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APPLICATION
Payment Guarantee. For Trading Business
November 2008
Ref. ...........
............... LIMITED
.. ............ .......
.............
.......... (hereinafter referred to as "the Beneficiary")
Attention: Mr. ....... .........
Re : Irrevocable Revolving Bank Guarantee No. ..............for USDX,000,000.00 for 12 (Twelve) consecutive months, Non-Cummulative.
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Upon irrevocable instructions of our customer, .............., we have irrevocably reserved in his Account No. .......-...-... with ....... ....... Bank and Trust, Head Office, Xxxxxxxxxx, Xxxxxxxxxx, as of .. November 2008 until.. December 2009, the sum of USDX,000,000.00 (United States
Dollars ........ Million Only) +/- 5 (Five) per-cent in good, clean and cleared funds of on-criminal origin.
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The above funds are irrevocably reserved to cover shipment of XX.XXX MTs of ........ per month for 12 (Twelve) consecutive months, non-cummulative, pursuant to Sales and Purchase Contract No. ........ dated ..........100 (one hundred) percent of the first shipment in the amount of USD00,000.00 (United States Dollars .......... Thousand Only) shall be available within 7 (Seven) banking days upon unloading of the merchandise and every 1 (One) Calendar Month there
of for 11 (Eleven) consecutive months, non-cummulative, without any deduction of any nature, upon presentation of the documents as per Article 7.0-1 of the Sales and Purchase
Contract and the balance of 5 (Five) percent will be available every 7 (Seven) days after CIQ Inspection(s). With your claim for payment please give us your reimbursement instructions.
During the period of .. November 2008 until .. December 2009 the funds shall remain free of all liens, encumbrances and any claim of notice from ourselves. Our undertaking under this Bank Guarantee is not subjected to any agreement, condition or qualification. The obligations of the Issuing Bank under this Bank Guarantee, shall be the individual obligations of ......... ......... Bank and Trust.
This Bank Guarantee is valid until .. December 2009, after which date this Bank Guarantee becomes null and void.
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Very truly yours,
......... ......... Bank and Trust
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APPLICATION
TO :/XXXX XXXXX XXXXX XXXXX XXXX
SWIFT CODE:
FROM :/ XXXXX XXXX XXXXX XXXXXXXX
GENTLEMAEN,
BY ORDER OF WITH OURSELVES
FOR: (購貨人公司名稱及地址) WE HEREBY ISSUE OUR IRREVOCABLE STANDBY LETTER OF CREDIT NO. XXXXXXX IN FAVOUR OF (受益人公司及地址) IN THE AMOUNT OF NOT TO EXCEED USDX,XXX,XXX,.00(UNITED STATES DOLLARS XXXXXX MILLION AND 00/100), MATURING ON ,200X AND EXPRING ON , 200X IN CHINA.
DRAWINGS UNDER THIS STANDBY LETTER OF CREDIT, ARE TO BE AGAINST PRESENTRION OF THE FOLLOWING :/
(A) BENEFICIARY’S STATEMENT RO READ AS FOLLOWS: “WE CONFIRM THAT THE AMOUNT DRAWN PREESENTS THE INDEBTEDNESS FROM (購買人) PURSUAN TO THE PURCHASE OF (欲購買貨物品名) WITCH HAS BECOME DUE AND REMAING UNPAID.
(B) BENEFICIARY’S DRAFT(S) MARKED: “DRAWN UNDER STANDBY LETTER OF CREDIT NO. XXXXXX ,200X OF XXXXXXXX XXXXX XXXX XXXXX.
ADDITIONAL CONDITIONS:/
(1) IT IS A CONDITION OF THIS STANDBY LETTER OF CREDIT THAT YOUR DEMAND FOR PAYMENT AND PRESENTATION OF THE DOCUMENT(S) AND DRAFT(S), SHOULD NOT BE MADE PRIOR ITS MATURITY DATE ( ,200X) BUT IN ANY EVENT W/IN CREDIT VALIDITY DATE.
(2) ALL DOCUMENTS ARE TO BE SENT TO US AT OUR ABOVE ADDRESS IN ONE SET BY AIR-COURIER SERVICE.
ALL BANKING CHARGES INCLURRED OUTSIDE OUR BANK, ARE FOR ACCOUNT OF THE BENEFICIARY.
WE HEREBY ENGAGE WITH THE DRAWERS, ENDORSERS AND BONA-FIDE HOLDERS OF DRAFTS DRAWN UNDER AND IN CONFORMITY WITH THE TERMS AND CONDITIONS OF THIS CREDIT, THAT THE SAME SHALL BE DULY HONORED ON DUE PRESENTATION TO US.
THIS STANDBY LETTER OF CREDIT IS SUBJECT TO INTERNATIONAL STANDBY PRATICES – ISP98, ICC PUBLICATION NO. 590.
THIS IS THE OPERATIVE INSTRUMENT, NO MAIL CONFIRMATION TO WILL FOLLOW.
PLS NOTIFY BENEFICIARY WITHOUT ADDING YOUR CONFIRMATION THROUGH BANK OF (通知銀行)
RGDS.
敝集團近年來皆從以下幾家世界知名銀行開出BANK GUARANTEE
CITI BANK U.S.A
BANK OF AMERICA U.S.A
BARCLAYS BANK PLC U.K
WELLS FARGO BANK LTD U.S.A
U B S AG SWITZERLAND
GAZPROM BANK RUSSIAN |
