The SBLC Lease Agreement is utilized when a party requires a bank guarantee instrument but prefers to lease rather than directly obtain one, often due to cost efficiency or collateral requirements. This document type is particularly relevant in the Philippine context where international trade and project financing frequently require bank guarantees. The agreement comprehensively covers the leasing arrangement of a Standby Letter of Credit, including payment terms, security requirements, and compliance with Philippine banking regulations. It addresses the specific requirements of the Bangko Sentral ng Pilipinas (BSP) and incorporates necessary provisions for anti-money laundering compliance. The document is structured to protect all parties' interests while ensuring adherence to both local and international banking practices.
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1. Parties: Identifies and provides full details of all parties involved in the SBLC lease agreement
2. Background: Sets out the context and purpose of the SBLC lease arrangement
3. Definitions: Defines key terms used throughout the agreement
4. SBLC Terms and Conditions: Specifies the essential terms of the SBLC including amount, validity period, and purpose
5. Lease Payment Terms: Details the lease fees, payment schedule, and payment methods
6. Bank Obligations: Outlines the obligations of the issuing bank and any corresponding banks
7. Client Obligations: Specifies the responsibilities and obligations of the client leasing the SBLC
8. Provider Obligations: Details the obligations of the SBLC provider
9. Security and Collateral: Specifies any security or collateral requirements for the SBLC lease
10. Representations and Warranties: Contains statements of fact and promises made by each party
11. Default and Remedies: Defines events of default and available remedies
12. Term and Termination: Specifies the duration of the agreement and termination conditions
13. Governing Law and Jurisdiction: Establishes Philippine law as governing law and specifies jurisdiction for disputes
14. Notices: Specifies how and where official communications between parties should be made
15. Execution: Contains signature blocks and execution formalities
1. Swift Message Terms: Include when the SBLC will be transmitted via SWIFT, specifying MT760 format requirements
2. Correspondent Bank Provisions: Include when corresponding banks are involved in the SBLC transaction
3. Insurance Requirements: Include when specific insurance coverage is required for the SBLC
4. Assignment and Transfer: Include when the agreement allows for assignment or transfer of rights
5. Monetization Rights: Include when the SBLC may be used for monetization purposes
6. Foreign Exchange Provisions: Include when the SBLC involves multiple currencies
7. Anti-Money Laundering Compliance: Include detailed AML provisions when dealing with high-risk transactions or jurisdictions
1. Schedule A - SBLC Format: Template or exact format of the SBLC to be issued
2. Schedule B - Fee Structure: Detailed breakdown of all fees, charges, and payment schedules
3. Schedule C - Required Documents: List of all documents required for SBLC issuance and maintenance
4. Schedule D - Security Documents: Details of collateral or security arrangements
5. Schedule E - Compliance Requirements: Specific regulatory and compliance requirements
6. Appendix 1 - Bank Details: Banking coordinates and communication details
7. Appendix 2 - Due Diligence Requirements: List of required due diligence documents and procedures
8. Appendix 3 - Transaction Timeline: Expected timeline for SBLC issuance and key milestones
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
International Trade
Construction and Infrastructure
Real Estate Development
Energy and Utilities
Manufacturing
Import/Export
Project Finance
Commercial Development
Shipping and Logistics
Relevant Teams
Legal
Finance
Treasury
Compliance
Risk Management
International Trade
Project Finance
Corporate Banking
Business Development
Operations
Relevant Roles
Chief Financial Officer
Treasury Manager
Trade Finance Manager
Financial Controller
Legal Counsel
Compliance Officer
Risk Manager
Project Finance Director
International Trade Director
Banking Relations Manager
Corporate Finance Manager
Senior Finance Executive
Business Development Director
Contract Administrator
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