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The SBLC Buyers agreement is a critical document used in Indonesian banking and international trade transactions where a party requires a Standby Letter of Credit as a financial guarantee. This agreement is essential when companies or individuals need to provide financial assurance to their business partners, particularly in cross-border transactions. The document is structured to comply with Indonesian banking regulations, including Bank Indonesia guidelines and OJK requirements, while also adhering to international banking standards. It details the complete relationship between the SBLC buyer and the issuing bank, including application procedures, fee structures, security requirements, and compliance obligations. The agreement becomes particularly important in contexts where significant financial guarantees are needed, such as large-scale projects, international trade transactions, or performance guarantees.

1. Parties: Identification of all parties involved including the Buyer, the Issuing Bank, and any intermediary banks

2. Background: Context of the SBLC transaction, including the underlying commercial relationship and purpose

3. Definitions: Detailed definitions of terms used throughout the agreement, including banking and SBLC-specific terminology

4. SBLC Details: Specific details of the SBLC including amount, currency, expiry date, and purpose

5. Conditions Precedent: Prerequisites that must be fulfilled before the SBLC can be issued

6. Fees and Charges: Breakdown of all fees, charges, and commissions payable by the Buyer

7. Payment Terms: Terms and conditions for payment of fees and reimbursement obligations

8. Representations and Warranties: Standard declarations made by the Buyer regarding their legal capacity and authority

9. Buyer's Obligations: Detailed responsibilities and commitments of the Buyer

10. Events of Default: Circumstances that constitute default and their consequences

11. Indemnification: Buyer's obligations to indemnify the bank against losses or claims

12. Governing Law and Jurisdiction: Specification of Indonesian law as governing law and jurisdiction details

13. Notices: Process and requirements for formal communications between parties

14. Miscellaneous: Standard boilerplate provisions including severability, entire agreement, and amendments