TEXT FOR THE SWIFT MT 799 PRE-ADVICE FOR A SBLC / PAYMENT GUARANTEE FROM ISSUER’S BANK TO RECEIVER’S BANK:

27 Jun TEXT FOR THE SWIFT MT 799 PRE-ADVICE FOR A SBLC / PAYMENT GUARANTEE FROM ISSUER’S BANK TO RECEIVER’S BANK:

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BELOW THE CORRECT TEXT FOR THE SWIFT MT 799 PRE-ADVICE FOR A
SBLC / PAYMENT GUARANTEE FROM ISSUER’S BANK TO RECEIVER’S BANK:

Date:
Sender’s Details:
Bank Name :
Bank Address :
Bank Account Name :
Bank Swift Code :
Bank Account No. :
Bank Officer :
Currency :
Amount :
Place of Issue :
Beneficiary :
Transaction Code :
Receiver’s Details:
Bank Name:
Bank Address:
Account Name:
Account No./IBAN:
Swift Code :
Bank Officer:
Email :

EURO
€XXX.000.000,00 (___________ Million EURO and no Cents)
_______________________________________
______________________
_____________________________
________________________________
__________________
_______________________________
____________________________
________________________

WE, __________ (NAME OF BANK), WITH REGISTERED ADDRESS AT
_________________, REPRESENTED BY THE UNDERSIGNED OFFICERS,
HEREBY CONFIRM WITH FULL BANK RESPONSIBILITY AND LIABILITY ON
BEHALF OF OUR CLIENT _______________ (NAME AND ADDRESS OF
APPLICANT), ACCOUNT NO. ________________ (ACCOUNT NUMBER OF
APPLICANT) THAT WE ARE READY, WILLING AND ABLE TO DELIVER, VIA
SWIFT MT760 AS PER THE BELOW WORDING, OUR IRREVOCABLE AND
UNCONDITIONAL CASH-BACKED STAND-BY LETTER OF CREDIT IN
ACCORDANCE TO ICC UNIFORM CUSTOMS AND PRACTICE FOR
DOCUMENTARY CREDITS UCP 600, LATEST REVISION AS WELL AS ISP 98
(DESIGNATED ICC PUBL. NO. 590). THIS SBLC WILL BE USED BY YOU AS
COLLATERAL FOR YOUR CREDIT FACILITIES ENABLING YOUR INSTITUTION
TO FINANCE THE PROJECTS OF OUR CLIENT, UNDER THE TRANSACTION
CODE: XX.XX.XXXX.
THE SBLC TO BE ISSUED BY _________ (NAME OF ISSUING BANK) IN
FAVOUR OF _____________________________, BANK ACCOUNT NUMBER
______________________, WITH A PRINCIPAL FACE VALUE OF
€XXX,X00,000.00 (_______ HUNDRED MILLION _______ EURO AND NO
CENTS), WITH VERBIAGE CONTAINED HEREIN OF THIS TRANSMISSION.
WE FURTHER CONFIRM THAT THIS STAND-BY LETTER OF CREDIT IS
CASH-BACKED AND IS ASSIGNABLE, TRANSFERABLE, PARTIAL
DRAWABLE, UNCONDITIONALLY CALLABLE UPON REQUEST OF THE
FINAL DESIGNATED BENEFICIARY.

WE FURTHER CONFIRM THAT THE CASH FUNDS BACKING THIS STAND-BY
LETTER OF CREDIT ARE OWNED CLEARED AND FREE FROM ANY LIENS
AND ENCUMBRANCES AND THE RULE OF FULL DISCLOSURE CONFIRMS
THESE FUNDS WERE EARNED AND DERIVED FROM LEGAL BUSINESS
UNDERTAKINGS.
PLEASE RESPOND VIA SWIFT MT799, THUS CONFIRMING THAT YOU
ARE READY TO RECEIVE THE STAND-BY LETTER OF CREDIT.
OUR CUSTOMER ADVISES US THAT YOUR CLIENT HAS FULLY APPRISED
YOU OF THE ARRANGEMENT. THERE WILL BE NO LIENS AND
ENCUMBRANCES ON THIS INSTRUMENT, WHICH SHALL BE DELIVERED
AND AVAILED VIA MT760 AND THE EXACT TEXT OF THE STAND-BY LETTER
OF CREDIT SHALL BE AS BELOW STATED.
WE, THE UNDERSIGNED OFFICIALS, ARE AUTHORIZED TO ISSUE THIS
CONFIRMATION SWIFT MESSAGE AND SUBSEQUENTLY THE ORIGINAL
STAND-BY LETTER OF CREDIT VIA SWIFT MT760.
THIS SWIFT MESSAGE DOES NOT REPRESENT A CREDIT INSTRUMENT AND
MAY BE VERIFIED WITH THE UNDERSIGNED BY YOUR DESIGNATED
BANKERS.

