SWIFT MT760 STANDBY LETTER OF CREDIT VERBIAGE

STANDBY LETTER OF CREDIT NO.:

AMOUNT : €500,000,000.00
ISSUING BANK :
PLACE OF ISSUE :
DATE OF ISSUE :
DATE OF MATURITY :
DATE OF EXPIRY :
CURRENCY : EURO
APPLICANT :
BENEFICIARY :
TRANSACTION REFERENCE :
CONTRACT TRANSACTION CODE:

WE, ,…………[Issuing bank name]……….., LOCATED IN ………………………………………….., HEREBY OPEN OUR

UNCONDITIONAL, IRREVOCABLE, TRANSFERABLE, DIVISIBLE AND CONFIRMED STANDBY LETTER OF CREDIT
NUMBER …………………………… IN FAVOUR OF _____________ FOR THE AMOUNT OF FIVE HUNDRED MILLION
EURO (€500,000,000.00) DUE ONE YEAR AND ONE MONTH FROM THE DATE OF ISSUE [_____], MATURITY
DATE [_____].

WE CONFIRM WITH FULL BANKING RESPONSIBILITY THAT THE FUNDS THAT ARE BACKING THIS STANDBY LETTER OF
CREDIT ARE AND WILL BE FREE AND UNENCUMBERED READY FOR WITHDRAWAL AS CASH AT ANY TIME AS THIS
STANDBY LETTER OF CREDIT IS PRESENTED AND CALLED UPON SUCH PAYMENT WILL BE UPON PRESENTATION AND
SURRENDER OF THIS STANDBY LETTER OF CREDIT AT THE OFFICE OF __________BANK, WITHOUT SETOFF AND FREE AND
CLEAR OF ANY DEDUCTIONS, CHARGES, FEE OR WITHHOLDING OF ANY NATURE NOW OR HEREAFTER IMPOSED, LEVIED,
COLLECTED, WITHHELD OR ASSESSED BY THE GOVERNMENT OF THE ISSUING OR PAYING BANK OR ANY POLITICAL
SUBDIVISION OR AUTHORITY THEREOF OR THEREIN.

WE HEREBY ENGAGE WITH YOU THAT THE DRAFT DRAWN UNDER AND IN COMPLIANCE WITH THE TERMS OF
THIS STANDBY LETTER OF CREDIT SHALL BE DULY HONOURED ON DUE PRESENTATION TO US AT THE
MATURITY DATE AND FOR FIFTEEN DAYS THEREAFTER, AFTER WHICH OUR LIABILITIES HEREUNDER WILL
CEASE AND THIS STANDBY LETTER OF CREDIT WILL BE OF NO FURTHER EFFECT.

SUCH PAYMENT SHALL BE MADE WITHOUT SET-OFF AND FREE AND CLEAR OF ANY DEDUCTIONS, CHARGES,
FEES, OR WITHHOLDINGS OF ANY NATURE PRESENTLY OR IN THE FUTURE, IMPOSED, LEVIED, COLLECTED,
WITHHELD OR ASSESSED BY THE GOVERNMENT OF _____________ OR ANY POLITICAL SUBDIVISION OR
AUTHORITY THEREOF.

THIS STANDBY LETTER OF CREDIT SHALL BE GOVERNED AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF
THE ……………………, PLACE OF JURISDICTION IS ………………....

THIS STANDBY LETTER OF CREDIT IS SUBJECT TO THE UNIFORM RULES FOR DEMAND GUARANTEE (URDG) FORMAT 758,
UNDER THE INTERNATIONAL CHAMBER OF COMMERCE, PARIS, FRANCE, PUBLICATION NO. 600.

THIS IS AN OPERATIVE INSTRUMENT. ALL CHARGES ARE FOR THE ACCOUNT OF THE APPLICANT .

FOR AND ON BEHALF OF ISSUING BANK

ISSUING BANK ADDRESS

BANK OFFICER 1 BANK OFFICER 2

TITLE (PIN) TITLE (PIN)