Examples of SBLC in a sentence
The SBLC should be available – “By Payment” Drafts should be payable at - “SIGHT”Documents required -1.
If HSBC confirms a Documentary Credit or SBLC on an undisclosed basis, the Customer shall not make a presentation in respect of the Documentary Credit or SBLC to any person other than HSBC and shall promptly provide to HSBC the original Documentary Credit or SBLC, any operative documents and any amendments issued by the relevant issuing bank.
Notwithstanding any instruction in an Application, HSBC may restrict the availability of any SBLC, or any advising or confirming, to its own offices or to any correspondent bank or agent of its choice and, in such case, HSBC may refuse to honour, or make payment for, any Document drawn or purporting to be drawn on any office, bank or other person other than such office, correspondent bank or agent.
If HSBC confirms a Documentary Credit or SBLC (whether on a disclosed or undisclosed basis) and payment in full or part is not received by HSBC from the relevant issuing bank, the Customer is only required to reimburse HSBC for amounts not received if the non-payment was due to a Recourse Event.
A written request by the selling SBLC to the D/FA for approval of a transfer of ownership and control by the entity transferring the SBA lending authority becomes notice to SBA of the intent to transfer.