12/04/19 HSBC DRAFT FINAL

MESSAGE HEADER-----------------------------------------------------------------
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SWIFT INPUT : FIN 760 GUARANTEE/STANDBY LETTER OF CREDIT
SENDER : HSBCHKHHHKH
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED,
HK

RECEIVER : XXXXXXXXX
PT.BANK XXXXXXXX
JAKARTA, INDONESIA
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MT760 STANDBY LETTER OF CREDIT

TO: INSTITUTION: PT.BANK XXXXXXXXXX

27: SEQUENCE OF TOTAL

1/1

20: TRANSACTION REFERENCE NUMBER

XXX

23: FURTHER IDENTIFICATION

XXXX

30: ISSUE DATE

19/04/12

40C: APPLICABLE RULES

LATEST REVISION OF INTERNATIONAL STANDBY PRACTICES ISP 98, ICC PUBLICATION NO.590

77C: DETAILS OF STANDBY LETTER OF CREDIT

TYPE OF SBLC – IRREVOCABLE STANDBY LETTER OF CREDIT

DATE AND PLACE OF EXPIRY : XX/XX/2020 . HONGKONG
APPLICANT: GRAND TREASURE INTERNATIONAL INVESTMENT LIMITED, CENTRAL, HONG KONG

MATURITY: XX/XX/2020

BENEFICIARY NAME: PT.BANK XXXXXXXXXXXX

CURRENCY AMOUNT: USD $ 20,000,000.00

WE THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, HONGKONG HEREBY ISSUE THIS
IRREVOCABLE AND UNCONDITIONAL STANDBY LETTER OF CREDIT NO.: …………..………………….. DATED:XX/XX/XX,
FAVORING YOURSELVES, PT. BANK XXXXXXXXXXXXX (“YOU”, OR THE
“BENEFICIARY”) AT THE REQUEST OF PT. XXXXXXXXXXXX, INDONESIA (THE “BORROWER”)
AS SECURITY FOR CREDIT FACILITY (THE “CREDIT FACILITY”) EXTENDED BY YOU TO THE BORROWER, PURSUANT TO
THE CREDIT AGREEMENT NO. …………………………. DATED:XX/XX/XX, BETWEEN YOU AND THE BORROWER
(HEREINAFTER THE CREDIT AGREEMENT AND ANY OF ITS AMENDMENT, SUPPLEMENT AND ADDITION SHALL BE
REFERRED AS TO THE “CREDIT AGREEMENT”).
OUR LIABILITY TO YOU UNDER THIS STANDBY LETTER OF CREDIT SHALL NOT EXCEED USD 20,000,000.00 (US
DOLLARS TWENTY MILLION ONLY).

THIS STANDBY LETTER OF CREDIT IS AVAILABLE FOR PAYMENT BY US UPON RECEIPT OF YOUR FIRST WRITTEN
DEMAND BY AUTHENTICATED SWIFT CLAIMS TO US IN WHICH THIS DEMAND MUST BE ACCOMPANIED BY YOUR
STATEMENT INDICATING OUR STANDBY LETTER OF CREDIT NUMBER AND AMOUNT CLAIMED AND CERTIFYING
THAT THE BORROWER HAS NOT HONOURED YOUR REQUEST FOR REPAYMENT AND THAT YOUR CLAIM
REPRESENTS THE UNPAID AMOUNT INCLUDING INTEREST DUE AND OWING TO YOU UNDER THE CREDIT
AGREEMENT.

MULTIPLE AND PARTIAL DRAWINGS ARE PERMITTED, HOWEVER, IN ANY EVENT NOT EXCEEDING OUR
GUARANTEE AMOUNT AS STATED ABOVE.

1
WE SHALL REMIT PROCEEDS WHICH IS THE AMOUNT CLAIMED BY YOU TO US HEREUNDER, AS PER YOUR
WRITTEN DEMAND AND INSTRUCTIONS VIA AN AUTHENTICATED SWIFT IN THE CURRENCY OF THIS STANDBY
LETTER OF CREDIT.

OUR REMITTANCE AND PAYMENT AGAINST EACH OF YOUR WRITTEN DEMAND SHALL AUTOMATICALLY REDUCE
OUR LIABILITY AND GUARANTEE AMOUNT UNDER THIS STANDBY LETTER OF CREDIT ACCORDINGLY WITHIN 5
(FIVE) BANKING DAYS AFTER SUBMISSION OF YOUR CLAIM.

OUR LIABILITY UNDER THIS STANDBY LETTER OF CREDIT SHALL BE EFFECTIVE FROM THE ISSUANCE DATE OF
THIS STANDBY LETTER OF CREDIT UNTIL XX/XX/XX (THE EXPIRY DATE). DRAWING UNDER THIS STANDBY
LETTER OF CREDIT SHALL BE MADE BY THE BENEFICIARY AND MUST BE MADE ON OR BEFORE THE EXPIRY DATE.
THEREAFTER, THIS STANDBY LETTER OF CREDIT SHALL BE NULL AND VOID. THIS STANDBY LETTER OF CREDIT IS
NOT TRANSFERRABLE WITHOUT OUR PRIOR WRITTEN CONSENT.

ALL PAYMENTS HEREUNDER SHALL BE MADE FREE AND CLEAR OF AND WITHOUT DEDUCTION FOR ANY PRESENT
OR FUTURE TAXES, RESTRICTIONS AND CONDITIONS OF ANY NATURE AND WITHOUT SET-OFF OF
COUNTERCLAIM FOR ANY REASON WHATSOEVER, AND FURTHER NOTWITHSTANDING ANY OBJECTION FROM THE
BORROWER.

WE HEREBY AGREE THAT WE SHALL GUARANTEE THE BORROWER ONLY TO THE EXTEND OF AND UNDER THIS
STANDBY LETTER OF CREDIT NOTWITHSTANDING ANY OBJECTION BY THE BORROWER IN RESPECT THEREOF OR
ANY VARIATION OF, AMENDMENT TO ABOVEMENTIONED CREDIT FACILITIES TO THE BORROWER OR ANY
INVALIDITY OR UNENFORCEABILITY IN RESPECT OF SUCH CREDIT FACILITIES, WHICH SUCH INVALIDITY AND /
OR UNENFORCEABILITY SHALL NOT BE DEEMED OR LEGALLY CONSTRUED AS THE NULL AND VOID, AND OR
IMPAIR AND / OR CAUSE TO IMPAIR THE EFFECTIVENESS AND THE VALIDITY OF THE CREDIT FACILITY GRANTED
BY YOU TO THE BORROWER AND / OR ANY CREDIT AGREEMENT RELEVANT THERETO OR GRANTING BY YOU OF
ANY TIME OR OTHER INDULGENCE TO THE BORROWER THEREUNDER.

THIS STANDBY LETTER OF CREDIT IS SUBJECT TO THE INTERNATIONAL STANDBY PRACTICE 1998 (ISP98),
INTERNATIONAL CHAMBER OF COMMERCE PUBLICATION NO. 590.

THIS SBLC SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE REPUBLIC
OF HONGKONG AND ALL PARTIES SHALL SUBMIT TO THE JURISDICTION OF THE COURTS OF HONGKONG.

BEST REGARDS
SWIFT CODE : HSBCHKHHHKH