BELOW THE CORRECT TEXT FOR THE SWIFT MT 799 PRE-ADVICE FOR A
\nSBLC \/ PAYMENT GUARANTEE FROM ISSUER\u2019S BANK TO RECEIVER\u2019S BANK:<\/p>\n
Date:
\nSender\u2019s Details:
\nBank Name :
\nBank Address :
\nBank Account Name :
\nBank Swift Code :
\nBank Account No. :
\nBank Officer :
\nCurrency :
\nAmount :
\nPlace of Issue :
\nBeneficiary :
\nTransaction Code :
\nReceiver\u2019s Details:
\nBank Name:
\nBank Address:
\nAccount Name:
\nAccount No.\/IBAN:
\nSwift Code :
\nBank Officer:
\nEmail :<\/p>\n
EURO
\n\u20acXXX.000.000,00 (___________ Million EURO and no Cents)
\n_______________________________________
\n______________________
\n_____________________________
\n________________________________
\n__________________
\n_______________________________
\n____________________________
\n________________________<\/p>\n
WE, __________ (NAME OF BANK), WITH REGISTERED ADDRESS AT
\n_________________, REPRESENTED BY THE UNDERSIGNED OFFICERS,
\nHEREBY CONFIRM WITH FULL BANK RESPONSIBILITY AND LIABILITY ON
\nBEHALF OF OUR CLIENT _______________ (NAME AND ADDRESS OF
\nAPPLICANT), ACCOUNT NO. ________________ (ACCOUNT NUMBER OF
\nAPPLICANT) THAT WE ARE READY, WILLING AND ABLE TO DELIVER, VIA
\nSWIFT MT760 AS PER THE BELOW WORDING, OUR IRREVOCABLE AND
\nUNCONDITIONAL CASH-BACKED STAND-BY LETTER OF CREDIT IN
\nACCORDANCE TO ICC UNIFORM CUSTOMS AND PRACTICE FOR
\nDOCUMENTARY CREDITS UCP 600, LATEST REVISION AS WELL AS ISP 98
\n(DESIGNATED ICC PUBL. NO. 590). THIS SBLC WILL BE USED BY YOU AS
\nCOLLATERAL FOR YOUR CREDIT FACILITIES ENABLING YOUR INSTITUTION
\nTO FINANCE THE PROJECTS OF OUR CLIENT, UNDER THE TRANSACTION
\nCODE: XX.XX.XXXX.
\nTHE SBLC TO BE ISSUED BY _________ (NAME OF ISSUING BANK) IN
\nFAVOUR OF _____________________________, BANK ACCOUNT NUMBER
\n______________________, WITH A PRINCIPAL FACE VALUE OF
\n\u20acXXX,X00,000.00 (_______ HUNDRED MILLION _______ EURO AND NO
\nCENTS), WITH VERBIAGE CONTAINED HEREIN OF THIS TRANSMISSION.
\nWE FURTHER CONFIRM THAT THIS STAND-BY LETTER OF CREDIT IS
\nCASH-BACKED AND IS ASSIGNABLE, TRANSFERABLE, PARTIAL
\nDRAWABLE, UNCONDITIONALLY CALLABLE UPON REQUEST OF THE
\nFINAL DESIGNATED BENEFICIARY.<\/p>\n
1<\/p>\n
WE FURTHER CONFIRM THAT THE CASH FUNDS BACKING THIS STAND-BY
\nLETTER OF CREDIT ARE OWNED CLEARED AND FREE FROM ANY LIENS
\nAND ENCUMBRANCES AND THE RULE OF FULL DISCLOSURE CONFIRMS
\nTHESE FUNDS WERE EARNED AND DERIVED FROM LEGAL BUSINESS
\nUNDERTAKINGS.
\nPLEASE RESPOND VIA SWIFT MT799, THUS CONFIRMING THAT YOU
\nARE READY TO RECEIVE THE STAND-BY LETTER OF CREDIT.
\nOUR CUSTOMER ADVISES US THAT YOUR CLIENT HAS FULLY APPRISED
\nYOU OF THE ARRANGEMENT. THERE WILL BE NO LIENS AND
\nENCUMBRANCES ON THIS INSTRUMENT, WHICH SHALL BE DELIVERED
\nAND AVAILED VIA MT760 AND THE EXACT TEXT OF THE STAND-BY LETTER
\nOF CREDIT SHALL BE AS BELOW STATED.
\nWE, THE UNDERSIGNED OFFICIALS, ARE AUTHORIZED TO ISSUE THIS
\nCONFIRMATION SWIFT MESSAGE AND SUBSEQUENTLY THE ORIGINAL
\nSTAND-BY LETTER OF CREDIT VIA SWIFT MT760.
