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Standby Letter of Credit

Demand / Drawdown Letter

This is a Demand / Drawdown Letter for payment under Standby Letter of Credit issued by an Issuer for a Beneficiary. This is a demand letter from the Beneficiary to the Issuing Bank demanding for payment under the SBLC, which is usually sent when the terms of the original SBLC are fulfilled and the applicant has failed to pay / default on its obligation. 

How to use this Document? 

This document should be used by the Beneficiary to the Issuing Bank to certify that a certain sum is due under the letter of credit and therefore to demand payment of that sum under the SBLC. It should be used in the circumstance where the terms of the SBLC are fulfilled but the applicant has failed to pay or defaulted on the obligations. 

The document should be carefully read by the Issuing Bank and the Beneficiary.

Both the Bank and Beneficiary should sign and return a copy, and once signed, both parties should get a copy. To avoid any future disputes, both parties may wish to have their signatures witnessed.

If either party wishes to amend the agreement in the future, both parties should agree to do so, and the original agreement and amendments should be recorded in writing and signed by both parties.

How to Tailor the Document for Your Need?

1. Click the “Create Document” button and fill in the details of the parties. You can click the “Fill with Member’s Information” button to complete the party’s information with your personal or business information saved to your account.

2. Please fill in any additional information by following the step-by-step guide on the left-hand side of the preview document and click the “Next” button.

3. When you are done, click the “Get Document” button and you can download the document in Word or PDF format.

4. Please review the document carefully and make any final modifications to ensure that the details are correct before sending to the addressee. 

 
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