provisions when cross-border elements exist or specific tax implications need addressing

5. Anti-Money Laundering Compliance: Detailed AML provisions when required by the nature of the transaction or parties

6. Force Majeure: Specific force majeure provisions beyond standard clauses when required by the transaction nature

7. Correspondent Bank Arrangements: Required when involving correspondent banks in other jurisdictions

8. Electronic Banking Provisions: When electronic platforms or systems are used for drawings or communications

1. Form of Letter of Credit: The actual form/template of the standby letter of credit to be issued

2. Fee Schedule: Detailed breakdown of all fees, charges, and commission rates

3. Drawing Requirements: Specific requirements and format for drawing documents

4. Authorized Signatories: List of authorized signatories and specimen signatures

5. Security Details: Details of any collateral or security arrangements

6. Form of Drawing Certificate: Template for the beneficiary's drawing certificate

7. Contact Details: Complete contact information for all parties and their representatives

8. Compliance Documents: Required regulatory and compliance documentation