\nTHIS SWIFT MESSAGE DOES NOT REPRESENT A CREDIT INSTRUMENT AND
\nMAY BE VERIFIED WITH THE UNDERSIGNED BY YOUR DESIGNATED
\nBANKERS.<\/p>\n
DRAFT TEXT OF STAND-BY LETTER OF CREDIT
\n(SPACE FOR THE USUAL HEADER BANK-TO-BANK)
\n——————————— START MT760 QUOTE———————-
\nSUBJECT: CASH-BACKED SBLC UNDER ICC FORMAT UCP 600<\/p>\n
AMOUNT<\/p>\n
:
\n\u20acXXX,X00,0
\n00.00
\n(_______
\nHUNDRED
\nMILLION
\nEURO)
\nBENEFICIARY:_________________________________
\nTRANSACTION CODE :
\nNARRATIVE:
\nWE, __________________ (NAME AND ADDRESS OF ISSUING BANK), AT THE
\nREQUEST OF THE ABOVE REFERENCED CLIENT, HEREWITH OPEN OUR
\nCASH-BACKED STANDBY LETTER OF CREDIT \u2116 \u2591 \u2591 \u2591 \u2591 \u2591 \u2591 \u2591 \u2591 \u2591 \u2591 AS
\nFOLLOWS:
\nFOR VALUE RECEIVED BY US, WE, ____________________ (NAME AND
\nADDRESS OF ISSUING BANK), HEREBY IRREVOCABLY, UNCONDITIONALLY
\nWITHOUT PROTEST OR NOTIFICATION PROMISE TO PAY AGAINST THIS
\nSTANDBY LETTER OF CREDIT \u2116 \u2591 \u2591 \u2591 \u2591 \u2591 \u2591 \u2591 \u2591 \u2591 IN FAVOR OF
\n______________________, ACCOUNT NO.________________________ AS
\nTHE BENEFICIARY \u2591 ON MATURITY DATE OF (ONE
\nYEAR AND TEN BANKING DAYS FROM DATE OF ISSUE) THE SUM OF
\n\u20acXXX,X00,000.00 (_______ MILLION ________ EURO) IN THE LAWFUL<\/p>\n
2<\/p>\n
CURRENCY OF THE EUROPEAN UNION, UPON PRESENTATION TO US OF
\nTHE ORIGINAL OF THIS STAND-BY LETTER OF CREDIT AT OUR COUNTERS
\nON MATURITY, BUT NOT LATER THAN FIFTEEN (15) DAYS AFTER THE
\nMATURITY DATE.
\nSUCH PAYMENT SHALL BE MADE WITHOUT SET-OFF AND CLEAR OF ANY
\nDEDUCTIONS, OR CHARGES, FEES OR WITHHOLDING OF ANY NATURE,
\nNOW OR HEREINAFTER IMPOSED, LEVIED, COLLECTED, WITHHELD OR
\nASSESSED BY THE GOVERNMENT OF THE ISSUING COUNTRY OR ANY
\nPOLITICAL SUBDIVISION OR AUTHORITY THEREOF OR THEREIN.
\nTHIS STANDBY LETTER OF CREDIT IS SUBJECT TO THE UNIFORM
\nCUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS UNDER ICC
\nPUBLICATION NO. 600L, 2007 REVISION, AND TO THE ISP 98 (DESIGNATED
\nICC PUBL. NO. 590). WE FURTHER CONFIRM THAT THIS STANDBY LETTER
\nOF CREDIT IS CASH-BACKED AND IS ASSIGNABLE, TRANSFERABLE, AND
\nDIVISIBLE WITHOUT PRESENTATION TO US AND WITHOUT ANY PAYMENT
\nOF ANY TRANSFER FEE. FURTHER, THIS STAND-BY LETTER OF CREDIT IS
\nPARTIAL DRAWABLE AND UNCONDITIONALLY CALLABLE UPON
\nMATURITY. WE HEREBY IRREVOCABLY AGREE TO SUBMIT TO THE NON-
\nEXCLUSIVE JURISDICTION OF THE COURTS OF SWITZERLAND.
\nTHIS IS AN OPERATIVE INSTRUMENT, AND A HARD LETTER COPY
\nSHALL FOLLOW UPON REQUEST OF THE RECEIVING BANK WITHIN 7
\nDAYS AFTER ACCEPTANCE OF THE SBLC.
\nFOR AND ON BEHALF OF \u2591__________________\u2591 (NAME OF ISSUING BANK)
\n———————————–End MT760 quote———————–
\nEND OF NARRATIVE
\nTHIS RWA\/PRE-ADVICE IS VALID FOR SEVEN (7) INTERNATIONAL BANKING
\nDAYS ONLY AS AN OPERATIVE INSTRUMENT, NO MAIL CONFIRMATION WILL
\nFOLLOW. ALL CHARGES ARE FOR THE ACCOUNT OF APPLICANT.
\nSINCERELY,
\n____________________________ ___________________________
\nBANK OFFICER: TITLE: BANK OFFICER:<\/p>\n
TITLE:<\/p>\n","protected":false},"excerpt":{"rendered":"
BELOW THE CORRECT TEXT FOR THE SWIFT MT 799 PRE-ADVICE FOR A SBLC \/ PAYMENT GUARANTEE FROM ISSUER\u2019S BANK TO RECEIVER\u2019S BANK: Date: Sender\u2019s Details: Bank Name : Bank Address : Bank Account Name : Bank Swift Code : Bank Account No. : Bank Officer…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,54],"tags":[599,600,598],"class_list":["post-843","post","type-post","status-publish","format-standard","hentry","category-bank-guurantee-bg","category-bank-instruments","tag-icc-publ-no-590","tag-sblc-verbiage","tag-swift-mt-799-pre-advice"],"yoast_head":"\n