Stand-By Letter Of Credit Dept printable pdf download

ATTN: STAND-BY LETTER OF CREDIT DEPT

STAND-BY LETTER OF CREDIT

OUR REF NO.:

ISSUING DATE:

TO: SHANGHAI PUDONG DEVELOPMENT BANK，ZHANGZHOU BRANCH

SWIFT: SPDBCNSH430

AT THE REQUEST OF ______________________________ (HEREUNDER REFERRED TO AS “THE

APPLICANT”) WHICH HAS ITS REGISTERED ADDRESS AT

_________________________________,CHINA, WE,______________________________ BANK, WITH OUR

OFFICE AT _____________________, SWIFTCODE:____________, HEREBY ISSUE (DATE OF ISSUING:

__________) THIS IRREVOCABLE STAND-BY LETTER OF CREDIT NO. (____________) IN FAVOUR OF

FOR THE ACCOUNT OF _______________________________________. AS BENEFICIARY (HEREUNDER

REFERRED TO AS “THE BENEFICIARY”) NOT EXCEEDING THE MAXIMUM AMOUNT OF U.S.$

20,000,000.00 (SAY U.S DOLLARS 20 MILLIONS ONLY) INCLUDING PRINCIPAL, ACCRUED INTEREST,

PENALTY INTEREST, FEES, EXPENSES AND BANKING CHARGES (HEREUNDER COLLECTIVELY

REFERRED TO AS “THE GUARANTEED SUM”), WHICH ARE DUE AND PAYABLE TO YOU BY

_______________________________________ (COMPANY REGISTRATION NO._______) (HEREUNDER

REFERRED TO AS “THE BORROWER”) UNDER THE__________________ (REFERENCE NO._________)

ENTERED INTO BY AND BETWEEN YOU AND THE BORROWER DATED ________ FOR GRANTING OF

A LOAN FACILITY FOR A SUM OF U.S.$20MILLONS (HEREUNDER REFERRED TO AS “THE LOAN

FACILITY”).

THIS STAND-BY LETTER OF CREDIT IS AVAILABLE WITH US AGAINST YOUR DEMAND BY

AUTHENTICATED SWIFT TO US AT OUR COUNTER ON OR BEFORE THE EXPIRY DATE (AS DEFINED

BELOW), STATING THAT THE BORROWER HAS FAILED TO FULFILL ITS PAYMENT OR REPAYMENT

OBLIGATIONS UNDER THE LOAN FACILITY AND THE AMOUNT DRAWN BY YOU REPRESENTS THE

UNPAID BALANCE OF THE GURANTEED SUM DUE TO YOU BY THE BORROWER.

UPON OUR RECEIPT OF YOUR DEMAND IN COMPLIANCE WITH TERMS AND CONDITIONS OF THIS

STAND-BY LETTER OF CREDIT, WE SHALL, WITHIN TEN (10) BANKING DAYS PAY YOU THE

AMOUNT SPECIFIED IN EACH OF YOUR DEMANDS PROVIDED THAT THE AGGREGATE AMOUNT

DRAWN UNDER THIS STAND-BY LETTER OF CREDIT SHALL NOT EXCEED THE GURANTEED SUM

AFORESAID.

PARTIAL DRAWINGS AND MULTIPLE PRESENTATIONS ARE ACCEPTABLE. ANY PARTIAL

PAYMENT MADE UNDER THIS STAND-BY LETTER OF CREDIT SHALL ACCORDINGLY REDUCE THE

GURANTEED SUM.

ALL BANKING CHARGES AND FEES UNDER THIS STAND-BY LETTER OF CREDIT ARE FOR ACCOUNT

OF THE APPLICANT.

ALL NOTICES AND COMMUNICATIONS TO US SHALL BE SENT TO _________ (SWIFT CODE) BY

AUTHENTICATED SWIFT.

ALL DEMANDS HEREUNDER MUST BE MARKED “DRAWN UNDER __________________________

BANK, STAND-BY LETTER OF CREDIT NO. (____) DATED ____”.

THIS STAND-BY LETTER OF CREDIT WILL BE EFFECTIVE FROM THE ISSUING DATE AND EXPIRE

ON ________ (HEREUNDER REFERRED TO AS “THE EXPIRY DATE”) AT THE COUNTER OF

____________________________ BANK. AFTER THE EXPIRY DATE OF THIS STAND-BY LETTER OF

CREDIT, OUR OBLIGATION UNDER THIS STAND-BY LETTER OF CREDIT WILL BE DISCHARGED

AND RELEASED AUTOMATICALLY AND THIS STAND-BY LETTER OF CREDIT WILL BECOME NULL

AND VOID AUTOMATICALLY.

Stand-By Letter Of Credit Dept

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