Standby Letter Of Credit Agreement Template for Saudi Arabia

1. Security Arrangements: Details of any collateral or security provided, used when additional security is required

2. Counter-Indemnity: Additional indemnification provisions, used in complex transactions with multiple parties

3. Transfer and Assignment: Rules for transferring rights under the credit, included when transferability is permitted

4. Electronic Banking Provisions: Terms for electronic communications and SWIFT messaging, used when electronic systems are primary means of communication

5. Multiple Drawing Provisions: Specific terms for multiple drawings under the credit, used when multiple drawings are permitted

6. Force Majeure: Provisions for unforeseen circumstances, included when specifically requested

7. Correspondent Bank Arrangements: Terms relating to correspondent banks, used when involving international transactions

1. Form of Standby Letter of Credit: Template of the actual standby letter of credit to be issued

2. Fee Schedule: Detailed breakdown of all applicable fees and charges

3. Drawing Requirements: Specific documents and procedures required for drawing under the credit

4. Form of Drawing Request: Template for beneficiary's drawing request

5. Specimen Signatures: Authorized signatures for relevant parties

6. Shariah Compliance Certificate: Certification of compliance with Islamic finance principles

7. Know Your Customer Requirements: List of required documentation for regulatory compliance