Standby Letter of Credit Application

STANDBY LETTER OF CREDIT APPLICATION

Applicant Information

Applicant Name:

Corporation Limited Liability Company Partnership Individual Other

Beneficiary / Beneficiaries

Beneficiary Name:

Letter of Credit Terms

Amount: Currency:

Expiry Date (last day for presentation): Expiry Place:

Tenor: At Sight Deferred Payment If deferred, days after presentation:

Partial Drawings Permitted: Yes    Transferable: Yes

Confirming Requested: Yes No Confirming Bank (if known):

Documentation and Presentation

Documents required for presentation (select all applicable):
Original written demand by beneficiary stating the amount due under the underlying obligation Commercial invoice or beneficiary's statement of account Certificate of default or non-performance as specified by underlying agreement Other:

Fees, Charges and Reimbursement

Applicant agrees to pay all issuance, amendment, advising, confirming, negotiation, and other charges and commissions as established by the issuing bank. Fees payable by applicant:

Reimbursement/Reimbursement Account:

Representations, Warranties and Undertakings

The Applicant represents and warrants to the Issuing Bank that: (a) the execution and delivery of this application and the issuance of the standby letter of credit will not violate any agreement, law, regulation, or order binding on the Applicant; (b) the Applicant is solvent and has authority to incur the obligations created by this application; and (c) all information supplied in this application is true and correct. Applicant further undertakes to perform and pay when due all amounts payable to the Issuing Bank in connection with any letter of credit issued pursuant to this application.

Indemnity and Security

As a condition to issuance, the Applicant shall indemnify and hold harmless the Issuing Bank and any confirming or advising bank from and against all liabilities, losses, damages, costs and expenses resulting from or arising out of the issuance, amendment, confirmation, negotiation or payment under the standby letter of credit, including legal fees. Applicant grants the Bank a security interest in any collateral identified below or in separate security documents executed in favor of the Bank.

Governing Law and Jurisdiction

This application, the standby letter of credit and any amendment or related agreement shall be governed by and construed in accordance with the laws of: . Applicant consents to the exclusive jurisdiction of the courts of that jurisdiction for disputes arising hereunder.

Amendments / Cancellation

Applicant understands that any amendment, modification or cancellation of an issued standby letter of credit requires the Issuing Bank's consent and may require additional documentation and fees. Applicant agrees to reimburse the Issuing Bank for the full amount of any payment made under the letter of credit, plus interest and costs, on demand.

Acknowledgement and Signature

By signing below, the Applicant certifies that the Applicant has read and understands the terms set forth in this application, that the representations and warranties are true and correct, and that the Applicant authorizes the Issuing Bank to obtain credit and other information required to assess creditworthiness in connection with this application.

Sign Now