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SBLC Transferable for Indonesia

SBLC Transferable Template for Indonesia

A Standby Letter of Credit (SBLC) that is transferable under Indonesian law serves as a financial guarantee instrument issued by a bank, allowing the original beneficiary to transfer their rights to another party. This document is governed by Indonesian banking regulations, particularly Bank Indonesia Regulation No. 18/14/PBI/2016, and typically incorporates international banking practices such as UCP 600. It provides a secure method of payment guarantee in international trade and financial transactions, with specific provisions for transfer rights, drawing conditions, and compliance with Indonesian banking and financial regulations.

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What is a SBLC Transferable?

The Transferable SBLC is a sophisticated banking instrument used in international trade and financial transactions where the original beneficiary may need to transfer their rights to a third party. This document type is particularly relevant when dealing with complex supply chains, large infrastructure projects, or international trade transactions where multiple parties are involved. The SBLC Transferable structure provides flexibility while maintaining security, as it allows the original beneficiary to transfer their rights to another party while keeping the original bank's obligation intact. Under Indonesian law, these instruments must comply with Bank Indonesia regulations and relevant banking laws, while often incorporating international banking practices. The document includes detailed provisions for transfer mechanisms, drawing conditions, document presentation requirements, and compliance with both local and international banking standards. It's commonly used in situations where intermediaries are involved in the transaction chain or when the original beneficiary needs to extend the financial assurance to their own suppliers or subcontractors.

What sections should be included in a SBLC Transferable?

1. Parties: Identifies all parties including the issuing bank, beneficiary, and applicant

2. Background: Context of the SBLC issuance and the underlying transaction it supports

3. Definitions: Defines key terms used throughout the SBLC document

4. SBLC Amount and Currency: Specifies the maximum drawable amount and currency of the SBLC

5. Validity Period: States the effective date and expiry date of the SBLC

6. Transfer Rights and Conditions: Details the conditions and process for transferring the SBLC to another beneficiary

7. Drawing Conditions: Specifies the conditions and required documents for making a demand under the SBLC

8. Presentation Requirements: Lists the specific documents and format requirements for making a valid presentation

9. Payment Terms: Details the payment process, timing, and method upon valid presentation

10. Bank's Obligations: Outlines the issuing bank's obligations and responsibilities

11. Governing Law and Jurisdiction: Specifies Indonesian law as governing law and defines jurisdiction for disputes

12. Notices: Provides the method and addresses for formal communications between parties

What sections are optional to include in a SBLC Transferable?

1. Multiple Transfers Provision: Include when the SBLC allows for more than one transfer or partial transfers

2. Foreign Currency Provisions: Include when the SBLC involves foreign currency and exchange rate considerations

3. Counter-Indemnity: Include when there is a separate counter-indemnity arrangement with the applicant

4. Electronic Presentation: Include when electronic presentation of documents is permitted

5. Force Majeure: Include when specific force majeure provisions are required beyond standard banking practice

6. Syndication Provisions: Include when multiple banks are involved in issuing the SBLC

7. Step-In Rights: Include when certain parties have rights to step in and take over obligations

8. Anti-Money Laundering Compliance: Include when specific AML requirements need to be highlighted beyond standard provisions

What schedules should be included in a SBLC Transferable?

1. Schedule 1 - Form of Transfer Request: Standard form for requesting transfer of the SBLC

2. Schedule 2 - Form of Demand: Standard form for making a demand under the SBLC

3. Schedule 3 - Required Documents: Detailed list of documents required for presentation

4. Schedule 4 - Fee Schedule: Details of all applicable fees and charges

5. Schedule 5 - Specimen Signatures: Authorized signatures for all relevant parties

6. Appendix A - UCP 600 Incorporation: Specific articles of UCP 600 incorporated into the SBLC

7. Appendix B - Bank's Standard Terms: Standard terms and conditions of the issuing bank

8. Appendix C - Compliance Requirements: Specific regulatory compliance requirements under Indonesian law

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Indonesia

Publisher

Ƶ

Document Type

Letter of Credit

Cost

Free to use
Relevant legal definitions








































Clauses



































Relevant Industries

Banking and Financial Services

International Trade

Construction

Manufacturing

Energy and Resources

Infrastructure

Real Estate

Import/Export

Commodities Trading

Shipping and Logistics

Relevant Teams

Legal

Finance

Treasury

Trade Finance

Compliance

Risk Management

International Banking

Corporate Banking

Documentary Credits

Trade Operations

Relevant Roles

Trade Finance Manager

Corporate Banking Officer

International Banking Manager

Chief Financial Officer

Finance Director

Treasury Manager

Trade Operations Manager

Compliance Officer

Legal Counsel

Risk Manager

Documentary Credits Specialist

Banking Relationship Manager

Corporate Treasurer

Credit Risk Officer

International Trade Specialist

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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