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ISSUING_BANK_NAME

To: BENFICIARY_NAME

Dear Sirs/Madams,

Irrevocable Standby Letter of Credit No. SBLC_NUMBER.

At the request and for the 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 MAXIMUM_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 (JURISDICTION_STATE time) in JURISDICTION_STATE 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 listed.

Partial payments and multiple presentations are allowed.

All bank charges are for the Applicant’s account.

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