Common use of TENDER SECURITY – (LETTERS OF CREDIT Clause in Contracts

TENDER SECURITY – (LETTERS OF CREDIT. The Mandatory Conditions to be included in the Letters are in two parts, A and B. Part A Form of Documentary credit - “Irrevocable Standby” Applicable rules - “Must be UCP Latest Version” i.e. UCP 600 (2007 REVISION) ICC Publication No. 600. Place of expiry - At the counters of the advising bank. The SBLC should be available – “By Payment” Drafts should be payable at - “SIGHT” Documents required -

TENDER SECURITY – (LETTERS OF CREDIT. The Mandatory Conditions to be included in the Letters are in two parts, A and B. Part A Form of Documentary credit - “Irrevocable Standby” Applicable rules - “Must be UCP Latest Version” i.e. UCP 600 (2007 REVISION) ICC Publication No. 600. Place of expiry - At the counters of the advising bank. The SBLC should be available – “By Payment” Drafts should be payable at - “SIGHT” Documents required -.

TENDER SECURITY – (LETTERS OF CREDIT. The Mandatory Conditions to be included in the Letters are in two parts, A and B. Part A Form of Documentary credit - – “Irrevocable Standby” Applicable rules - – “Must be UCP Latest Version” i.e. UCP 600 (2007 REVISION) ICC Publication No. 600. Place of expiry - At the counters of the advising bank. The SBLC should be available – “By Payment” Drafts should be payable at - “SIGHT” Documents required -.