Application for SBLC/Letter Of Guarantee/Indemnity · Application for SBLC/Letter Of...

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Sumitomo Mitsui Banking Corporation Singapore Branch (Incorporated in Japan with limited liability) Reg. No. (UEN) T03FC6366F Date: Guarantee No. MD No. Through: Amount: Renewal of: Effective from: For and on behalf of Name: 1 (a) (b) (c) that you are hereby authorised to debit my/our Account No (which shall be in the same currency as the Credit Support to be issued pursuant to this application or, where there is no account in the same currency, the S$ account maintained by me/us with you or any other account maintained by me/us with you) for the commission due to you at the % p.a. and other charges, if any, relating to the issuance and maintenance of the Credit Support for so long as the Credit Support shall be in force. The commission shall be paid at such intervals as you may from time to time specify. Execution Slip (For B ank's use only) Unit In Thou: Customer No: F. Amt Y N Fee: Credit Line: Limit Ref: P. Type B E Utilized Bal.: GM/Delegate C. Period Unused Bal.: US$ Checklist Y N Term: Last draw date: Close+Open Y N I/We hereby request your Bank to issue a Standby Letter of Credit/Letter of guarantee/Letter of indemnity (referred to herein as a "Credit Support") as follows on the terms and conditions contained below: Company's Chop & Authorised Signature S ignature Verified Application for SBLC/Letter Of Guarantee/Indemnity To: Sumitomo Mitsui Banking Corporation Singapore Branch Dear Sirs, Guarantee A m ount: Execution Date: <Terms and Conditions> In consideration of your issuing at my/our request the above mentioned Credit Support, I/we hereby irrevocably and unconditionally undertake and agree as follows: to indemnify you in full at all times from and against all sums paid by you and all actions, proceedings, damages, costs, claims, demands, suits, liabilities, charges, expenses or losses (including, without limitation, legal fees on a full indemnity basis and all applicable taxes) which you may suffer, incur or sustain by reason or on account of your having issued the Credit Support, having made any payment thereunder or otherwise relating thereto howsoever. that you shall be entitled, at your discretion and without prior reference to me/us, to debit my/our account or accounts/to set off any moneys standing in any of my/our account or accounts (whether matured or not) at any of Sumitomo Mitsui Banking Corporation's head office and/or its branches (regardless of where they are situated) with the amount of any payment you may make and in respect of any other amounts payable (whether actually or contingently, primary or otherwise, or several or joint) by me/us under or in respect of any Credit Support, and may do so notwithstanding that the balances on such accounts and aforesaid amounts may not be expressed in the same currency and you are hereby authorised to effect any necessary conversions at your own rate of exchange then prevailing. I/We shall ensure that sufficient funds are maintained in my/our account or accounts to meet each and every such payment and amounts. Notwithstanding the foregoing, if there are insufficient funds in my/our account or accounts, I/we shall immediately reimburse you for or in respect of such payments and amounts, failing which I/we shall be liable to you for all charges (including, without limitation, default interest) at your then prevailing rates. You shall not be obliged to exercise any such aforesaid rights. that any request claim or demand made upon you for payment of any sum of money under any Credit Support shall be a sufficient authority to you for making any such payment and any such payment made by you shall be binding on me/us and it shall not be open to me/us at any time thereafter to question or enquire into the validity, legality or otherwise of such payment or to deny liability under the provisions hereof or otherwise on the ground that such payment is not lawfully due and payable. (Continues on next page.) Please also indicate goods origin and shipment details when applicable (d) V01/Dec2016 1/2 In favour of: Expiring on: Purpose of Credit Support: Tolerance(%): (if applicable) (advising bank, if applicable) rate of Original

Transcript of Application for SBLC/Letter Of Guarantee/Indemnity · Application for SBLC/Letter Of...

Page 1: Application for SBLC/Letter Of Guarantee/Indemnity · Application for SBLC/Letter Of Guarantee/Indemnity To: Sumitomo Mitsui Banking Corporation Singapore Branch Dear Sirs, Guarantee

Sumitomo Mitsui Banking Corporation Singapore Branch (Incorporated in Japan with limited liability) Reg. No. (UEN) T03FC6366F

Date:

Guarantee No.

MD No.

Through:

Amount:

Renewal of:

Effective from:

For and on behalf of

Name:

1

(a)

(b)

(c)

that you are hereby authorised to debit my/our Account No (which shall be in the same currency as the Credit Support to be issued pursuant to this application or, where there is no account in the same currency, the S$ account maintained by me/us with you or any other account maintained by me/us with you) for the commission due to you at the

% p.a. and other charges, if any, relating to the issuance and maintenance of the Credit Support for so long as the Credit Support shall be in force. The commission shall be paid at such intervals as you may from time to time specify.

