SBLC definition

SBLC means a standby letter of credit.
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SBLC means a fully cash backed Stand By Letter of Credit via MT760 under the ISP98 Banking rules or via MT700 under the UCP 600 rules, to be decided by the Buyer’s Bank.
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SBLC means any standby letter of credit issued by the Bank in such form as shall be acceptable to the Bank.
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Examples of SBLC in a sentence

  • THIS SBLC CAN BE REINSTATED UP TO MAXIMUM CUMULATIVE DRAWINGS NOT TO EXCEED INR (<insert value in INR equivalent to 3 times the face value of SBLC >) DURING THE VALIDITY OF THE SBLC.

  • THIS LETTER OF CREDIT IS ALLOWED TO BE OVERDRAWN FOR AN ADDITIONAL AMOUNT NOT TO EXCEED 5% OF FACE VALUE OF SBLC AS INDICATED UNDER FIELD 32B IN THE EVENT OF DEPRECIATION IN THE VALUE OF INR AGAINST USD OVER AND ABOVE THE ‘INITIAL EXCHANGE RATE’.

  • WE FURTHER CONFIRM THAT THE SBLC IS CASH-BACKED AND IS TRANSFERABLE AND UNCONDITIONALLY CALLABLE UPON MATURITY.

  • Prior to the issuance of any SBLC, Bank shall receive a duly executed SBLC Agreement for the SBLC in form and substance acceptable to Bank and Borrower shall fulfill all the conditions set forth in §5.1, §5.2 and §5.3 as though an Advance were being made rather than an SBLC being issued, and any failure to do so immediately upon demand shall constitute a default of a covenant or agreement hereunder.

  • Each SBLC shall have an expiry that is not later than one year after the date of its issuance and shall otherwise be in form and substance satisfactory to Bank.


More Definitions of SBLC

SBLC has the meaning given in Clause 23.2(b);
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SBLC means an irrevocable and unconditional standby letter of credit to be provided by the Customer to PLL, which shall be:
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SBLC means Allied Capital SBLC Corporation, a Maryland corporation.
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SBLC means Standby Letter of Credit.
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SBLC means one or more standby letters of credit issued by the Issuing Bank in favour of the Agent in connection with the Facility.
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SBLC means each standby letter of credit issued by the Agent, as agent for and on behalf of the SBLC Lenders, substantially in the form of Schedule 6.
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SBLC means the standby letter of credit in the principal amount of S$4,000,000 (3 years tenor with auto renewal) issued or to be issued by PNC Bank National Association in favour of the Bank;
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