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Approved Verbiage For The BG-SBLC

The document outlines the approved verbiage for issuing a standby letter of credit (SBLC) via SWIFT MT760, detailing the terms of payment, conditions for demand, and transferability. It specifies that payment will be made in USD upon presentation of the SBLC and is free from deductions or charges. The SBLC is governed by the Uniform Customs and Practice for Documentary Credit and does not require confirmation by mail or phone.

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ndyanaboallan
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9 views1 page

Approved Verbiage For The BG-SBLC

The document outlines the approved verbiage for issuing a standby letter of credit (SBLC) via SWIFT MT760, detailing the terms of payment, conditions for demand, and transferability. It specifies that payment will be made in USD upon presentation of the SBLC and is free from deductions or charges. The SBLC is governed by the Uniform Customs and Practice for Documentary Credit and does not require confirmation by mail or phone.

Uploaded by

ndyanaboallan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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APPROVED VERBIAGE FOR THE BG/SBLC VIA SWIFT MT760

FOR THE VALUE RECEIVED BY US, WE THE UNDERSIGNED, HEREBY ISSUE OUR
IRREVOCABLE, UNCONDITIONAL, CASH BACKED, TRANSFERABLE, DIVISIBLE,
ASSIGNABLE AND CONFIRMABLE STANDBY LETTER OF CREDIT AND UNDERTAKE TO PAY
AGAINST THIS STANDBY LETTER OF CREDIT NUMBER ______________ TO THE ORDER OF
_____________ ACCOUNT NUMBER _______________ THE BEARER OR HOLDER THEREOF
THE AMOUNT XXX MILLION IN LAWFUL CURRENCY OF UNITED STATES DOLLARS (USD
XXX,000,000.00) UPON PRESENTATION AND SURRENDER OF THIS STANDBY LETTER OF
CREDIT AT ANY OF OUR COUNTERS WORLDWIDE NOT LATER THAN FIFTEEN DAYS AFTER
MATURITY.

PAYMENT IS AVAILABLE UPON THE BENEFICIARY'S FIRST WRITTEN DEMAND IN THE


FORM OF PRESENTATION INDICATED ABOVE ONLY TO BE SENT TO US NOT EARLIER THAN
15 (FIFTEEN) DAYS BEFORE EXPIRY DATE AND THE DEMAND HEREUNDER MUST BE
MARKED, DRAWN UNDER THE STANDBY LETTER OF CREDIT NUMBER: ________________

SUCH PAYMENT SHALL BE MADE WITHOUT SET OFF AND CLEAR OF ANY DEDUCTIONS, OR
CHARGES, FEES, OR WITHHOLDING OF ANY NATURE, NOW OR HEREINAFTER IMPOSED,
LEVIED, COLLECTED, WITHHELD OR ASSESSED BY THE GOVERNMENT OF ___________ OR
ANY POLITICAL SUBDIVISION OR AUTHORITY THEREOF OR THEREIN.

THIS STANDBY LETTER OF CREDIT IS TRANSFERABLE AND ASSIGNABLE WITHOUT


PRESENTATION TO US. THIS STANDBY LETTER OF CREDIT IS SUBJECT TO UNIFORM
CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDIT UNDER INTERNATIONAL CHAMBER OF
COMMERCE, PARIS FRANCE, PUBLICATION NO. 758.

THIS IS AN OPERATIVE INSTRUMENT AND NO MAIL OR PHONE CONFIRMATION SHALL


FOLLOW. ALL CHARGES ARE FOR THE APPLICANT.

FOR AND ON BEHALF OF:

_________________ _________________
BANK OFFICER NAME BANK OFFICER NAME
TITLE (PIN) TITLE (PIN)
DESIGNATION: XXXX DESIGNATION: XXXX
ISSUER BANK: XXXX ISSUER BANK: XXXX

_ _ _ _ _End of Message _ _ _ _ _

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