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Standby Letter Of Credit
"Need a Standby Letter of Credit to secure a construction project in Singapore for SGD 5 million, with quarterly renewal options until March 2025, and including provisions for partial drawings."
1. Issuing Bank Details: Full legal name, address, and reference numbers of the issuing bank
2. Beneficiary Details: Complete identification of the party in whose favor the SBLC is issued
3. Amount and Currency: Specific amount and currency of the SBLC
4. Expiry Date: Clear statement of when the SBLC expires
5. Drawing Conditions: Specific conditions under which the SBLC can be drawn
6. Governing Law and Jurisdiction: Specification of Singapore law as governing law and jurisdiction for disputes
1. Transferability Clause: Optional clause specifying whether and how the SBLC can be transferred to another beneficiary
2. Partial Drawings: Optional clause allowing for multiple partial drawings under the SBLC
3. Auto-renewal Clause: Optional clause specifying terms for automatic renewal of the SBLC
4. Assignment Provisions: Optional clause detailing whether proceeds can be assigned to third parties
1. Form of Demand: Standard template for making a compliant demand under the SBLC
2. Required Supporting Documents: Comprehensive list of documents required to be presented with any demand
3. Fee Schedule: Detailed breakdown of all applicable banking charges and fees
4. Communication Methods: Approved methods and formats for communications relating to the SBLC
Authors
Applicant
Banking Day
Beneficiary
Business Day
Complying Presentation
Demand
Drawing
Effective Date
Event of Default
Expiry Date
Form of Demand
Governing Law
ISP98
Issuing Bank
Letter of Credit Amount
Maximum Credit Amount
Nominated Bank
Obligations
Presentation
Presenting Bank
Required Documents
Singapore Dollars
Specified Currency
Supporting Documents
UCP 600
Underlying Transaction
Amount and Currency
Availability
Expiry
Drawing Conditions
Presentation Requirements
Payment Terms
Documentary Requirements
Bank Obligations
Transfer Rights
Assignment
Amendment Provisions
Force Majeure
Governing Law
Jurisdiction
Notices
Banking Charges
Default Events
Automatic Extension
Cancellation Terms
Partial Drawings
Multiple Drawings
Document Examination
Disclaimers
UCP/ISP Incorporation
Anti-Money Laundering Compliance
Sanctions Compliance
Electronic Presentation
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