A Backstop Letter of Credit is commonly employed when parties require additional security in financial transactions. Under English and Welsh law, this instrument provides a reliable payment mechanism that can be triggered if primary payment obligations are not met. The document typically includes specific drawing conditions, expiry dates, and documentary requirements. It's particularly valuable in complex financial structures where multiple layers of security are needed. The Backstop Letter of Credit can be issued for various amounts and durations, depending on the underlying transaction requirements, and must comply with both UCP 600 rules and local regulatory requirements.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let ¶¶Òõ¶ÌÊÓƵ's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
1. Bank Details: Name, address, and regulatory details of the issuing bank
2. Beneficiary Details: Complete identification of the beneficiary including address and reference numbers
3. Credit Amount and Currency: Specific amount, currency, and any tolerance levels
4. Validity Period: Effective date, expiry date, and place of expiry
5. Drawing Conditions: Specific terms and conditions under which the credit may be drawn
6. Presentation Requirements: Required documents and timing for presentation
1. Transfer Provisions: Terms governing if and how the LC may be transferred to another beneficiary
2. Partial Drawing Provisions: Terms specifying whether and how partial drawings are permitted
3. Revolving Credit Terms: Specific provisions for automatic reinstatement if the LC is revolving
4. Governing Law and Jurisdiction: Optional explicit statement of governing law and jurisdiction if different from standard terms
1. Form of Demand: Standard template for making a demand under the LC
2. Required Documentation List: Detailed list of all documents required for presentation
3. Authorized Signatories: List of authorized bank signatories and authentication details
4. Fee Schedule: Schedule of applicable fees and charges
Authors
Relevant legal definitions
Clauses
Relevant Industries
Relevant Teams
Relevant Roles
Find the exact document you need
Unsecured Letter Of Credit
An England & Wales financial document ensuring payment assurance without collateral in international and domestic trade.
find out more
Unrestricted Letter Of Credit
An England & Wales legal document ensuring secure international trade payments and compliance with UCP 600 rules.
find out more
Trade Finance Letter Of Credit
An England & Wales legal document ensuring secure payment for international trade under UCP 600 rules.
find out more
Unconditional Letter Of Credit
An England & Wales legal document ensuring payment security in international trade, independent of commercial contracts.
find out more
Transit Letter Of Credit
An England & Wales legal document securing payment for goods in transit under UCP 600 rules.
find out more
Synthetic Letter Of Credit
An England & Wales legal instrument offering flexible credit protection for international trade with reduced documentation.
find out more
Syndicated Letter Of Credit
An England & Wales legal document outlining multi-bank participation in large-scale international trade transactions.
find out more
Surety Backed Letter Of Credit
An England & Wales legal document ensuring enhanced payment security in high-value international trade transactions.
find out more
Structured Letter Of Credit
An England & Wales legal document ensuring secure payment and structuring in complex international trade transactions.
find out more
Restricted Letter Of Credit
An England & Wales financial document ensuring secure, non-transferable payment for international trade transactions.
find out more
Revolving Letter Of Credit
An England & Wales legal document facilitating renewable trade credit for repeated transactions under UCP 600 compliance.
find out more
Reverse Letter Of Credit
An England & Wales legal document securing beneficiary bank interests in international trade via reversed credit terms.
find out more
Sblc Purchase Agreement
An England & Wales agreement for transferring Standby Letters of Credit in international trade transactions.
find out more
Sblc Lease Agreement
An England & Wales legal document outlining terms for leasing a Standby Letter of Credit in international trade.
find out more
Provisional Credit Reversal Letter
An England & Wales document notifying account holders of provisional credit withdrawal after dispute resolution.
find out more
Outstanding Letter Of Credit
An England & Wales document confirming the status and terms of an existing Letter of Credit under UCP 600.
find out more
Operative Letter Of Credit
An England & Wales legal document ensuring secure payment in international trade through stipulated documentary conditions.
find out more
Non Recourse Sblc
An England & Wales legal document limiting liability in project finance through non-recourse SBLC provisions.
find out more
Non Negotiable Letter Of Credit
An England & Wales legal document ensuring secure payment in international trade, restricting credit transferability.
find out more
Negotiable Letter Of Credit
An England & Wales legal document ensuring secure international trade transactions through strict compliance and independent operation.
find out more
Letter Of Credit Verbiage
An England & Wales legal document securing international trade payments through bank-backed guarantees under UCP 600.
find out more
Letter Of Credit Negotiable Instrument
An England & Wales legal document securing cross-border trade payments with negotiable transfer rights.
find out more
Letter Of Credit Loc
An England & Wales legal document ensuring secure payment in international trade through bank commitment.
find out more
Letter Of Credit Facility
An England & Wales legal agreement establishing a credit line for issuing letters of credit in international trade.
find out more
Letter Of Credit Discrepancy Acceptance
An England & Wales legal document waiving discrepancies in a Letter of Credit to facilitate international trade payment.
find out more
Letter Of Credit Balance Sheet
An England & Wales document detailing financial impacts of letters of credit for regulatory compliance and risk management.
find out more
Letter Of Credit Amendment
An England & Wales legal document modifying terms of an existing Letter of Credit with all parties' agreement.
find out more
Lease Letter Of Credit
An England & Wales legal document securing landlord interests in commercial leases through a tenant-backed credit instrument.
find out more
Issuing Bank Letter Of Credit
An England & Wales legal document ensuring secure payment in international trade through bank commitment.
find out more
Irrevocable Revolving Letter Of Credit
An England & Wales legal document ensuring secure, recurring international trade payments with automatic reinstatement features.
find out more
International Letter Of Credit
An England & Wales legal document ensuring payment security in international trade through specified compliance procedures.
find out more
Interest On Letter Of Credit
An England & Wales legal document detailing interest terms for Letter of Credit transactions in international trade finance.
find out more
Fronting Letter Of Credit
An England & Wales legal document formally terminating a business contract per the agreement's terms and legal requirements.
find out more
Fronting Fee Letter Of Credit
An England & Wales legal document for tenants to formally terminate their residential tenancy agreement.
find out more
Fixed Letter Of Credit
An England & Wales legal notice terminating a residential tenancy with a 30-day notice period.
find out more
Electronic Letter Of Credit
An England & Wales legal notice terminating a service contract with 30 days' notice, detailing obligations and transition.
find out more
Divisible Letter Of Credit
An England & Wales legal document notifying landlords of a tenant's intention to vacate a rental property.
find out more
Direct Letter Of Credit
A formal notice in England & Wales to terminate a residential lease agreement under the Housing Act 1988.
find out more
Credit Reference Letter From Utility Company
A legal document in England & Wales requiring tenants to vacate a property within 60 days.
find out more
Credit Reference Letter From Supplier
A formal notice in England & Wales ending an Assured Shorthold Tenancy agreement.
find out more
³Ò±ð²Ô¾±±ð’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ³Ò±ð²Ô¾±±ð’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)