To: The Bank of East Asia Limited, Head Office
From:
Date:
We hereby issue our irrevocable Standby Letter of Credit No.XXXXXX in favor of The Bank of East Asia Limited, Head Office for the amount of USDXXXXX (say U.S.dollars XXXXXXy)
In consideration of your granting of credit facilities to , applicant xxxxxxx Ltd.requested to issue this Standby Letter of Credit. This Standby Letter of Credit shall become effective from DD.MM.YEAR and shall expire on DD.MM.YEAR at our counter.
This credit is available by payment with us against your draft(s) drawn at sight for full statement value on us accompanied by the following documents.
Your signed statement indicating the amount to be claimed and also certifying that the amount indicated hereof represents and covers the unpaid balance of indebtedness up to the aggregate amount of USDxxxxx due to yourselves arising out of your granting of credit facilities to YYY Company Limited. .
All drafts and documents drawn hereunder must indicate the number and date of this credit and also the name of issuing bank of this credit.
Partial drawings are allowed.
All charges outside in connection with this credit shall be for account of beneficiary.
All drafts and documents should be forwarded to , xxxxxxx branch (at xxxxxxxx, ) by airmail under SWIFT/Telex Advise to us on or before expiry date.
In reimbursement, we will remit the proceeds to your designated bank upon within 3 business day receipt of your draft(s) and documents specified above.
This standby letter of credit is subject to“The uniform customs and practice for documentary credits 1997 Revision, ICC Publication No.600.”
This is the original credit, no mail confirmation will follow.
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