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Bond Letter Of Credit
1. Letter Reference and Date: Unique reference number and date of issuance of the Letter of Credit
2. Issuing Bank Details: Complete name, address, and contact information of the issuing bank
3. Beneficiary Information: Full name and address of the party in whose favor the Letter of Credit is issued
4. Applicant Information: Full name and address of the party requesting the Letter of Credit
5. Bond Reference: Details of the underlying bond instrument including bond type, reference number, and principal amount
6. Credit Amount and Currency: Specification of the maximum drawable amount and currency
7. Validity Period: Explicit statement of the issuance date and expiry date of the Letter of Credit
8. Drawing Terms: Specific conditions and documentation required for drawing under the Letter of Credit
9. Payment Terms: Timeline and method of payment upon presentation of compliant documents
10. Governing Law Declaration: Statement confirming Danish law as governing law
11. UCP 600 Declaration: Statement of incorporation of UCP 600 rules
1. Transferability Clause: Include when the Letter of Credit needs to be transferable to another beneficiary
2. Revolving Terms: Include for Letters of Credit that automatically reinstate after each drawing
3. Confirmation Instructions: Include when confirmation by another bank is required
4. Special Conditions: Include when there are additional requirements specific to the underlying bond or transaction
5. Partial Drawings: Include when specifying whether partial drawings are allowed or prohibited
6. Assignment of Proceeds: Include when the proceeds can be assigned to another party
1. Form of Demand: Template for making a compliant drawing request under the Letter of Credit
2. Required Documents Checklist: Detailed list of all documents required for drawing under the Letter of Credit
3. Bond Terms Reference: Summary or extract of relevant bond terms referenced in the Letter of Credit
4. Specimen Signatures: Authorized signatures for the issuing bank and any confirmation bank
5. Fee Schedule: Breakdown of all applicable fees and charges
6. Communication Procedures: Detailed procedures for all communications related to the Letter of Credit
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