Common use of Rule of issuing the Letter of Credit Order Clause in Contracts

Rule of issuing the Letter of Credit Order. 3.1.1.1. Based on the submission of the Application and the approval of the Letter of Credit by the Bank’s authorized body, the Bank and the Customer sign a Letter of Credit Agreement setting out the specific terms of use of the Letter of Credit. 3.1.1.2. The Letter of Credit will be used within the term stipulated by the Agreement, provided that all the conditions stipulated by the Agreement are met in the form acceptable to the Bank. 3.1.1.3. The Bank is authorized to refuse the Customer the use of the Letter of Credit and/or the issuance of the Letter of Credit Order in case the Customer does not request issuance of the Letter of Credit Order within terms and on the conditions stipulated by the Agreement, or if the Customer is in breach of conditions of the Agreement and/or any other agreements related to financial liabilities executed with the Bank.

Rule of issuing the Letter of Credit Order. 3.1.1.1. Based on the submission of the Application and the approval theapproval of the Letter of Credit by the Bank’s authorized body, the Bank and the Customer sign a Letter of Credit Agreement setting out the specific terms of use of the Letter of Credit. 3.1.1.2. The Letter of Credit will be used within the term stipulated by the Agreement, provided that all the conditions stipulated by the Agreement are met in the form acceptable to the Bank. 3.1.1.3. The Bank is authorized to refuse the Customer the use of the Letter of Credit and/or the issuance of the Letter of Credit Order in case the Customer does not request issuance of the Letter of Credit Order within terms and on the conditions stipulated by the Agreement, or if the Customer is in breach of conditions of the Agreement and/or any other agreements related to financial liabilities executed with the Bank.