Execution Slip (For Bank's use only)

Unit In Thou: Customer No: F. Amt Y N Fee:

Credit Line: Limit Ref: P. Type B E

Utilized Bal.: GM/Delegate C. Period

Unused Bal.: US$ Checklist Y N

Term: Last draw date:Close+Open Y N

I/We hereby request your Bank to issue a Standby Letter of Credit/Letter of guarantee/Letter of indemnity (referred to herein as a "Credit Support") as follows on the terms and conditions contained below:

Company's Chop & Authorised Signature

SignatureVerified

Application for SBLC/Letter Of Guarantee/Indemnity

To: Sumitomo Mitsui Banking Corporation Singapore Branch

Dear Sirs,

GuaranteeAmount:

ExecutionDate:

<Terms and Conditions>In consideration of your issuing at my/our request the above mentioned Credit Support, I/we hereby irrevocably and unconditionally undertake and agree as follows:to indemnify you in full at all times from and against all sums paid by you and all actions, proceedings, damages, costs, claims, demands, suits, liabilities, charges, expenses or losses (including, without limitation, legal fees on a full indemnity basis and all applicable taxes) which you may suffer, incur or sustain by reason or on account of your having issued the Credit Support, having made any payment thereunder or otherwise relating thereto howsoever.

that you shall be entitled, at your discretion and without prior reference to me/us, to debit my/our account or accounts/to set off any moneys standing in any of my/our account or accounts (whether matured or not) at any of Sumitomo Mitsui Banking Corporation's head office and/or its branches (regardless of where they are situated) with the amount of any payment you may make and in respect of any other amounts payable (whether actually or contingently, primary or otherwise, or several or joint) by me/us under or in respect of any Credit Support, and may do so notwithstanding that the balances on such accounts and aforesaid amounts may not be expressed in the same currency and you are hereby authorised to effect any necessary conversions at your own rate of exchange then prevailing. I/We shall ensure that sufficient funds are maintained in my/our account or accounts to meet each and every such payment and amounts. Notwithstanding the foregoing, if there are insufficient funds in my/our account or accounts, I/we shall immediately reimburse you for or in respect of such payments and amounts, failing which I/we shall be liable to you for all charges (including, without limitation, default interest) at your then prevailing rates. You shall not be obliged to exercise any such aforesaid rights.

that any request claim or demand made upon you for payment of any sum of money under any Credit Support shall be a sufficient authority to you for making any such payment and any such payment made by you shall be binding on me/us and it shall not be open to me/us at any time thereafter to question or enquire into the validity, legality or otherwise of such payment or to deny liability under the provisions hereof or otherwise on the ground that such payment is not lawfully due and payable.

(Continues on next page.)

Please also indicate goods origin and shipment details when applicable

(d)

V01/Dec2016 1/2

In favour of:

Expiring on:

Purpose of Credit Support: Tolerance(%): (if applicable)

(advising bank, if applicable)

rate of

Original

Page 2: Application for SBLC/Letter Of Guarantee/Indemnity · Application for SBLC/Letter Of Guarantee/Indemnity To: Sumitomo Mitsui Banking Corporation Singapore Branch Dear Sirs, Guarantee

(e) upon the expiration or lapse of any Credit Support, to procure your full and unconditional release therefrom, and to obtain the return of the Credit Support to you for cancellation.

(f) that you shall be entitled to charge interest at your usual overdraft rates in respect of moneys owing hereunder from the date such moneys are payable until payment thereof is received by you and that you are authorised to debit any account referred to in (e) above with such amount.

(g) that I/we hereby waive promptness in commencing suit against any party hereto or any party liable hereunder, and/or in giving any notice to or of making any claim or demand hereunder upon me/us.

(h) I/We hereby irrevocable consent to the disclosure by you of such information about me/us as has been made available to you to (i) any of your head, representative and branch offices and any of your related corporations in any jurisdiction (ii) any authority including without limitation any central bank or other fiscal or monetary authority in any jurisdiction (iii) any potential assignee or transferee or purchaser in respect of your rights and/or obligations under or in connection herewith or any instrument evidencing my/our obligations or liabilities or any security in your favour (iv) any party that has provided or will provide any security or credit support for our obligations (v) your correspondents and/or agents and any other party for the purpose of giving effect to the transactions requested by me/us (vi) any financial institution for the purpose of any securitisation of our assets or your assets and (vii) any insurer, insurance broker or rating agency. Nothing herein shall limit or restrict any other consent to disclosure of information provided by me/us including pursuant to your Terms and Conditions Governing Accounts or otherwise.

