SpecimenFormat- LETTER OF CREDIT vs BANK GUARANTEE ---------------------------------------------------------------------------------------------------------------- MESSAGE CONTENT : {1:F01BOMLAEADAXXX4887345379}{2:O7002036210715OCBCSGSGAXXX74839102172107151636N}{3:{108:001}}{4: :27:1/1 :40A:IRREVOCABLE :20:XXXXX :31C:210715 :40E:UCP LATEST VERSION :31D:XXXX COUNTRY NAME :50:APPLICANT NAME APPLICANTS ADDRESS :59: BENEFICIARY NAME BENEFICIARY ADDRESS :32B:XXXXXXXXXXX :41D:ANY BANK AT SIGHT BY NEGOTIATION :43P:ALLOWED :43T:NOT ALLOWED :44E:ANY UAE PORT :44F:SINGAPORE :44C:210914 :45A:GENUINE SPARE PARTS . CFR SINGAPORE (INCOTERMS 2010) :46A:1. SIGNED COMMERCIAL INVOICE INTRIPLICATE. 2. FULL SET OF 3/3 CLEAN 'ON BOARD'OCEAN BILLS OF LADING WITH 2 NON-NEGOTIABLE COPIES MADE OUT TO THEORDER OF BANK NAME(XXX) 'FREIGHT PREPAID' AND NOTIFY THE APPLICANT. 3. COPY OF SHIPPER'S ADVICE TO XXX INSURANCE(SINGAPORE) PTE
LTD, 4 SHENTON WAY, HEX21-01 SGX CENTRE2, SINGAPORE 068807,
FAX NUMBER XXX DECLARING PARTICULARS OFSHIPMENT AND
QUOTING OPEN POLICY NO : XXXX
:47A:1. ALL BANK CHARGES ARE FORACCOUNT OF BENEFICIARY EXCEPT
LC ISSUING BANK CHARGES
2. A DISCREPANCY HANDLING FEE OFUSD75.00 OR EQUIVALENT FOR
EACH SET OF INVOICES / SHIPPINGDOCUMENTS CONTAINED WITHIN
A PRESENTATION WILL BE DEDUCTED FROMPROCEEDS IF RESPECTIVE
DOCUMENTS ARE TO CONTAIN DISCREPANCIES.
3. DOCUMENTS TO BE PRESENTED WITHIN 21DAYS AFTER THE DATE
OF SHIPMENT BUT WITHIN THE VALIDITY OFTHE CREDIT.
4. ALL DOCUMENTS MUST BE PRESENTED TOUS THROUGH BENEFICIARY'S
BANKER.
5. UNLESS OTHERWISE STATED, ALLDOCUMENTS REQUIRED TO BE
PRESENTED SHALL BE IN ENGLISH.
6. ACCEPTANCE OF ANY DISCREPANCIES INANY DOCUMENTS PRESENTED
SHALL NOT IMPLY OR CONSTITUTE ANYAMENDMENT OF THE TERMS OF THIS
LETTER OF CREDIT NOR OBLIGE US TOACCEPT THE SAME FOR ANY
FUTURE DRAWINGS.
7. PLEASE BE INFORMED THAT SATURDAY ISTO BE CONSIDERED A
NON-BANKING BUSINESS DAY FOR OUR TRADEFINANCE PROCESSING/
OPERATIONS UNIT ALTHOUGH OUR BANK MAYOTHERWISE BE OPEN FOR
BUSINESS.
8. ONE EXTRA PHOTOCOPY OF SHIPPINGDOCUMENTS ARE REQUIRED FOR
ISSUING BANK'S FILE AND WILL NOT BERETURNED EVEN DOCUMENTS ARE
FINALLY REFUSED. IF THESE DOCUMENTS ARENOT PRESENTED, A
PHOTOCOPY HANDLING FEE OF USD10.00 (OREQUIVALENT) PER SET WILL
BE DEDUCTED FROM THE PROCEEDS.
