FORMAT OF ACCEPTABLE STANDBY LETTER OF

CREDIT (FULL FORMAT)

(TO BE TRANSMITTED BY SWIFT)

FROM : JANATA BANK LIMITED (???Address???)

TO : .(CORRESPONDENT IN BENEFICIARYS CITY)..

APPLICANT : QUANTUM POWER SYSTEMS LIMITED ( .Address..)

BENEFICIARY: [TO BE ADVISED LATER]

SWIFT FORMAT: MT???? (NO free format)

STANDBY LETTER
OF CREDIT NO: ???????)

AMOUNT : USD??? (UNITED STATES DOLLARS???)

ISSUE DATE:

EXPIRY DATE AND PLACE : ????? AT OUR COUNTERS IN DHAKA, BANGLADESH

79. NARRATIVE

WE, JANATA BANK LIMITED, (???Address??) ON BEHALF OF THE APPLICANT, HEREBY ISSUE
OUR IRREVOCABLE STANDBY LETTER OF CREDIT NUMBER????? IN YOUR FAVOUR UP TO
AN AGGREGATE AMOUNT OF US DOLLARS???? (USD in numbers) FOR THE PURPOSE OF
PARTIALLY SECURING UNPAID INDEBTEDNESS, RELATED TO THE COMMISSIONING OF
POWER PLANTS AT NOAPARA AND BHERAMARA, WHETHER ACTUAL OR CONTINGENT,
DUE OR OWING TO THE BENEFICIARY ARISING FROM BANK FACILITIES GRANTED BY
YOU, ON AUTHORITY OF THE BENEFICIARY,TO THE APPLICANT INCLUSIVE OF ALL
INTEREST (ACCRUED OR OTHERWISE), COMMISSIONS OR RELATED BANK CHARGES.

THIS STANDBY LETTER OF CREDIT IS PAYABLE UNCONDITIONALLY, WITHOUT RIGHT OF
PROTEST, AND AT SIGHT UPON RECEIPT BY US OF YOUR WRITTEN DEMAND(S) STATING
THAT THE APPLICANT HAS FAILED OR IS CONSTRUED UNWILLING TO EFFECT THE
PURPOSES FOR WHICH THE SAID FACILITIES WERE GRANTED, ACCOMPANIED BY YOUR
DRAFT AT SIGHT DRAWN ON US AND PRESENTED AT OUR ABOVE ISSUING OFFICE
QUOTING THE REFERENCE NUMBER AND DATE OF THIS STANDBY LETTER OF CREDIT
FOR AN AMOUNT NOT EXCEEDING THE FULL STATED VALUE ABOVE. YOUR WRITTEN
DEMAND(S) MUST BE TRANSMITTED BY AUTHENTICATED SWIFT PROTOCOL.

WE CONFIRM THAT ALL SUMS HEREUNDER SHALL BE PAID FREE AND CLEAR OF ANY
WITHOLDING OR DEDUCTION FOR, OR ON ACCOUNT OF, TAXES, LEVIES, IMPORTS, DUTY
OR OTHER CHARGE OF A SIMILAR NATURE OR ANY PENALTY IN RESPECT THEREOF AND
IF WE SHALL BE REQUIRED BY LAW TO MAKE ANY SUCH WITHOLDING DEDUCTION, THE
SUM PAYABLE IN RESPECT OF WHICH SUCH DEDUCTION OR WITHHOLDING IS REQUIRED
TO BE MADE SHALL BE INCREASED TO THE EXTENT NECESSARY TO ENSURE THAT AFTER
THE MAKING OF SUCH DEDUCTION OR WITHHOLDING, YOU SHALL RECEIVE AND RETAIN
FREE FROM LIABILITY IN RESPECT OF SUCH WITHOLDING OR DEDUCTION A NET SUM
2
EQUAL TO THE SUM WHICH YOU HAVE RECEIVED HAD NO SUCH WITHOLDING OR
DEDUCTIOIN BEEN MADE OR REQUIRED TO BE MADE.


SPECIAL INSTRUCTIONS

THIS STANDBY LETTER OF CREDIT IS COUNTER GUARANTEED BY HONG AND SHANGHAI
BANKING CORPORATION, ALL CHARGES FOR WHICH ARE FOR THE ACCOUNT OF THE
APPLICANT. (.provide evidence of this confirming by HSBC.)

ALL CHARGES INCURRED IN BANGLADESH ARE FOR THE ACCOUNT OF THE APPLICANT

ALL OTHER BANK CHARGES INCURRED OUTSIDE BANGLADESH, ARE FOR THE ACCOUNT
OF THE BENEFICIARY.


TRANSFER AND/OR ASSIGNMENT OF THIS STANDBY LETTER OF CREDIT IS PROHIBITED.

THIS STANDBY LETTER OF CREDIT IS EFFECTIVE FROM?????AND EXPIRES
AUTOMATICALLY ON?????? ALL DRAWINGS UNDER THIS STANDBY LETTER OF CREDIT
MUST BE MADE WITHIN 15 DAYS PRIOR TO THIS EXPIRY DATE. THIS STANDBY LETTER OF
CREDIT WILL NOT BECOME VALID, HOWEVER, IF CONTRACTED FUND OF US DOLLARS
???? (US?? IN NUMBERS???) IS NOT RECEIVED BY US WITHIN TWO BANKING DAYS OF ITS
ADVISING.

ALL CLAIMS HEREUNDER MUST BE MADE IN ONE LOT NOT LESS THAN 15 DAYS BEFORE
THE EXPIRY OF THIS STANDBY LETTER OF CREDIT


THIS STANDBY LETTER OF CREDIT IS SUBJECT TO INTERNATIONAL STANDBY PRACTICES
ISP 98 AS PER INTERNATIONAL CHAMBER OF COMMERCE PUBLICATION NO. 590




SWIFT Endings, reimbursement clauses etc.,etc .