Create a bespoke document in minutes, or upload and review your own.
Get your first 2 documents free
Your data doesn't train Genie's AI
You keep IP ownership of your information
Backstop Letter Of Credit
"Need a Backstop Letter of Credit for a construction project in Singapore, with a credit amount of USD 5 million, expiring on March 15, 2025, with weekly partial drawing rights and electronic presentation capabilities."
1. Issuing Bank Details: Complete legal name, registration details, and authorized signatories of the issuing bank
2. Beneficiary Details: Complete legal name and address of the beneficiary of the backstop letter of credit
3. Credit Amount and Currency: Specified amount, currency, and any tolerance levels of the backstop letter of credit
4. Term and Expiry: Effective date, expiry date, and any auto-extension provisions of the credit
5. Drawing Conditions: Specific terms and conditions under which the credit may be drawn, including required documentation
6. Governing Law and Jurisdiction: Specification of Singapore law as governing law and jurisdiction for disputes
7. Regulatory Compliance: Statement of compliance with UCP 600, ISP98, and applicable MAS regulations
1. Transfer Rights: Optional section specifying whether and how the credit may be transferred to another beneficiary
2. Partial Drawings: Optional section detailing provisions for multiple or partial drawings under the credit
3. Revolving Terms: Optional section specifying terms for automatic reinstatement of the credit amount
4. Electronic Presentation: Optional section detailing terms for electronic presentation of documents under eUCP
1. Schedule A - Form of Demand: Standard template for making drawings under the backstop letter of credit
2. Schedule B - Required Documents: Comprehensive list of documents required for drawing under the credit
3. Schedule C - Fee Schedule: Details of all applicable fees, charges, and commission rates
4. Schedule D - Original LC Details: Details of the primary letter of credit being supported by this backstop LC
5. Schedule E - Authorized Signatories: List of authorized signatories and specimen signatures for the issuing bank
Authors
Applicable Rate
Backstop LC
Banking Day
Beneficiary
Business Day
Confirmation
Drawing
Drawing Amount
Effective Date
Event of Default
Expiry Date
Fees
Force Majeure Event
Governing Law
ICC
ISP98
Issuing Bank
Letter of Credit
Maximum Credit Amount
Original Letter of Credit
Parties
Payment Date
Presentation
Primary LC
Relevant Documents
SWIFT
Term
Transfer Rights
UCP 600
Underlying Transaction
Drawing Conditions
Payment Terms
Reimbursement
Fees and Charges
Expiry and Termination
Documentation Requirements
Representations and Warranties
Bank's Rights and Obligations
Governing Law and Jurisdiction
Force Majeure
Notices
Assignment and Transfer
Amendments
Indemnification
Default Events
Compliance with Laws
Anti-Money Laundering
Sanctions Compliance
Electronic Presentations
Dispute Resolution
Severability
Confidentiality
Counterparts
Entire Agreement
Find the exact document you need
Download our whitepaper on the future of AI in Legal
Genie’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; Genie’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
Our bank-grade security infrastructure undergoes regular external audits
We are ISO27001 certified, so your data is secure
Organizational security
You retain IP ownership of your documents
You have full control over your data and who gets to see it
Innovation in privacy:
Genie partnered with the Computational Privacy Department at Imperial College London
Together, we ran a £1 million research project on privacy and anonymity in legal contracts
Want to know more?
Visit our Trust Centre for more details and real-time security updates.
Read our Privacy Policy.