9. ALL PARTIES TO THIS DOCUMENTARYCREDIT ARE ADVISED THAT THERE
ARE SPECIFIC SANCTIONS AND REGULATIONSIMPOSED BY THE U.S. AND
OTHER GOVERNMENT AND/OR REGULATORYAUTHORITIES AGAINST CERTAIN
COUNTRIES, ENTITIES AND INDIVIDUALS.UNDER THESE MEASURES,BANK GUARANTEE VS LETTER OF CREDIT.
THE BANK MAY BE UNABLE TO PROCESS ORENGAGE IN TRANSACTIONS
THAT INVOLVES A BREACH OF SUCHSANCTIONS, AND AUTHORITIES MAY
REQUIRE DISCLOSURE OF INFORMATION. THEBANK IS NOT LIABLE FOR
REJECTING ANY PRESENTATION OF DOCUMENTSTHAT MAY CAUSE A
BREACH OF THOSE SANCTIONS, OR DISCLOSESINFORMATION AS A
RESULT OF ACTUAL OR APPARENT BREACH OFSUCH SANCTIONS. THIS
CLAUSE APPLIES NOTWITHSTANDING ANYINCONSISTENCY WITH THE
CURRENT EDITION OF THE INTERNATIONALCHAMBER OF COMMERCE
UNIFORM CUSTOMS AND PRACTICE FORDOCUMENTARY CREDITS.
10. THE AMOUNT OF ALL UTILIZATIONSUNDER THIS CREDIT MUST BE
ENDORSED ON THE BACK OF THE ORIGINALCREDIT BY THE PRESENTING /
PAYING / ACCEPTING / NEGOTIATING BANKAND THE PRESENTING /
PAYING / ACCEPTING / NEGOTIATING BANKMUST CERTIFY TO THIS
EFFECT IN THEIR COVERING LETTER.
11. BENEFICIARY'S CONTACT PERSON : ABCXXXX
12. SECOND ADVISING BANK'S FULLADDRESS:
XXXXX
:49:WITHOUT
:78:1. ALL DOCUMENTS MUST BE SENT BYCOURIER SERVICE IN 1 LOT TO OUR
ADDRESS AT 31 TAMPINES AVENUE 4, 2NDFLOOR SINGAPORE 529680
AND MARKED TO THE ATTENTION OF IMPORTBILLS, TRADE FINANCE
OPERATIONS.
2. WE SHALL REMIT BY TT TO YOU UPON OURRECEIPT OF DOCUMENTS AND
CONFIRMATION THAT THE TERMS OF THECREDIT HAVE BEEN COMPLIED
WITH.
:57D:BANKXXXX
(FULL ADDRESS REFER FIELD 47A)
-}{5:{MAC:00000000}{CHK:CDAD46B1BE11}}{S:{SAC:}{COP:S}}
+WE ARE ENCLOSING HEREWITH ORIGINAL LETTER OF CREDIT.KINDLY PRESENT
THIS CREDIT WITH THE DOCUMENTSWHEN SUBMITTING FOR NEGOTIATION.
+THIS LC IS ONLY ADVICE TO OUR CORRESPONDENT'S LETTER OF CREDIT AND
CONVEYS NO ENGAGEMENT OR RESPONSIBILITY ON OUR PART TO NEGOTIATE
THE DOCUMENTS.
+WHILE SUBMITTING THE DOCUMENTS, PLEASE PRESENT ONE COPY/PHOTOCOPYOF
EACH DOCUMENTS FOR OUR FILE. IN CASE COPIES ARE NOT ATTACHED WEWILL
BE CHARGING THE AMOUNT OF USD 10.00 OR EQUIVALENT THEREOFF.
+PLEASE EXAMINE THIS INSTRUMENT CAREFULLY. IF YOU ARE UNABLE TO COMPLY
WITH THE TERMS OR CONDITIONS, PLEASE COMMUNICATE WITH YOUR BUYER TO
ARRANGE FOR AN AMENDMENT. THIS PROCEDURE WILL FACILITATE PROMPT
HANDLING WHEN DOCUMENTS AREPRESENTED.