(i) I/We understand that the US and other government and/or regulatory authorities impose, from time to time, specific sanctions against certain countries, entities and individuals and you may be unable to process a transaction that involves a breach of sanctions. Further authorities may require the disclosure of information. I/We confirm (unless otherwise notified to you) the above mentioned Credit Support is not connected with any sanctioned country. I/We agree that if you are required to disclose any information or if any payment in connection with the above mentioned Credit Support is blocked, frozen, delayed, refused or cancelled because it is claimed to be sanctioned-related, you shall not be liable for any information disclosed or for losses, liabilities, penalties, costs or expenses (“Liabilities”) I/we may incur and I/we shall indemnify you against any Liabilities you may incur.

(j) I/We confirm the above mentioned Credit Support does not involve; (i) financing imports or the trade through intermediaries of goods which country of origin is North Korea or which are shipped from North Korea, or for funding activities which may contribute to nuclear-related plans or preparations of North Korea, or (ii) any goods, transaction or business relationship directly or indirectly relating to Iran or (iii) any goods regulated by the Strategic Goods (Control) Act or similar laws in other jurisdictions for which I/we have not obtained the necessary approvals or permits from all relevant authorities including but not limited to Singapore Customs.

2 I/We further agree that, with respect to each Credit Support from time to time issued or to be issued by you at my/our request, the following terms and conditions shall also apply:-

(a) You shall be entitled to issue each Credit Support in such amount as you deem appropriate and all change thereto, including maximum limits, shall be at your sole discretion. In the event that you extend Credit Support in an amount which at any time exceeds that requested by me/us, I/we shall nevertheless be liable to you hereunder for and in respect of the full amount of the Credit Support extended by you.

(b) You shall be entitled to cancel any Credit Support at your sole discretion at any time prior to the effective date of such Credit Support as specified herein without assigning any reason and I/we shall not hold you liable or responsible for any losses, damages, liabilities, charges, costs or expenses suffered or incurred by me/us arising out of or in connection with such cancellation. I/We undertake to immediately inform the beneficiary of such Credit Support of the cancellation and forthwith to obtain the return of the Credit Support to you for cancellation. Without in any way limiting my/our obligations hereunder, you are authorized to inform the beneficiary of the cancellation of the Credit Support. I/We shall indemnify you in full at all times from and against all actions, proceedings, damages, costs, claims, demands, suits, liabilities, charges, expenses or losses (including, without limitation, legal fees on a full indemnity basis and all applicable taxes) which you may suffer, incur or sustain by reason or on account of your having delivered the Credit Support to me/us prior to its effective date and/or any delay or failure on my/our part in informing the beneficiary of such cancellation and/or the beneficiary making a claim on you pursuant to the Credit Support notwithstanding its cancellation.

(c) You shall at any time and from time to time be entitled to request me/us to provide cash or other collateral with respect to all or any part of the actual and/or contingent obligations which you may have under or in connection with any Credit Support issued by you. I/We shall immediately comply with each such request and shall provide you with such security interests over such cash or other collateral which is in form and substance satisfactory to you.

(d) I/we shall immediately notify you in the event that I/we make any payment or perform any obligation in respect of which you have issued any Credit Support.

(e) In the case of more than one applicant, each applicant shall be unconditionally and irrevocably jointly and severally liable to you in respect of each Credit Support.

(f) You shall at any time be entitled to amend or release any security or other rights which you have or may have under or with respect to any Credit Support in your absolute discretion.

3 These terms and conditions shall be governed by and construed in accordance with the laws of Singapore. I/We irrevocably agree to submit to the non-exclusive jurisdiction of the courts of Singapore.

4 Unless expressly provided to the contrary in these terms and conditions, a person who is not a party to these terms and conditions has no rights under the Contract (Rights of Third Parties) Act (Cap 53B) to enforce the benefit of any these terms and conditions. Notwithstanding any term herein, the consent of any third party is not required to vary or terminate these terms and conditions.

Original

Sumitomo Mitsui Banking Corporation Singapore Branch (Incorporated in Japan with limited liability) Reg. No. (UEN) T03FC6366F V01/Dec2016 2/2

Page 3: Application for SBLC/Letter Of Guarantee/Indemnity · Application for SBLC/Letter Of Guarantee/Indemnity To: Sumitomo Mitsui Banking Corporation Singapore Branch Dear Sirs, Guarantee

Sumitomo Mitsui Banking Corporation Singapore Branch (Incorporated in Japan with limited liability) Reg. No. (UEN) T03FC6366F

Date:

Guarantee No.

MD No.

