Application for a Standby Letter of Credit
Please complete this form, referring to the inserted guidance notes for assistance.
Upon completion, please send to your Relationship Manager or Trade Centre.
1. Applicant’s details
Name of Company
Applicant’s reference number
Address line 1
Address line 2
Address line 3
Address line 4 OR country
Postcode
Contact name
Position held
Preferred daytime contact number
(including extension if applicable)
Fax number
Email address
Address for service correspondence*
*Please provide an address for service correspondence if it is different from the above given address.
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2. Method of issue
Please issue by:
First Class Mail OR
Courier OR
Registered/Special Delivery Additional charges apply for Courier or Registered/Special Delivery.
If the Standby Letter of Credit is to be issued by the Bank and the beneficiary needs to be advised by fax that it has been issued, please
indicate this in Section 8, ‘Special instructions’. Please include the beneficiary’s fax number and a contact point.
To be delivered to the:
If ‘Other’, please specify OR
Applicant Beneficiary OR
Other OR
Standby Letter of Credit advised through an overseas bank via SWIFT
OR
Standby Letter of Credit advised and confirmed by an overseas bank via SWIFT
OR
Standby Letter of Credit issued by an overseas bank via SWIFT
Nominated overseas issuing/advising and confirming bank and branch details (if any)
Where the beneficiary has nominated a bank, or one is required by the contract and/or local rules and regulations, the bank’s name and
branch address, if known, should be entered here.
3. Format of Standby Letter of Credit
The Bank’s standard wording for Standby Letters of Credit is available free of charge and will be used in all cases where nonstandard wording is not requested. Wherever non-standard wording is requested by our customers a flat fee will be charged
covering the review process which is necessary to ensure the Standby Letter of Credit wording is suitable for the bank to enter
into. This will be charged whether or not the instrument is eventually issued. For the non-standard wording please complete
the form ‘Request for Non-Standard Wording in a Bond, Guarantee or Standby Letter of Credit’. This is available from
rbs.co.uk/bg.
Please select one of the following options
Bank’s standard wording *
OR
In the new or previously issued format attached **
If the format required has already been submitted or issued, please enter the reference
(Please ensure that all details required for completion are provided)
*Bank’s standard wording
V
DWR
If this box is marked the Bank will endeavour to incorporate your details into one of its standard texts (copies of which are available on request).
** In the previously issued format attached
When a non-standard text is needed, more time is required before the Standby Letter of Credit can be issued. It is, therefore, important to
submit your application as early as possible. The Bank will examine the text and if satisfactory, will issue the Standby Letter of Credit. If the
wording is not satisfactory, the Bank will amend the text. Prior to issuing the Standby Letter of Credit, the Bank will advise you of any
amendments and any other understandings as to how the Standby Letter of Credit is to be interpreted and under what circumstances a
claim would be paid. If the box is marked in conjunction with the Request to an overseas bank to issue their Standby Letter of Credit or
confirm our own Standby Letter of Credit in favour of the beneficiary, the following will apply:
If the Standby Letter of Credit is to be issued or confirmed by an RBS International Office in the respective country, the wording will be
referred to that RBS International Office for review and comment as to whether it is suitable for the bank to enter into. The RBS International
Office in the respective country may request amendments to the wording.
Or,
If the Standby Letter of Credit is to be issued or confirmed by one of our correspondents in the respective country, which is not an RBS
International Office, we are unable to opine whether such a correspondent would find the wording acceptable. We will instruct the overseas
bank to issue or confirm the Standby Letter of Credit in the format required and it shall be assumed the overseas bank has issued or confirmed
the Standby Letter of Credit unless further comment is provided by the correspondent bank.
Small Print:
The Charge for non-standard wording will not be implemented in the following cases:
1. Using wording identical to standby letters of credit previously issued by us in the last 2 years indicated by the reference noted above.
2. Pre-printed set format industry standard Standby Letters of Credit including all Society and Council of Lloyds formats.
3. Where standard wording requires modification due to the local laws or practices of a country concerned. Where this is generally accepted
and not specific to the transaction e.g. all guarantee wording to ‘Country A’ requires removal of a certain paragraph in our standard wording.
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4. Amount of Standby Letter of Credit
Currency (in words)
Amount (in words)
Currency code
5. Beneficiary details
Amount (in figures) ,
,
,
,
.