DRAFT TEXT OF STAND-BY LETTER OF CREDIT
(SPACE FOR THE USUAL HEADER BANK-TO-BANK)
——————————— START MT760 QUOTE———————-
SUBJECT: CASH-BACKED SBLC UNDER ICC FORMAT UCP 600

AMOUNT

:
€XXX,X00,0
00.00
(_______
HUNDRED
MILLION
EURO)
BENEFICIARY:_________________________________
TRANSACTION CODE :
NARRATIVE:
WE, __________________ (NAME AND ADDRESS OF ISSUING BANK), AT THE
REQUEST OF THE ABOVE REFERENCED CLIENT, HEREWITH OPEN OUR
CASH-BACKED STANDBY LETTER OF CREDIT № ░ ░ ░ ░ ░ ░ ░ ░ ░ ░ AS
FOLLOWS:
FOR VALUE RECEIVED BY US, WE, ____________________ (NAME AND
ADDRESS OF ISSUING BANK), HEREBY IRREVOCABLY, UNCONDITIONALLY
WITHOUT PROTEST OR NOTIFICATION PROMISE TO PAY AGAINST THIS
STANDBY LETTER OF CREDIT № ░ ░ ░ ░ ░ ░ ░ ░ ░ IN FAVOR OF
______________________, ACCOUNT NO.________________________ AS
THE BENEFICIARY ░ ON MATURITY DATE OF (ONE
YEAR AND TEN BANKING DAYS FROM DATE OF ISSUE) THE SUM OF
€XXX,X00,000.00 (_______ MILLION ________ EURO) IN THE LAWFUL

CURRENCY OF THE EUROPEAN UNION, UPON PRESENTATION TO US OF
THE ORIGINAL OF THIS STAND-BY LETTER OF CREDIT AT OUR COUNTERS
ON MATURITY, BUT NOT LATER THAN FIFTEEN (15) DAYS AFTER THE
MATURITY DATE.
SUCH PAYMENT SHALL BE MADE WITHOUT SET-OFF AND CLEAR OF ANY
DEDUCTIONS, OR CHARGES, FEES OR WITHHOLDING OF ANY NATURE,
NOW OR HEREINAFTER IMPOSED, LEVIED, COLLECTED, WITHHELD OR
ASSESSED BY THE GOVERNMENT OF THE ISSUING COUNTRY OR ANY
POLITICAL SUBDIVISION OR AUTHORITY THEREOF OR THEREIN.
THIS STANDBY LETTER OF CREDIT IS SUBJECT TO THE UNIFORM
CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS UNDER ICC
PUBLICATION NO. 600L, 2007 REVISION, AND TO THE ISP 98 (DESIGNATED
ICC PUBL. NO. 590). WE FURTHER CONFIRM THAT THIS STANDBY LETTER
OF CREDIT IS CASH-BACKED AND IS ASSIGNABLE, TRANSFERABLE, AND
DIVISIBLE WITHOUT PRESENTATION TO US AND WITHOUT ANY PAYMENT
OF ANY TRANSFER FEE. FURTHER, THIS STAND-BY LETTER OF CREDIT IS
PARTIAL DRAWABLE AND UNCONDITIONALLY CALLABLE UPON
MATURITY. WE HEREBY IRREVOCABLY AGREE TO SUBMIT TO THE NON-
EXCLUSIVE JURISDICTION OF THE COURTS OF SWITZERLAND.
THIS IS AN OPERATIVE INSTRUMENT, AND A HARD LETTER COPY
SHALL FOLLOW UPON REQUEST OF THE RECEIVING BANK WITHIN 7
DAYS AFTER ACCEPTANCE OF THE SBLC.
FOR AND ON BEHALF OF ░__________________░ (NAME OF ISSUING BANK)
———————————–End MT760 quote———————–
END OF NARRATIVE
THIS RWA/PRE-ADVICE IS VALID FOR SEVEN (7) INTERNATIONAL BANKING
DAYS ONLY AS AN OPERATIVE INSTRUMENT, NO MAIL CONFIRMATION WILL
FOLLOW. ALL CHARGES ARE FOR THE ACCOUNT OF APPLICANT.
SINCERELY,
____________________________ ___________________________
BANK OFFICER: TITLE: BANK OFFICER: