st

Office 2, 1 Fl, La Place

Creole Building, POB 838
Rodney Bay, Gros-Islet
Saint Lucia

MT760 – ISSUE OF A STANDBY LETTER OF CREDIT

.
WE HEREBY ISSUE OUR STANDBY LETTER OF CREDIT AS PER THE FOLLOWING SPECIFICATIONS:

XXX
20 CREDIT NUMBER

XXX
30 DATE OF ISSUE

OTHR/ISPR
40C APPLICABLE RULES

XXX
31E DATE OF EXPIRY

50 APPLICANT XXX
ADDRESS

EURO EXIM BANK LTD

OFFICE 2, 1ST FLOOR, LA PLACE CREOLE
52D ISSUING BANK BUILDING, POB 838, RODNEY BAY
GROS-ISLET, SAINT LUCIA (EULULCL1)

XXX
59 BENEFICIARY ADDRESS
ACCOUNT NO. XXX

56A BANK OF XXX

BENEFICIARY ADDRESS
SWIFT CODE:

32B CURRENCY CODE XXX###,##

AND AMOUNT

ALL BANK CHARGES OUTSIDE ISSUER

71D CHARGES COUNTRY ARE ON BENEFICIARY'S

ACCOUNT

Euro Exim Bank Ltd - Office 2, 1st Fl, La Place Creole Building, POB 838, Rodney Bay, Gros-Islet, Saint Lucia
 st
Office 2, 1 Fl, La Place
Creole Building, POB 838
Rodney Bay, Gros-Islet
Saint Lucia

PLACE OF PRESENTATION: AT OUR COUNTERS

45C DOCUMENT AND
PRESENTATION FORM OF PRESENTATION: PAPER/BY COURIER SERVICE
INSTRUCTIONS LANGUAGE OF ANY REQUIRED DOCUMENTS: ENGLISH

77U UNDERTAKING AT THE REQUEST OF OUR CUSTOMER APPLICANTXXX ('APPLICANT'), THIS

TERMS AND STANDBY LETTER OF CREDIT IS IN FAVOR OF BENEFICIARYXXX
CONDITIONS ('BENEFICIARY'), AS PER THE UNDERLYING RELATIONSHIP. THE AMOUNT OF
THIS IRREVOCABLE STANDBY LETTER OF CREDIT IS XXX###,## (XXX ONLY).
.
WE SHALL MAKE PAYMENT TO YOU WITHIN THIRTY (30) BANKING DAYS,
UNDER THIS STANDBY LETTER OF CREDIT IN DUE ACCORDANCE WITH THE
BANK'S GENERAL TERMS AND CONDITIONS APPLICABLE TO ISSUANCE OF
THIS STANDBY LETTER OF CREDIT, ON YOUR FIRST WRITTEN DEMAND FOR
PAYMENT WHEN THAT DEMAND IS PRESENTED TO US AT OUR COUNTERS AS
PER OUR FILES AND DURING BUSINESS HOURS ON A DAY ON WHICH BANKS
ARE OPEN FOR BUSINESS IN SAINT LUCIA ACCOMPANIED BY THE FOLLOWING
DOCUMENTS IN THE MANNER BELOW:
OUR PRIOR WRITTEN CONFIRMATION OF ACCEPTANCE OF YOUR DEMAND MADE
VIA AN AUTHENTICATED SWIFT MT799 AND THE BENEFICIARY'S
AUTHENTICATED AND SIGNATURE VERIFIED CERTIFICATE THAT THE
APPLICANT HAS FAILED TO HONOR IN WHOLE ITS OBLIGATIONS TO THE
BENEFICIARY WITH RESPECT TO THE UNDERLYING RELATIONSHIP BY
SPECIFYING SUCH FAILURE AND THAT THE AMOUNT OF BENEFICIARY'S
DEMAND UNDER THIS STANDBY LETTER OF CREDIT IS NOT GREATER THAN
THE CREDIT AMOUNT DUE AND PAYABLE TO THE BENEFICIARY BY THE
APPLICANT PURSUANT TO THOSE OBLIGATIONS.
.
ANY DEMAND (INCLUDING THE REQUISITE NOTIFICATION BY YOU AND PRIOR
CONFIRMATION OF ACCEPTANCE BY US) UNDER THIS STANDBY LETTER OF
CREDIT MUST BE MADE IN WRITING AND PRESENTED, BY YOU TO US,
DURING THE PRESENTATION PERIOD (AS DEFINED BELOW), AT THE PLACE
FOR PRESENTATION, INDICATED ABOVE OR AT SUCH ADDRESS AS NOTIFIED
BY US IN WRITING.
.
ON EXPIRY DATE, THIS STANDBY LETTER OF CREDIT SHALL BECOME NULL
AND VOID, WHETHER RETURNED TO US FOR CANCELLATION OR NOT, AND ANY
DEMAND RECEIVED EARLIER THAN THREE (3) DAYS BEFORE EXPIRY OR
AFTER EXPIRY DATE (HEREINAFTER THE 'PRESENTATION PERIOD') SHALL
BE INEFFECTIVE AND THE BANK SHALL ACCORDINGLY BE DISCHARGED FROM
ITS LIABILITIES HEREUNDER. ANY DISCREPANT CLAIM FOR PAYMENT UNDER
THIS STANDBY LETTER OF CREDIT IS PROHIBITED AND WILL LEAD TO AN
IMMEDIATE TERMINATION OF THIS STANDBY LETTER OF CREDIT.
.

Euro Exim Bank Ltd - Office 2, 1st Fl, La Place Creole Building, POB 838, Rodney Bay, Gros-Islet, Saint Lucia
 st
Office 2, 1 Fl, La Place
Creole Building, POB 838
Rodney Bay, Gros-Islet
Saint Lucia

A DEMAND UNDER THIS STANDBY LETTER OF CREDIT MAY ONLY BE

PRESENTED AS FROM THE RECEIPT FROM THE APPLICANT OF THE PAYMENT
REFERRED TO ABOVE ON ITS BANK ACCOUNT AS EVIDENCED BY A WRITTEN
STATEMENT ISSUED BY THE APPLICANT, PROVIDED SUCH STATEMENT
IDENTIFIES THIS STANDBY LETTER OF CREDIT. NO DEMAND FOR PAYMENT
BY THE BENEFICIARY MAY BE PRESENTED TO THE BANK UNDER THIS
STANDBY LETTER OF CREDIT UNTIL AFTER THE BENEFICIARY HAS
EXHAUSTED ALL AVAILABLE REMEDIES AVAILABLE IN THE CONTRACT
AGAINST THE CONTRACTOR FOR ITS NON-PERFORMANCE UNDER THE
CONTRACT.
.
ANY ASSIGNMENT OF RIGHTS OUT OF THIS STANDBY LETTER OF CREDIT IS
SUBJECT TO THE PRIOR WRITTEN CONSENT OF THE ISSUER. THE
BENEFICIARY MAY MAKE ONLY ONE DEMAND UNDER THIS STANDBY LETTER OF
CREDIT AND SUCH DEMAND SHALL BE LESS THAN OR EQUAL TO THE VALUE
OF THIS STANDBY LETTER OF CREDIT.
.
NOTWITHSTANDING ANYTHING CONTAINED IN THE ISSUING TERMS OF THIS
STANDBY LETTER OF CREDIT, OUR LIABILITY UNDER THIS STANDBY LETTER
OF CREDIT IS LIMITED TO XXX###,## (XXX ONLY) AND IT SHALL REMAIN IN FORCE
UP TO AND INCLUDING YYMMDD UNLESS DISCHARGED EARLIER AND THE
DEMAND MADE BY THE BENEFICIARY SHOULD COMPLY IN FORMAT, MANNER,
TERMS AND CONDITIONS WITH THOSE PRESCRIBED AND CONTAINED IN THE
BANK'S POLICIES.
.
THIS STANDBY LETTER OF CREDIT IS SUBJECT TO THE INTERNATIONAL
STANDBY PRACTICES 1998, INTERNATIONAL CHAMBER OF COMMERCE
PUBLICATIONS NO/590('ISP98') ISP98 AS MODIFIED BY OUR GENERAL
TERMS AND OTHER CONDITIONS INCLUDING CREDIT NORMS OF THE ISSUING
INSTITUTION. IN THE EVENT OF ANY CONFLICT, CONTRADICTION OR
INCONSISTENCY BETWEEN THE ISSUING STANDARD TERMS OF THIS SBLC AND
THE TERMS OF ISP98/ISBP681 (AS APPLICABLE), THE ISSUING TERMS OF
THIS SBLC SHALL PREVAIL. ARTICLE 5.01(A) OF ISP98 SHALL NOT BE
APPLICABLE AND ANY DISPUTES OR CLAIM ARISING IN CONNECTION WITH
THIS DOCUMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE COURTS AND JURISDICTION OF THE ISSUANCE COUNTRY.
.
THIS IS AN OPERATIVE INSTRUMENT AND NO CONFIRMATION SHALL FOLLOW.

49 CONFIRMATION WITHOUT OR MAY ADD

INSTRUCTIONS
58A REQUESTED XXX
CONFIRMATION PARTY
44H PLACE OF SAINT LUCIA
JURISDICTION

Euro Exim Bank Ltd - Office 2, 1st Fl, La Place Creole Building, POB 838, Rodney Bay, Gros-Islet, Saint Lucia
 st
Office 2, 1 Fl, La Place
Creole Building, POB 838
Rodney Bay, Gros-Islet
Saint Lucia

48B DEMAND
NMPT
INDICATOR

48D TRANSFER
TRAN
INDICATOR

UNDERLYING RELATIONSHIP DOCUMENT: CONTRACT NO. XXX DATED XXX

45L UNDERLYING .
TRANSACTION DETAILS PURPOSE: PROJECTDESCRIPTION

Euro Exim Bank Ltd - Office 2, 1st Fl, La Place Creole Building, POB 838, Rodney Bay, Gros-Islet, Saint Lucia