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Standby Letter Of Credit For Lease
"I need a Standby Letter of Credit For Lease to be issued by DBS Bank for our new retail space at Marina Bay Sands, with a credit amount of SGD 500,000 and expiry date of March 15, 2025, including provision for automatic extension."
1. Issuing Bank Details: Full legal name, address, and contact information of the issuing bank
2. Beneficiary Details: Complete information of the landlord/lessor including legal name, registration number, and address
3. Applicant Details: Complete information of the tenant/lessee including legal name, registration number, and address
4. Credit Amount: Specific amount of the standby letter of credit, currency, and any automatic adjustment provisions
5. Property Reference: Description and address of the leased property and reference to the underlying lease agreement
6. Validity Period: Expiry date and time of the SLOC, including any automatic extension provisions
7. Drawing Conditions: Specific conditions and circumstances under which the SLOC can be drawn
8. Required Documents: Comprehensive list of documents required to be presented for drawing on the SLOC
1. Automatic Extension Clause: Optional provision detailing the terms and conditions for automatic extension of the SLOC in line with lease extensions
2. Partial Drawing Rights: Optional clause allowing for multiple partial drawings against the SLOC amount
3. Transfer Provisions: Optional terms governing the transfer of SLOC rights to another beneficiary in case of property ownership changes
4. Electronic Presentation: Optional provisions for electronic presentation of documents and demands
1. Form of Demand: Standard template for making a demand under the SLOC, including required declarations and certifications
2. Lease Agreement Details: Key details of the underlying lease agreement including dates, parties, and property description
3. Bank's Standard Terms: Standard terms and conditions of the issuing bank applicable to SLOCs
4. Required Declarations: Templates of any required declarations or certifications needed for drawing on the SLOC
Authors
Beneficiary
Applicant
Letter of Credit
Credit Amount
Drawing
Lease Agreement
Lease Default
Expiry Date
Business Day
Demand Notice
Property
Lease Term
Payment Obligation
Drawing Documents
Presentation
Banking Day
Singapore Dollars
Security Deposit
Force Majeure
Governing Law
Notice
Premises
Rent
Transfer Rights
Automatic Extension
Default Event
Documentary Requirements
Original Letter of Credit
Supporting Documents
Credit Amount
Term and Expiry
Drawing Conditions
Documentary Requirements
Payment Terms
Bank Obligations
Force Majeure
Assignment and Transfer
Governing Law
Dispute Resolution
Notices
Amendment Provisions
Automatic Extension
Partial Drawings
Default Events
Presentation Requirements
Bank Fees and Charges
Representations and Warranties
Indemnification
Cancellation
Severability
Entire Agreement
Language
Time of Essence
Waiver
Counterparts
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