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Counter Standby Letter Of Credit
"I need a Counter Standby Letter of Credit for USD 5 million to support our bank's issuance of a primary SBLC for a construction project in Singapore, with the counter SBLC to be effective from March 1, 2025, including provisions for partial drawings and electronic presentation of documents."
1. Issuing Bank Details: Complete details of the bank issuing the Counter SBLC including name, address, SWIFT code, and reference numbers
2. Beneficiary Details: Full identification of the beneficiary bank (typically the issuer of the primary SBLC)
3. Applicant Details: Complete information about the party requesting the Counter SBLC
4. Reference to Primary SBLC: Details of the primary Standby Letter of Credit this Counter SBLC is supporting
5. Counter SBLC Amount and Currency: Specific amount and currency of the Counter SBLC, including any tolerance levels
6. Validity Period: Effective date and expiry date of the Counter SBLC
7. Drawing Terms and Conditions: Specific conditions under which the Counter SBLC can be drawn upon
8. Required Documents: List of documents required for any drawing under the Counter SBLC
9. Governing Law and Jurisdiction: Specification of Hong Kong law and jurisdiction
10. Applicable Rules: Reference to applicable rules (typically UCP 600 or ISP98)
1. Transfer Provisions: Include when the Counter SBLC needs to be transferable
2. Partial Drawings: Include when partial drawings are to be allowed
3. Language Preference: Include when the Counter SBLC needs to be issued in multiple languages
4. Special Instructions: Include when there are specific banking or processing instructions
5. Force Majeure Provisions: Include when specific force majeure conditions need to be addressed
6. Assignment Provisions: Include when rights under the Counter SBLC may need to be assigned
1. Schedule A - Form of Demand: Standard format for making a demand under the Counter SBLC
2. Schedule B - Form of Transfer Request: Standard format for requesting transfer of the Counter SBLC (if transferable)
3. Schedule C - Required Documents: Detailed list and format of all required supporting documents
4. Appendix 1 - Copy of Primary SBLC: Copy of the primary SBLC being counter-guaranteed
5. Appendix 2 - Fee Schedule: Schedule of all applicable fees and charges
6. Appendix 3 - Authentication Procedures: Detailed procedures for authenticating demands and communications
Authors
Banking & Financial Services
International Trade
Import/Export
Manufacturing
Construction
Energy
Infrastructure
Shipping & Logistics
Commodities Trading
Real Estate Development
Trade Finance
Banking Operations
Legal
Compliance
Risk Management
Treasury
International Banking
Documentary Credits
Financial Control
Corporate Banking
Trade Finance Manager
Banking Operations Director
Letter of Credit Specialist
International Trade Finance Officer
Risk Management Officer
Compliance Officer
Treasury Manager
Documentary Credits Manager
Banking Relationship Manager
Chief Financial Officer
Financial Controller
Trade Finance Legal Counsel
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