Beneficiary’s name
Address line 1
Address line 2
Address line 3
Address line 4 OR country
Postcode
Contact name
Position held
Preferred daytime contact number
(including extension if applicable)
Fax number
6. Brief description of goods/services/purpose of Standby Letter of Credit
Please enter the details to identify the transaction that the Standby Letter of Credit covers.
7. Details of Standby Letter of Credit terms
Expiry date (DDMMYYYY)
Place of expiry
Available for payment at
RBS International RBS International 7.1 Documents required in the event of a claim
7.1.1 Certified true and correct copy invoice(s)
OR Advising bank OR Advising bank 7.1.2 Certified true and correct copy transport document, evidencing shipment of the goods. Please specify the type below.
(e.g. Bills of Lading, AWB, CMR)
7.1.3 Beneficiary statement (signatures appearing thereon to be authenticated by their bankers) that the customer has failed
to make payment to them within
These will be incorporated into the Standby Letter of Credit.
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(e.g. 30 days from date of invoice).
8. Special instructions
Please enter any special instructions here (e.g. any additional delivery instructions for the Standby Letter of Credit)
Please enter any special instructions here (for example, any additional delivery instructions for the Standby Letter of Credit). All instructions
must be clear and comprehensive.
If there is insufficient space to incorporate all special instructions on the application form, they should be detailed on a separate sheet and
attached to the form. Make sure that you indicate on the form that special instructions are attached.
9. Account details
Sterling account number
Currency account number (if applicable)
Please debit all charges to:
Please debit all payments to:
10. Standby Letter of Credit Agreement
–
Sort code Sterling account Sterling account OR
OR
–
Currency account Currency account THIS APPLICATION AND THE BANK’S TRADE SERVICES TERMS TOGETHER FORM AN IMPORTANT AGREEMENT.
YOU SHOULD TAKE LEGAL ADVICE BEFORE SIGNING.
The Trade Services Terms are available to be read and printed online. To access the Terms go to
terms.rbsinternational.com and enter RBSITFS
Alternatively, a copy can be obtained from your Relationship Manager.
By signing:
l
I/We confirm the details on the Application are correct.
l
I/We agree to the Trade Services Terms.
Please Note:
Charges
The Bank charges for providing Standby Letters of Credit. Please refer to your Relationship Manager for details. In addition,
there may be overseas issuing/advising bank and/or other charges for SWIFT, postage, amendments, legal fees etc., together
with local Stamp Duty/Taxes and such charges, all of which will be for your account. All fees concerning Trade Finance products
and services are published in the Trade Services Tariff which can be viewed at: www.natwest.com/international
Non-refund policy
No commissions to be refunded where a Standby Letter of Credit is cancelled, reduced, expires totally or is partially utilised.
Commissions on Standby Letters of Credit will continue to be charged until physical return of the Standby Letter of Credit, or
until release by our Correspondent, notwithstanding stipulated expiry date.
Signed in accordance with the authority held by the Bank
For (name of company/firm)
Authorised signatories
Name
Name
Date (DDMMYYYY)
Date (DDMMYYYY)
Customers are advised to retain a copy of this document for their records.
The Royal Bank of Scotland International Limited (RBS International).
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Registered Office: P.O. Box 64, Royal Bank House, 71 Bath Street, St. Helier, Jersey JE4 8PJ.
Tel 01534 285200. Regulated by the Jersey Financial Services Commission.
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For Relationship Manager use only
Please note that the standard tariff, as detailed on the Intranet, will be taken from the date of issue (payable
quarterly in advance). If a non-standard tariff has been agreed, via your TS Business Development Manager with
Product Management, this will be held by the relevant Trade Centre and will take precedence.
Counter indemnity
Is an Omnibus Counter Indemnity currently held for this customer?
OR
Is a Third Party Indemnity required?
Yes No Yes No Name(s) of party(s) e.g. company/individual (if a Third Party Indemnity is required)
Cash cover
Confirmation
If cash is held/to be held, is it legally charged?
A product limit covering all liabilities of:
Currency code
has been sanctioned under
Yes Amount (in figures) RMP Facility ID
,
,
,
No ,
.
PRISM Facility ID Please indicate if the Facility is a MOF or Group Facility and if applicable please advise of the Parent Company details
I confirm the application has been completed in accordance with the current Bank Account Mandate and recommend its
acceptance by the Bank. Please issue the Standby Letter of Credit in accordance with the customer instructions.
Relationship Manager’s signature
Name
Branch/Unit
Location
Contact number
Fax number
Date (DDMMYYYY)
ISV number For Retail Credit use only
Credit Sanctioner’s signature and approved stamp
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