{"id":232,"date":"2018-01-14T14:30:23","date_gmt":"2018-01-14T19:30:23","guid":{"rendered":"http:\/\/www.letterofcredit.biz\/?p=232"},"modified":"2025-02-09T14:51:31","modified_gmt":"2025-02-09T19:51:31","slug":"standby-letter-of-credit-sample-in-swift-format","status":"publish","type":"post","link":"https:\/\/www.letterofcredit.biz\/index.php\/2018\/01\/14\/standby-letter-of-credit-sample-in-swift-format\/","title":{"rendered":"Standby Letter of Credit Sample in Swift Format"},"content":{"rendered":"\n

A standby letter of credit is a financial instrument issued by a bank guaranteeing payment to a beneficiary if the applicant (the bank’s client) fails to fulfill the terms of an agreement.<\/p>\n\n\n\n

A standby letter of credit is issued as a financial guarantee and is not intended to serve as the primary payment method, unlike a commercial letter of credit. It is only utilized if the applicant fails to fulfill their obligations under the underlying contract, making it a secondary payment option.<\/p>\n\n\n\n

On today’s post, I would like to share a standby letter of credit sample in swift format.<\/p>\n\n\n\n

Recently I have explained the reason why I have started to put sample letters of credit on my website.<\/p>\n\n\n\n

Please read our previous article titled “Sample Letters of Credit – Part I” “Introduction to working with a letter of credit sample”<\/a> to understand pros and cons of lc samples.<\/p>\n\n\n\n

I also highly recommend you read “Sample Letters of Credit – Part II” – “Guidelines How to read sample letter of credit texts on my web site”<\/a> before starting to study my standby letter of credit sample.<\/p>\n\n\n\n\n\n\n\n

*********************SWIFT AUTH. CORRECT************************<\/strong>
\nBcode:00980
\nBIC : CDCSUS33ENJ \u2013 CDCS BANK , N.A.
\nTransfer Date\/Time : 2012-08-10-09.30.53.197333
\nType: 700 Pri. :02
\nISSUE OF A DOCUMENTARY CREDIT<\/strong><\/span>
\n****************************MESSAGE<\/strong>*********************************
\nMESSAGE BODY<\/p>\n\n\n\n

27: Sequence of Total<\/strong><\/span>
\n1\/1<\/p>\n\n\n\n

40A: Form of Documentary Credit<\/strong><\/span>
\nIRREVOCABLE STANDBY<\/p>\n\n\n\n

20: Documentary Credit Number<\/strong><\/span>
\nDC46492<\/p>\n\n\n\n

31C: Date of Issue\/Transfer of The Credit<\/strong><\/span>
\n120824<\/p>\n\n\n\n

40E: Applicable Rules<\/strong><\/span>
\nUCP LATEST VERSION<\/p>\n\n\n\n

31D: Date and Place of Expiry<\/strong><\/span>
\n130610 AT OUR COUNTERS<\/p>\n\n\n\n

50: Applicant<\/strong><\/span>
\nNORTH AMERICAN IMPORTER OF BEVERAGES INC.
\n3775 PARKINSON STREET, UNIT 25
\nEDISON AND TESLA, NJ 08000 USA<\/p>\n\n\n\n

59: Beneficiary<\/strong><\/span>
\nITALIAN COLD BUT HOT DRINKS SRL.
\nINDUSTRIAL AREA
\n39000
\nMILAN \u2013 ITALY<\/p>\n\n\n\n

32B: Currency Code \/ Amount<\/strong><\/span>
\nUSD500000,<\/p>\n\n\n\n

39A: Percentage Credit Amount Tolerance<\/strong><\/span>
\n10\/10<\/p>\n\n\n\n

41D: Available With … By …<\/strong><\/span>
\nCDCS BANK, National Association
\nBY PAYMENT<\/p>\n\n\n\n

42C: Drafts at..<\/strong><\/span>
\nSIGHT<\/p>\n\n\n\n

42D: Drawee<\/strong><\/span>
\nCDCS BANK, National Association<\/p>\n\n\n\n

47A: Additional Conditions<\/strong><\/span><\/p>\n\n\n\n

KINDLY FORWARD TO YOUR BRANCH : MILAN COMMERCIAL BRANCH ITALY BENEFICIARY\u2019S COMPLETE NAME AND ADDRESS: ITALIAN COLD BUT HOT DRINKS SRL.INDUSTRIAL AREA 39000 MILAN \u2013 ITALY<\/p>\n\n\n\n

