Matters Pertaining to Issuance of an Indemnity Sample Clauses

Matters Pertaining to Issuance of an Indemnity. (a) If an Indemnity is issued for a Shipment that is financed by letter of credit (Letter of Credit), Applicant authorizes Bank to honor any and all drafts under such Letter of Credit covering the Shipment, even if the accompanying Documents do not in all respects conform to the requirements of such Letter of Credit or certain Documents do not accompany the draft or drafts. Applicant agrees that any such discrepancy or omission in the accompanying Documents shall in no way affect Bank's rights against Applicant under this Agreement or any other agreement between Bank and Applicant. (b) If an Indemnity is issued for a Shipment that is not financed by Letter of Credit, Applicant authorizes Bank to honor any drafts covering such Shipment, even if the conditions for honor have not been complied with due to some deficiency or variation in the Documents or Goods relating to such Shipment. (c) Application will, immediately on receipt of the original Bill(s) of Lading, arrange for th▇ ▇▇ompt release or return to Bank of the Indemnity issued pursuant to this Agreement, which relates to such Bill(s) of Lading. If an Indemnit▇ ▇▇ not released within 60 days from the date of Bank's issuing such Indemnity, or such shorter time as Bank may request, Applicant shall, at Bank's request, deliver to the carrier company or its agent a bond issued by an independent surety company to replace the Indemnity, and shall request such carrier company or its agent to return such Indemnity or to confirm that it has been cancelled. Notwithstanding any other provision of the Agreement, in order to obtain the release of an indemnity, Bank may send to a carrier company any documents remitted to Bank directly from overseas. (d) Applicant agrees that Bank and any of Bank's correspondents may receive and accept, as Bills of Lading, any Documents issued or purporting to be issued by or on behalf of any carrier which acknowledge receipt of Goods for transportation, whatever the specific provisions of such Documents. The date of each such Document shall be deemed the date of shipment of the property mentioned therein; each such Document shall be deemed if order if such date is within the time limit fixed by the relevant agreement pursuant to which such Shipment was financed (a copy of any such agreement being previously delivered to Bank by Applicant). (e) Bank is authorized to accept instructions from Applicant, relating to the issuance of an indemnity, in writing or orally, including, without ...