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Bond Letter Of Credit
"Need a Bond Letter of Credit for a construction project in Singapore, with a value of SGD 5 million, to be issued by DBS Bank in favor of our main contractor, valid until March 2025 with an option for extension."
1. 1. Bank Details: Full identification of the issuing bank including name, registration number, address, and authorized signatories
2. 2. Credit Amount and Currency: Specific amount of the letter of credit, currency denomination, and any provisions for variation
3. 3. Beneficiary Information: Complete details of the beneficiary including full legal name, registration number, and address
4. 4. Validity Period: Expiry date and place of the letter of credit, including any auto-extension clauses
5. 5. Drawing Terms: Specific conditions and requirements for drawing under the credit
6. 6. Documentation Requirements: Comprehensive list of required documents and their specifications for presentation
7. 7. Governing Law and Jurisdiction: Specification of Singapore law as governing law and jurisdiction clauses
1. Transferability Provisions: Optional section specifying terms and conditions for transfer of the credit to another beneficiary
2. Partial Drawings: Optional provisions regarding partial drawings and their conditions
3. Silent Confirmation: Optional provisions for silent confirmation by another bank
4. Electronic Presentation: Optional terms for electronic presentation of documents under eUCP
1. Schedule A - Required Documents: Detailed checklist of all required documents and their specific requirements
2. Schedule B - Payment Terms: Detailed payment conditions, timing, and mechanisms
3. Schedule C - Form of Demand: Standard template for making demands under the letter of credit
4. Schedule D - Bank's Standard Terms: Standard terms and conditions of the issuing bank applicable to letters of credit
5. Appendix 1 - Authorized Signatories: List of authorized signatories and specimen signatures
Authors
Applicant
Banking Day
Beneficiary
Bond Value
Claim Period
Conforming Presentation
Credit
Drawing
Effective Date
Expiry Date
Guarantee Amount
Issuing Bank
Letter of Credit
Nominated Bank
Presentation
Principal
Required Documents
SWIFT
Standby Credit
Transfer
UCP 600
Underlying Transaction
Valid Claim
Form of Demand
Payment Terms
Documentation Requirements
Expiry and Validity
Governing Law
Drawing Conditions
Transferability
Amendment Provisions
Force Majeure
Assignment
Notices
Default Events
Dispute Resolution
Compliance with Laws
Fees and Charges
Anti-Money Laundering
Disclaimers
Severability
Entire Agreement
Bank's Rights and Obligations
Beneficiary's Rights and Obligations
Presentation Requirements
Electronic Communications
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