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Bond Letter Of Credit
"Need a Bond Letter of Credit for a construction project in Singapore, with a value of SGD 5 million, to be issued by DBS Bank in favor of our main contractor, valid until March 2025 with an option for extension."
1. 1. Bank Details: Full identification of the issuing bank including name, registration number, address, and authorized signatories
2. 2. Credit Amount and Currency: Specific amount of the letter of credit, currency denomination, and any provisions for variation
3. 3. Beneficiary Information: Complete details of the beneficiary including full legal name, registration number, and address
4. 4. Validity Period: Expiry date and place of the letter of credit, including any auto-extension clauses
5. 5. Drawing Terms: Specific conditions and requirements for drawing under the credit
6. 6. Documentation Requirements: Comprehensive list of required documents and their specifications for presentation
7. 7. Governing Law and Jurisdiction: Specification of Singapore law as governing law and jurisdiction clauses
1. Transferability Provisions: Optional section specifying terms and conditions for transfer of the credit to another beneficiary
2. Partial Drawings: Optional provisions regarding partial drawings and their conditions
3. Silent Confirmation: Optional provisions for silent confirmation by another bank
4. Electronic Presentation: Optional terms for electronic presentation of documents under eUCP
1. Schedule A - Required Documents: Detailed checklist of all required documents and their specific requirements
2. Schedule B - Payment Terms: Detailed payment conditions, timing, and mechanisms
3. Schedule C - Form of Demand: Standard template for making demands under the letter of credit
4. Schedule D - Bank's Standard Terms: Standard terms and conditions of the issuing bank applicable to letters of credit
5. Appendix 1 - Authorized Signatories: List of authorized signatories and specimen signatures
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