Irrevocable Standby Letter of Credit No. SBLC_NUMBER.
At the request and for account of APPLICANT_NAME (hereinafter called the “Applicant”), we hereby establish our irrevocable Standby Letter of Credit in your favour up to an aggregate maximum amount of CURRENCYMAXIMUM_AMOUNT (“The Maximum Amount”) as security for the purpose of our obligations under AGREEMENT_NAME dated ORIGINAL_AGREEMENT_DATE. This Standby Letter of Credit is payable against your demand via facsimile, tested telex or authenticated SWIFT for up to the Maximum Amount.
This Standby Letter of Credit is effective from EFFECTIVE_DATE and expires at EXPIRYTIME AMPM (COUNTRYEXPIRE time) in COUNTRYEXPIRE on EXPIRY_DATE (the “Expiry Date”)
We hereby agree that all demands presented in conformity with the terms of this Standby Letter of Credit shall be duly honoured by us and we shall remit the payment within PAYMENTDATE banking days upon receipt of documents complying with the credit terms and conditions.
Partial payments and multiple presentations are allowed.
All bank charges are for the Applicant’s account.
We confirm that (1) all authorisations and approvals (including any approval limit from the State Administration of Foreign Exchange) required to enable us to lawfully issue and perform this Standby Letter of Credit have been obtained and are in full force and effect; and (2) we have complied, and will at all times comply, with all applicable laws and regulations of the People’s Republic of China in relation to this Standby Letter of Credit.