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Counter Standby Letter Of Credit
"Need a Counter Standby Letter of Credit to be issued by DBS Bank Singapore in favor of HSBC Hong Kong, backing an existing SBLC worth USD 5 million for a construction project, with validity until March 2025."
1. Issuing Bank Details: Complete identification and contact information of the bank issuing the Counter SBLC
2. Original SBLC Reference: Details and reference numbers of the original SBLC being counter-guaranteed
3. Beneficiary Information: Complete identification and contact information of the beneficiary bank
4. Amount and Currency: Specification of the Counter SBLC amount and currency, including any automatic adjustment mechanisms
5. Validity Period: Clear statement of the effective date and expiry date of the Counter SBLC
6. Drawing Terms and Conditions: Detailed conditions and procedures for making a valid drawing under the Counter SBLC
7. Governing Law and Jurisdiction: Specification of Singapore law as governing law and jurisdiction for dispute resolution
1. Automatic Extension Clause: Optional provision for automatic extension of the Counter SBLC validity under specified conditions
2. Partial Drawing Provisions: Optional terms allowing and regulating partial drawings under the Counter SBLC
3. Transfer Restrictions: Optional clause specifying any restrictions on transferability of the Counter SBLC
4. Force Majeure: Optional provisions dealing with circumstances beyond reasonable control affecting the Counter SBLC
1. Schedule 1 - Form of Demand: Standard template for making a compliant demand under the Counter SBLC
2. Schedule 2 - Original SBLC: Copy of the original SBLC being counter-guaranteed
3. Schedule 3 - Authentication Requirements: Specified documentation and procedures required for authenticating demands
4. Schedule 4 - Fee Schedule: Details of all applicable fees, charges and commission rates
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