This document is essential for businesses requiring ongoing financial guarantees or standby support in their commercial operations. A Revolving SBLC provides a flexible financial instrument that automatically reinstates after each draw, subject to agreed terms and conditions. Under Malaysian jurisdiction and overseen by Bank Negara Malaysia, this document incorporates necessary provisions to comply with the Financial Services Act 2013 and related banking regulations. It is commonly used in international trade, project financing, and commercial transactions where continuous financial assurance is required. The document includes detailed provisions for facility limits, drawing conditions, reinstatement mechanisms, and compliance requirements with both local and international banking standards.
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1. Parties: Identification of the applicant, beneficiary, and issuing bank
2. Background: Context of the SBLC issuance and relationship between parties
3. Definitions: Key terms used throughout the document
4. Facility Amount and Nature: Specification of the SBLC amount and its revolving nature
5. Term and Renewal: Duration of the SBLC and renewal conditions
6. Drawing Conditions: Conditions and procedures for drawing under the SBLC
7. Reinstatement Provisions: Terms governing the revolving nature and reinstatement of the credit
8. Fees and Charges: All applicable fees, charges, and commission
9. Security and Collateral: Required security or collateral arrangements
10. Representations and Warranties: Standard declarations by the applicant
11. Events of Default: Circumstances constituting default and consequences
12. Governing Law and Jurisdiction: Application of Malaysian law and jurisdiction
1. Counter-Indemnity: Additional indemnity provisions when required by the issuing bank
2. Currency Provisions: Specific provisions for cross-border transactions involving multiple currencies
3. Insurance Requirements: Specific insurance requirements for certain types of transactions
4. Tax Provisions: Special tax considerations for international transactions
5. Assignment Provisions: Terms governing any permitted assignment of rights
6. Force Majeure: Provisions for unforeseen circumstances affecting performance
1. Form of SBLC: Template of the actual SBLC to be issued
2. Fee Schedule: Detailed breakdown of all fees and charges
3. Drawing Requirements: Specific documents required for drawing under the SBLC
4. Security Documents: Forms of security documents and collateral arrangements
5. Compliance Requirements: List of required compliance documents and certifications
6. Contact Details: Contact information for all relevant parties and departments
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking & Financial Services
International Trade
Manufacturing
Construction
Energy & Resources
Infrastructure
Import/Export
Commodities Trading
Real Estate Development
Telecommunications
Relevant Teams
Treasury
Trade Finance
Legal
Compliance
Risk Management
Corporate Banking
International Banking
Finance
Commercial Operations
Credit
Relevant Roles
Chief Financial Officer
Treasury Manager
Trade Finance Manager
Financial Controller
Corporate Banking Officer
Trade Finance Operations Manager
Risk Management Officer
Compliance Officer
Legal Counsel
Commercial Director
International Trade Manager
Credit Risk Manager
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