TENDER SECURITY – (LETTERS OF CREDIT. The Mandatory Conditions to be included in the Letters are in two parts, A and B. Place of expiry - At the counters of the advising bank. The SBLC should be available – “By Payment” Drafts should be payable at - “SIGHT”
1. Beneficiary’s signed and dated statement demanding for payment under the letter of credit no………………………….. (Insert LC No.) as……………………….(Name of applicant) (hereinafter called the “Tenderer”) indicating that the “Tenderer” has defaulted in the obligations of the Tenderer as stated by the Beneficiary.
2. The Original Letter of Credit and all amendments, if any.
1. All charges levied by any bank that is party to this documentary credit are for the account of the applicant.
2. There should be no conditions requiring compliance with the specific regulations or a particular country’s Law and regulations. The proceeds of these Letters are payable to KPLC -
a) if the Tenderer withdraws its Tender after the deadline for submitting Tenders but before the expiry of the period during which the Tenders must remain valid.
b) if the Tenderer fails to enter into a written contract in accordance with the Tender Document
c) if the successful Tenderer fails to furnish the performance security in accordance with the Tender Document.
a) if the Tenderer fails to extend the validity of the tender security where KPLC has extended the tender validity period in accordance with the Tender Document.
TENDER SECURITY – (LETTERS OF CREDIT. The Mandatory Conditions to be included in the Letters are in two parts, A and B. Place of expiry - At the counters of the advising bank. The SBLC should be available – “By Payment” Drafts should be payable at - “SIGHT”
1. Beneficiary’s signed and dated statement demanding for payment under the letter of credit no………………………….. (Insert LC No.) as……………………….(Name of applicant) (hereinafter called the “Tenderer”) indicating that the “Tenderer” has defaulted in the obligations of the Tenderer as stated by the Beneficiary.
2. The Original Letter of Credit and all amendments, if any.
1. All charges levied by any bank that is party to this documentary credit are for the account of the applicant.
2. There should be no conditions requiring compliance with the specific regulations or a particular country’s Law and regulations. The proceeds of these Letters are payable to KPLC -
TENDER SECURITY – (LETTERS OF CREDIT. The Mandatory Conditions to be included in the Letters are in two parts, A and B.