+ALL PARTIES TO THIS DOCUMENTARY CREDIT ARE ADVISED THAT SPECIFIC
SANCTIONS/EMBARGOS ARE IMPOSED BY REGULATORY AUTHORITIES / AGENCIES
(INCLUDING THE USA, UK, EU, UN) AGAINST CERTAIN COUNTRIES,ENTITIES,
INDIVIDUALS, VESSELS,GOODS UNDER THESE MEASURES, BANK MAY NOT BEABLE
TO ENGAGE IN THE TRANSACTION (ACCEPT OR NEGOTIATE ANY DOCUMENTS ORSETTLE
ANY TRANSACTIONS) THAT IN ITS OPINION WOULD BREACH APPLICABLESANCTIONS BANK GUARANTEE VS LETTER OF CREDIT.
+THIS ADVICE IS SUBJECT TO THE UNIFORM CUSTOMS AND PRACTICES FORDOCUMENTARY
CREDITS(2007 REVISION) INTERNATIONAL CHAMBER OF COMMERCE PUBLICATION NO600.
(THIS IS COMPUTER GENERATED ADVICE. NOSIGNATURE REQUIRED)
SpecimenFormat- BANK GUARANTEE
ABC COMPANYX
XXXX
Date [ ]
Dear Sirs,
Tender BondNo. [ ] (the “Bond”)
WHEREAS our clients, [ ] (“the Bidder”) aretendering for [description of project] and as further described in the RFPdocuments.
And whereas theRFP documents provide that the Form of Tender shall be accompanied by a TenderBond.
Inconsideration of the above, we [name of bank], hereby irrevocably andunconditionally undertake that, forthwith upon our receiving written noticefrom you stating that in your sole and absolute judgment the Bidder has failedto observe or perform any of the terms or conditions of the Form of Tender andthe RFP documents (or, if its Tender has been accepted and the Form ofa*greement referred to therein has been signed, of the Agreement on its part tobe observed or performed) we will, notwithstanding any objection which may bemade by the Bidder, pay to you an amount as you may in such notice require notexceeding (when aggregated with any such amount(s) previously so paid) theamount of this Bond, namely COUNTRY - CURRENCY <insert amount>
This Bond shallbe valid from the date hereof and shall continue to be so valid with respect toany such written notice to us as is received by us not later than [insert] or,if it be earlier and the Bidder’s Tender has been accepted, the date ofdelivery to you of the Performance Bond (as defined in the Conditions ofContract). This Bond shall not be valid with respect to any written noticereceived by us after such date (or earlier date) and shall thereafter be nulland void. When the validity of this Bond has expired it must be returned to usfor cancellation but we shall be released from any obligation hereunder even ifsuch return has not taken place.
Any payment byus hereunder shall be in immediately available and freely transferable CURRENCYfree and clear of and without any deduction for or on account of any present orfuture taxes, levies, imposts, duties, charges, fees, deductions or withholdingof any nature whatsoever and by whomsoever imposed.
Our obligations hereunder are ofa continuing nature, constitute direct primary irrevocable and unconditionalobligations, shall not require any previous notice to or claim against theBidder or any other person, and shall not be discharged or otherwise prejudicedor adversely affected by any time, indulgence or forbearance which you maygrant to the Bidder, any Bank Guarantee vs Letter of credit unenforceability or invalidity of, or any amendment,modification or extension which may be made to, the Form of Tender or the RFPdocuments or the Agreement or the work to be performed thereunder, anyintermediate payment or other satisfaction made by us, any change in theconstitution or organization of the Bidder, or any other matter or thing whichin the absence of this provision would or might have that effect except adischarge or amendment hereof expressly made or agreed to by you in writing.
ThisBond shall be governed and construed in accordance with the laws of the Emirateof Abu Dhabi and the federal laws of the COUNTRY to the extent applicable inthe country
Yoursfaithfully,
(Authorized Signatory of the Bank)