Through:

Amount:

Renewal of:

Effective from:

For and on behalf of

Name:

1

(a)

(b)

(c)

that you are hereby authorised to debit my/our Account No (which shall be in the same currency as the Credit Support to be issued pursuant to this application or, where there is no account in the same currency, the S$ account maintained by me/us with you or any other account maintained by me/us with you) for the commission due to you at the

% p.a. and other charges, if any, relating to the issuance and maintenance of the Credit Support for so long as the Credit Support shall be in force. The commission shall be paid at such intervals as you may from time to time specify.

Execution Slip (For Bank's use only)

Unit In Thou: Customer No: F. Amt Y N Fee:

Credit Line: Limit Ref: P. Type B E

Utilized Bal.: GM/Delegate C. Period

Unused Bal.: US$ Checklist Y N

Term: Last draw date:Close+Open Y N

I/We hereby request your Bank to issue a Standby Letter of Credit/Letter of guarantee/Letter of indemnity (referred to herein as a "Credit Support") as follows on the terms and conditions contained below:

Company's Chop & Authorised Signature

SignatureVerified

Application for SBLC/Letter Of Guarantee/Indemnity

To: Sumitomo Mitsui Banking Corporation Singapore Branch

Dear Sirs,

GuaranteeAmount:

ExecutionDate:

<Terms and Conditions>In consideration of your issuing at my/our request the above mentioned Credit Support, I/we hereby irrevocably and unconditionally undertake and agree as follows:to indemnify you in full at all times from and against all sums paid by you and all actions, proceedings, damages, costs, claims, demands, suits, liabilities, charges, expenses or losses (including, without limitation, legal fees on a full indemnity basis and all applicable taxes) which you may suffer, incur or sustain by reason or on account of your having issued the Credit Support, having made any payment thereunder or otherwise relating thereto howsoever.

that you shall be entitled, at your discretion and without prior reference to me/us, to debit my/our account or accounts/to set off any moneys standing in any of my/our account or accounts (whether matured or not) at any of Sumitomo Mitsui Banking Corporation's head office and/or its branches (regardless of where they are situated) with the amount of any payment you may make and in respect of any other amounts payable (whether actually or contingently, primary or otherwise, or several or joint) by me/us under or in respect of any Credit Support, and may do so notwithstanding that the balances on such accounts and aforesaid amounts may not be expressed in the same currency and you are hereby authorised to effect any necessary conversions at your own rate of exchange then prevailing. I/We shall ensure that sufficient funds are maintained in my/our account or accounts to meet each and every such payment and amounts. Notwithstanding the foregoing, if there are insufficient funds in my/our account or accounts, I/we shall immediately reimburse you for or in respect of such payments and amounts, failing which I/we shall be liable to you for all charges (including, without limitation, default interest) at your then prevailing rates. You shall not be obliged to exercise any such aforesaid rights.

that any request claim or demand made upon you for payment of any sum of money under any Credit Support shall be a sufficient authority to you for making any such payment and any such payment made by you shall be binding on me/us and it shall not be open to me/us at any time thereafter to question or enquire into the validity, legality or otherwise of such payment or to deny liability under the provisions hereof or otherwise on the ground that such payment is not lawfully due and payable.

(Continues on next page.)

Please also indicate goods origin and shipment details when applicable

(d)

V01/Dec2016 1/2

In favour of:

Expiring on:

Purpose of Credit Support: Tolerance(%): (if applicable)

(advising bank, if applicable)

rate of

Duplicate

Page 4: Application for SBLC/Letter Of Guarantee/Indemnity · Application for SBLC/Letter Of Guarantee/Indemnity To: Sumitomo Mitsui Banking Corporation Singapore Branch Dear Sirs, Guarantee

(e) upon the expiration or lapse of any Credit Support, to procure your full and unconditional release therefrom, and to obtain the return of the Credit Support to you for cancellation.

(f) that you shall be entitled to charge interest at your usual overdraft rates in respect of moneys owing hereunder from the date such moneys are payable until payment thereof is received by you and that you are authorised to debit any account referred to in (e) above with such amount.

(g) that I/we hereby waive promptness in commencing suit against any party hereto or any party liable hereunder, and/or in giving any notice to or of making any claim or demand hereunder upon me/us.

