San Francisco, U.S.A.

To whom it may concern,

We hereby issue our irrevocable standby letter of credit No. ..., by order of Buyers (N.I.), Belfast, Northern Ireland, for an amount of GBP100,000.00 (One hundred thousand pounds sterling) which expires at our counters on 31 December 20xx.

This standby letter of credit is available with Northern Bank Limited, Belfast, Northern Ireland, by payment against presentation of the following beneficiary’s statement:


‘We (beneficiary) hereby state that (applicant) has failed to fulfil their payment obligations to us within the agreed timescale in respect of goods supplied as detailed on unpaid invoice(s) (ref number(s) and date(s) of unpaid invoice(s)).

We confirm that the sum of (amount being claimed) has not and will not be received by us from any other source and is accordingly due and payable under Standby Letter of Credit (L/C number) issued by Northern Bank Ltd.

We confirm that we have not and will not rank in any insolvency of (applicant) prior to any claim of Northern Bank Ltd and that the signatory(ies) to this statement are empowered to sign and make this claim on behalf of the (beneficiary).’


Additional Conditions:
Beneficiary’s statement must be made on original letterhead paper of the Beneficiary. The signatory(ies) on the Beneficiary’s statement must be authenticated by a Bank, evidenced by a Bank stamp and signature and bearing the wording. We certify that the signatory(ies) appearing hereon are empowered to make such a statement on behalf of (beneficiary).

Claims by telefax, SWIFT, E-mail or any other form of telecommunication are not permitted.

Partial drawings are permitted under this Standby Letter of Credit subject to the maximum aggregate of such drawings not exceeding the amount of the letter of credit.

All charges outside Northern Ireland under this standby letter of credit are for account of the beneficiary/applicant.
Upon receipt of credit complying documents we shall cover you as per your instructions.

Except where otherwise expressly stated, this standby letter of credit is subject to the Uniform Customs and Practice for Documentary Credits (2007 Revision) ICC Publication No. 600.

Please quote our reference number on any correspondence.


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