The Revolving Standby Letter of Credit is a critical financial instrument in UAE's international trade landscape, providing security and payment assurance in complex commercial transactions. This document type is particularly valuable when parties require ongoing, renewable payment guarantees rather than one-time commitments. It automatically reinstates to its original amount after each drawing, making it ideal for recurring transactions or long-term business relationships. The document must comply with UAE federal laws, Central Bank regulations, and international banking standards, while potentially incorporating Sharia compliance elements. It's commonly used in trade finance, project development, and various commercial arrangements where continuous financial security is required. The document specifies drawing conditions, reinstatement terms, validity periods, and compliance requirements, providing a robust framework for managing recurring financial obligations.
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1. Letter Reference Number and Date: Unique identification number and issuance date of the SBLC
2. Issuing Bank Details: Complete name, address, and SWIFT code of the issuing bank
3. Beneficiary Details: Full name and address of the beneficiary
4. Applicant Details: Full name and address of the applicant requesting the SBLC
5. Credit Amount and Currency: Maximum amount available and currency of the SBLC, including reinstatement provisions
6. Availability and Expiry: Validity period, expiry date, and auto-renewal terms if applicable
7. Drawing Terms and Conditions: Specific conditions under which the beneficiary can draw on the SBLC
8. Required Documents: List of documents required for presentation when making a drawing
9. Presentation Location: Where and how documents should be presented
10. Governing Law and Jurisdiction: Specification of UAE law and relevant jurisdiction
11. Applicable Rules: Reference to applicable rules (typically ISP98 or UCP 600)
1. Confirmation Instructions: Include when confirmation by another bank is required
2. Transfer Conditions: Include when the SBLC needs to be transferable
3. Multiple Draw Provisions: Detailed terms for multiple drawings when specific drawing schedule is required
4. Special Payment Conditions: Include when there are specific payment timing or method requirements
5. Sharia Compliance Statement: Include when the SBLC needs to be Sharia-compliant
6. Language Preference: Include when dual language requirements exist
7. Electronic Presentation Terms: Include when electronic presentation of documents is permitted
1. Form of Demand: Standard format for making a drawing under the SBLC
2. Form of Transfer Request: Standard format for requesting transfer of the SBLC if transferable
3. Schedule of Fees: Detailed breakdown of all applicable fees and charges
4. Required Document Formats: Templates for any specific documents required for presentation
5. Authorized Signatories: List of authorized signatories and specimen signatures
6. Communication Procedures: Detailed procedures for communications between parties
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
International Trade
Import/Export
Manufacturing
Construction
Energy and Resources
Retail and Distribution
Infrastructure Development
Real Estate
Telecommunications
Healthcare
Hospitality
Relevant Teams
Legal
Finance
Treasury
Trade Finance
Risk Management
Compliance
International Banking
Credit Administration
Documentary Credits
Commercial Banking
Relevant Roles
Trade Finance Manager
Financial Controller
Treasury Manager
Chief Financial Officer
Banking Relationship Manager
Trade Operations Manager
Credit Risk Manager
Compliance Officer
Legal Counsel
Documentary Credits Specialist
International Business Manager
Finance Director
Commercial Banking Officer
Trade Finance Analyst
Letter of Credit Specialist
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