(h) I/We hereby irrevocable consent to the disclosure by you of such information about me/us as has been made available to you to (i) any of your head, representative and branch offices and any of your related corporations in any jurisdiction (ii) any authority including without limitation any central bank or other fiscal or monetary authority in any jurisdiction (iii) any potential assignee or transferee or purchaser in respect of your rights and/or obligations under or in connection herewith or any instrument evidencing my/our obligations or liabilities or any security in your favour (iv) any party that has provided or will provide any security or credit support for our obligations (v) your correspondents and/or agents and any other party for the purpose of giving effect to the transactions requested by me/us (vi) any financial institution for the purpose of any securitisation of our assets or your assets and (vii) any insurer, insurance broker or rating agency. Nothing herein shall limit or restrict any other consent to disclosure of information provided by me/us including pursuant to your Terms and Conditions Governing Accounts or otherwise.

(i) I/We understand that the US and other government and/or regulatory authorities impose, from time to time, specific sanctions against certain countries, entities and individuals and you may be unable to process a transaction that involves a breach of sanctions. Further authorities may require the disclosure of information. I/We confirm (unless otherwise notified to you) the above mentioned Credit Support is not connected with any sanctioned country. I/We agree that if you are required to disclose any information or if any payment in connection with the above mentioned Credit Support is blocked, frozen, delayed, refused or cancelled because it is claimed to be sanctioned-related, you shall not be liable for any information disclosed or for losses, liabilities, penalties, costs or expenses (“Liabilities”) I/we may incur and I/we shall indemnify you against any Liabilities you may incur.

(j) I/We confirm the above mentioned Credit Support does not involve; (i) financing imports or the trade through intermediaries of goods which country of origin is North Korea or which are shipped from North Korea, or for funding activities which may contribute to nuclear-related plans or preparations of North Korea, or (ii) any goods, transaction or business relationship directly or indirectly relating to Iran or (iii) any goods regulated by the Strategic Goods (Control) Act or similar laws in other jurisdictions for which I/we have not obtained the necessary approvals or permits from all relevant authorities including but not limited to Singapore Customs.

2 I/We further agree that, with respect to each Credit Support from time to time issued or to be issued by you at my/our request, the following terms and conditions shall also apply:-

(a) You shall be entitled to issue each Credit Support in such amount as you deem appropriate and all change thereto, including maximum limits, shall be at your sole discretion. In the event that you extend Credit Support in an amount which at any time exceeds that requested by me/us, I/we shall nevertheless be liable to you hereunder for and in respect of the full amount of the Credit Support extended by you.

(b) You shall be entitled to cancel any Credit Support at your sole discretion at any time prior to the effective date of such Credit Support as specified herein without assigning any reason and I/we shall not hold you liable or responsible for any losses, damages, liabilities, charges, costs or expenses suffered or incurred by me/us arising out of or in connection with such cancellation. I/We undertake to immediately inform the beneficiary of such Credit Support of the cancellation and forthwith to obtain the return of the Credit Support to you for cancellation. Without in any way limiting my/our obligations hereunder, you are authorized to inform the beneficiary of the cancellation of the Credit Support. I/We shall indemnify you in full at all times from and against all actions, proceedings, damages, costs, claims, demands, suits, liabilities, charges, expenses or losses (including, without limitation, legal fees on a full indemnity basis and all applicable taxes) which you may suffer, incur or sustain by reason or on account of your having delivered the Credit Support to me/us prior to its effective date and/or any delay or failure on my/our part in informing the beneficiary of such cancellation and/or the beneficiary making a claim on you pursuant to the Credit Support notwithstanding its cancellation.

(c) You shall at any time and from time to time be entitled to request me/us to provide cash or other collateral with respect to all or any part of the actual and/or contingent obligations which you may have under or in connection with any Credit Support issued by you. I/We shall immediately comply with each such request and shall provide you with such security interests over such cash or other collateral which is in form and substance satisfactory to you.

(d) I/we shall immediately notify you in the event that I/we make any payment or perform any obligation in respect of which you have issued any Credit Support.

(e) In the case of more than one applicant, each applicant shall be unconditionally and irrevocably jointly and severally liable to you in respect of each Credit Support.

(f) You shall at any time be entitled to amend or release any security or other rights which you have or may have under or with respect to any Credit Support in your absolute discretion.

3 These terms and conditions shall be governed by and construed in accordance with the laws of Singapore. I/We irrevocably agree to submit to the non-exclusive jurisdiction of the courts of Singapore.

4 Unless expressly provided to the contrary in these terms and conditions, a person who is not a party to these terms and conditions has no rights under the Contract (Rights of Third Parties) Act (Cap 53B) to enforce the benefit of any these terms and conditions. Notwithstanding any term herein, the consent of any third party is not required to vary or terminate these terms and conditions.

Duplicate

Sumitomo Mitsui Banking Corporation Singapore Branch (Incorporated in Japan with limited liability) Reg. No. (UEN) T03FC6366F V01/Dec2016 2/2