WE HEREBY ESTABLISH OUR IRREVOCABLE STANBY LETTER OF CREDIT NO 18117915-00-000 IN FAVOR OF BENEFICIARY FOR THE ACCOUNT OF NORTH AMERICAN IMPORTER OF BEVERAGES INC.IN AN AMOUNT NOT TO EXCEED USD500.000,00(FIVE HUNDRED THOUSAND AND 00\/100 US DOLLARS)PLUS OR MINUS TEN PERCENT, AVAILABLE FOR PAYMENT AT OUR COUNTERS AT 200 SECOND AVENUE, 3RD FLOOR, BANKING HEAD QUARTER BUILDING PITTSBURGH USA AVAILABLE BY BENEFICIARY\u2019S SIGHT DRAFT DRAWN ON CDCS BANK , NATIONAL ASSOCIATION, ACCOMPANIED BY BENEFICIARY\u2019S STATEMENT AS FOLLOWS :
\n\u201cI (INSERT NAME AND TITLE) CERTIFIED THAT I AM AN AUTHORIZED REPRESENTATIVE OF ITALIAN COLD BUT HOT DRINKS SRL. AND HEREBY DEMAND PAYMENT OF USD (INSERT AMOUNT) UNDER CDCS BANK , NATIONAL ASSOCIATION LETTER OF CREDIT NO 18117915-00-000. I FURTHER CERTIFY THAT THE AMOUNT OF OUR DEMAND REPRESENTS THE AMOUNT DUE US AS A RESULT OF THE FAILURE OF NORTH AMERICAN IMPORTER OF BEVERAGES INC. TO PERFORM IN ACCORDANCE WITH CONTRACT ORGANIC FOODS SALES PROGRAMME 2012-2014 FROM MILAN ITALY TO NEW JERSEY USA.
\nDRAFTS DRAWN UNDER THIS LETTER OF CREDIT MUST BE MARKED : \u201cDRAWN UNDER CDCS BANK, NATIONAL ASSOCIATION, STANDBY LETTER OF CREDIT NO : 18117915-00-000 DATED 12.AUGUST.2012.<\/p>\n\n\n\n

PARTIAL DRAWINGS ARE PERMITTED.<\/p>\n\n\n\n

THIS LETTER OF CREDIT WILL EXPIRE AT OUR COUNTERS 200 SECOND AVENUE, 3RD FLOOR, BANKING HEAD QUARTER BUILDING PITTSBURGH USA ON MAY 01.2013 AT 5.00 PM EASTERN TIME.<\/p>\n\n\n\n

THIS CREDIT IS SUBJECT TO THE UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS (2007 VERSION) INTERNATIONAL CHAMBER OF COMMERCE PUBLICATION NO 600.<\/p>\n\n\n\n

WE HEREBY ENGAGE WITH YOU THAT DRAWINGS PRESENTED UNDER AND IN ACCORDANCE WITH THE TERMS AND CONDITIONS OF THIS CREDIT WILL BE DULY HONORED.<\/p>\n\n\n\n

71 B : Charges and Fees<\/span><\/strong><\/p>\n\n\n\n

OTHER THAN THE ISSUING BANKS ARE FOR THE ACCOUNT OF THE BENEFICIARY. ISSUING BANK\u2019S CHARGES ARE FOR THE ACCOUNT OF THE APPLICANT.<\/p>\n\n\n\n

49 : Confirmation Instructions<\/strong><\/span>
\nWithout<\/p>\n\n\n\n

SAC<\/p>\n\n\n\n

*************************End of Message<\/em>*****************<\/strong>*<\/strong><\/p>\n\n\n\n

\n
<\/div>\n\n\n\n

\u00d6ZG\u00dcR EKER (CDCS)<\/strong><\/p>\n\n\n\n

Letter of Credit Consultancy Services<\/strong><\/p>\n\n\n\n

\n
Contact us<\/a><\/div>\n<\/div>\n\n\n\n
<\/div>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"

A standby letter of credit is a financial instrument issued by a bank guaranteeing payment to a beneficiary if the applicant (the bank’s client) fails to fulfill the terms of an agreement. A standby letter of credit is issued as<\/p>\n","protected":false},"author":1,"featured_media":239,"comment_status":"open","ping_status":"open","sticky":true,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,54,56],"tags":[20,21],"class_list":["post-232","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-samples","category-letter-of-credit-types","category-standby-letter-of-credit","tag-sample-letter-of-credit","tag-stand-by-letter-of-credit"],"_links":{"self":[{"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/posts\/232","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/comments?post=232"}],"version-history":[{"count":0,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/posts\/232\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/media\/239"}],"wp:attachment":[{"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/media?parent=232"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/categories?post=232"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/tags?post=232"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}