MT 760 - SBLC

Standard Format

 

 

20            TRN

21            RELATRD TRN

 

79            NARRATIVE

 

ATTENTION : ………………………

 

OUR STANDBY LETTER OF CREDIT NO.  ………………………….

AMOUNT – USD ……… (UNITED STATE DOLLARS ……….. ONLY)

EFFECTIVE DATE - ………………………………..

EXPIRY DATE - ………………………………

 

 

IN CONSIDERATION OF YOU GRANTING CERTAIN CREDIT FACILITY TO

  .………………………, “THE ACCOUNT PARTY” , WE HEREBY ISSUE TODAY OUR CONFIRM,IRREVOCABLE CLEAN UNCONDITIONAL STANDBY LETTER OF CREDIT NO. ………….. IN YOUR FAVOUR FOR AMOUNT NOT TO EXCEED UNITED STATE DOLLARS …..…………

(USD ……………) VALID FROM ……………… TO ……………. AND PAYABLE AT OUR COUNTER AGAINST YOUR AUTHENTICATED SWIFT CERTIFYING THAT THE ACCOUNT PARTY HAS FAILED TO REIMBURSE YOU IN DUE COURSE WHETHER FOR PRINCIPAL, INTEREST, OR OTHERWISE WITH RESPECT TO THE SAID CREDIT FACILITIES.

 

ALL PAYMENTS UNDER THIS STANDBY LETTER OF CREDIT SHALL BE MADE FREE AND CLEAR OF ANY DEDUCTION OR WITHOLDING WHATSOEVER, AND SHALL BE PAID IN THE CURRENCY AS SPECIFIED ABOVE.

 

PARTIAL DRAWINGS ARE PERMITTED.

 

ALL BANKING CHARGES AND COMMISSIONS EXCEPT ISSUING BANK’S CHARGES ARE FOR ACCOUNT OF BENEFICIARY.

 

AMOUNT PAYABLE TO YOU UNDER THIS STANDBY LETTER OF CREDIT SHALL BE PAYABLE ON FIRST DEMAND VIA AUTHENTICATED SWIFT DRAWING(S)

 

WE HEREBY UNDERTAKE TO HONOUR YOUR AUTHENTICATED SWIFT DRAWING(S) WITHIN THE PRESENT STANDBY LETTER OF CREDIT VALIDITY AND IN STRICT COMPLIANCE WITH THE ABOVE TERMS AND CONDITIONS.

 

THIS STANDBY LETTER OF CREDIT IS SUBJECT TO THE UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS (1993 REVISION), INTERNATIONAL CHAMBER OF COMMERCE  PUBLICATION NO. 500, EXCEPT ARTICLE 18 (c) .

 

FOR AND ON BEHALF OF

BANK ……..…………………

………………………………