VERBIAGE OF MT 760 SBLC
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FOR VALUE RECEIVEBD WE THE UNDERSIGNED, ……. BANK ……….., HEREBY IRREVOCABLY, UNCONDITIONALLY AND WITHOUT PROTEST OR NOTIFICATION ON FIRST DEMAND, PROMISE TO PAY AT MATURITY TO THE ORDER OF THERE OF, THE SUM OF $………..(………….MILLION UNITED STATES DOLLARS) IN THE LAWFUL CURRENCY OF THE UNITED STATES OF AMERICA UPON PRESENTATION AND SURRENDER OF THIS STANDBY LETTER OF CREDIT AT THE OFFICE OF ………….
SUCH PAYMENT SHALL BE MADE WITHOUT SET OFF AND SHALL BE UNENCUMBERED FREE AND CLEAR OF ANY DEDUCTIONS, CHARGES, FEES OR WITH HOLDING OR ANY NATURE NOW OR HEREAFTER IMPOSED, LEVIED, COLLECTED, WITHHELD OR ASSESSED BY THE GOVERNMENT OR ANY POLITICAL SUBDIVISION OR AUTHORITY THEREOF OR THEREIN.
THIS STANDBY LETTER OF CREDIT IS FULLY CASH BACKED WITH FUNDS ON DEPOSIT THAT ARE GOOD, CLEAN, CLEARED OF NON-CRIMINAL ORIGIN, FREE OF ANY LIENS OR ENCUMBRANCES LEGALLY EARNED BY THE APPLICANT. THIS STANDBY LETTER OF CREDIT IS UNCONDITIONAL, TRANSFERABLE, ASSIGNABLE, DIVISIBLE, DISCOUNTABLE AND CONFIRMED WITHOUT PRESENTATION OF IT TO US AND SHALL BE GOVERNED AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE UNITED KINGDOM.
THIS STANDBY LETTER OF CREDIT IS SUBJECT TO THE UNIFORM CUSTOMS AND PRACTICES FOR STANDBY LETTER OF CREDIT AS SET FORTH BY THE INTERNATIONAL CHAMBER OF COMMERCE – PARIS – FRANCE, LATEST REVISION OF PUBLICATION 758. THIS IS AN OPERATIVE INSTRUMENT, NO MAIL CONFIRMATION WILL FOLLOW.
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