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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
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