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    Bank Guarantee Format Icc 458

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    Priors Mortgages & Finance Ltd
    This document contains two templates: a bank guarantee format and a standby letter of credit format. The bank guarantee format outlines the details of a bank guarantee from one party to another, including the applicant, beneficiary, amount, terms of payment, and that it is transferable and subject to ICC Publication No. 458. The standby letter of credit format provides the details of an irrevocable, transferable, and confirmed standby letter of credit from an issuing bank to a beneficiary for $X million, payable in one year and one day from issue upon the beneficiary's written demand. It states that drafts will be honored if in compliance with the letter of credit and is subject to UCP 500

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    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd

    Bank Guarantee Format Icc 458

    Uploaded by

    Priors Mortgages & Finance Ltd
    532 views3 pages
    This document contains two templates: a bank guarantee format and a standby letter of credit format. The bank guarantee format outlines the details of a bank guarantee from one party to another, including the applicant, beneficiary, amount, terms of payment, and that it is transferable and subject to ICC Publication No. 458. The standby letter of credit format provides the details of an irrevocable, transferable, and confirmed standby letter of credit from an issuing bank to a beneficiary for $X million, payable in one year and one day from issue upon the beneficiary's written demand. It states that drafts will be honored if in compliance with the letter of credit and is subject to UCP 500

    Original Description:

    Bank guarantee form

    Original Title

    BANK GUARANTEE FORMAT ICC 458

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    This document contains two templates: a bank guarantee format and a standby letter of credit format. The bank guarantee format outlines the details of a bank guarantee from one party to another, including the applicant, beneficiary, amount, terms of payment, and that it is transferable and subject to ICC Publication No. 458. The standby letter of credit format provides the details of an irrevocable, transferable, and confirmed standby letter of credit from an issuing bank to a beneficiary for $X million, payable in one year and one day from issue upon the beneficiary's written demand. It states that drafts will be honored if in compliance with the letter of credit and is subject to UCP 500

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    532 views3 pages

    Bank Guarantee Format Icc 458

    Uploaded by

    Priors Mortgages & Finance Ltd
    This document contains two templates: a bank guarantee format and a standby letter of credit format. The bank guarantee format outlines the details of a bank guarantee from one party to another, including the applicant, beneficiary, amount, terms of payment, and that it is transferable and subject to ICC Publication No. 458. The standby letter of credit format provides the details of an irrevocable, transferable, and confirmed standby letter of credit from an issuing bank to a beneficiary for $X million, payable in one year and one day from issue upon the beneficiary's written demand. It states that drafts will be honored if in compliance with the letter of credit and is subject to UCP 500

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    of 3

    BANK GUARANTEE FORMAT ICC 458

     From: ……………………….
    To:  ……………………….
    Bank Guarantee No: ……………………….
    Currency Code:    United States Dollars
    Date of Issue: ……………………….
    Date/Place of Expiry: ……………………….
    Applicant: ……………………….
    Beneficiary:  ……………………….
    Amount:  USD…..0,000,000.00 (United States Dollars ……….…
                                         ………………………………….. Million Only).
     
    We herewith open our Bank Guarantee No:………….. as follows:
     
    For value received by us, we…. (Issuing Bank)… hereby irrevocably
    and unconditionally without protest or notification promise to pay
    against this Bank Guarantee No: ……… in favour of……… (Name of
    Beneficiary, and address)……. on maturity date the sum of US$ …...
    00,000,000.00 (United States Dollars …. …………………. Million
    Only) in the lawful currency of the United States of America upon
    presentation to us of the original of this Bank Guarantee at our
    counters on maturity date, but not later than fifteen days after the
    maturity date.
     
    Such payment shall be made without set-off and clear of any
    deductions, charges, fees or withholdings of any nature, now or
    hereinafter imposed, levied, collected, withheld or assessed by the
    Government of the Issuing Bank or any political subdivision or
    authority thereof or therein.
     
    This Guarantee is transferable and assignable without presentation to
    us or payment of any transfer or assignable fee.
     
    This Bank Guarantee is subject to the Uniform Rules for Bank
    Guarantee under ICC Publication No: 458.   
     
    This is an operative instrument and no mail confirmation will follow.
    STANDBY L/C FORMAT – 3034 ( LONDON SHORT
    FORM )
        
    ISSUING BANK:
    DATE OF ISSUE:       
    DATE OF MATUIRTY:
    DATE OF EXPIRY:
    AMOUNT:  USD ……00,000,000.00
     
    TO:
    ATTENTION:
    ACCOUNT No:
    BENEFICIARY:
     
    DATE:
    REFERENCE No:
    TEST:
     
    We, the undersigned, hereby open our Unconditional, Irrevocable,
    Transferable and Confirmed Standby Letter of Credit in favour of
    ………….(BENEFICIARY)…..…… for the amount of  United  States
    Dollars ………………………………..…….Million only. (US $
    …..00,000,000.00), Due in One Year and One Day from the Date of
    Issue.
     
    Payment is available on Beneficiary’s first written demand (VIA
    TESTED TELEX/ SWIFT). Demand hereunder must be marked
    drawn under Letter of Credit Number: ………Dated: ……………….
     
    We engage with you that the Draft drawn under and in compliance
    with the terms of this Standby Letter of Credit shall be duly honored
    on due presentation to us.

    This Standby Letter of Credit is subject to Uniform Customs and


    Practices for Documentary Credits (1993 Revision) International
    Chamber of Commerce, Publication No. 500.
    This is an Operative Instrument and no mail confirmation to follow.

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