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Non Transferable SBLC for India

Non Transferable SBLC Template for India

A Non-Transferable Standby Letter of Credit (SBLC) under Indian jurisdiction is a formal banking instrument that provides a guarantee of payment issued by a bank on behalf of a client. This document, governed by Indian banking laws and regulations including the Banking Regulation Act 1949 and FEMA 1999, serves as a payment of last resort if the client fails to fulfill their contractual obligations. The non-transferable nature ensures that only the named beneficiary can make claims under the SBLC, providing additional security and control over the instrument's usage. The document incorporates both domestic Indian banking requirements and international banking practices while maintaining compliance with RBI guidelines.

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Non Transferable SBLC

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What is a Non Transferable SBLC?

The Non-Transferable SBLC is a crucial financial instrument in Indian banking and international trade, designed to provide secure payment guarantees while maintaining strict control over who can claim against it. This document type is particularly relevant when parties require a bank-backed guarantee but want to ensure the beneficiary cannot transfer their rights to any third party. The non-transferable nature provides additional security and is often preferred in high-value transactions or when specific compliance requirements must be met. Subject to Indian banking regulations, particularly RBI guidelines and FEMA requirements, this document must incorporate both domestic legal requirements and international banking practices such as UCP 600 and ISP98. It's commonly used in international trade, project financing, and performance guarantees, where the identity of the beneficiary is crucial to the transaction's integrity.

What sections should be included in a Non Transferable SBLC?

1. Issuing Bank Details: Complete details of the issuing bank including name, branch, SWIFT code, and contact information

2. SBLC Number and Date: Unique identification number and issuance date of the SBLC

3. Beneficiary Details: Complete identification and contact details of the beneficiary

4. Applicant Details: Complete identification and contact details of the applicant requesting the SBLC

5. Amount and Currency: The maximum drawable amount and currency of the SBLC

6. Expiry Date: Clear statement of the expiry date and time of the SBLC

7. Purpose and Underlying Transaction: Description of the underlying transaction or obligation being secured

8. Drawing Terms and Conditions: Specific conditions that must be met for the beneficiary to draw under the SBLC

9. Required Documents: List of documents that must be presented for drawing under the SBLC

10. Non-Transferability Clause: Express provision stating that the SBLC cannot be transferred or assigned

11. Governing Law and Jurisdiction: Specification of Indian law as governing law and jurisdiction for disputes

12. Authorization and Signatures: Official bank signatures and authorization details

What sections are optional to include in a Non Transferable SBLC?

1. Partial Drawings Clause: Include when partial drawings are to be allowed under the SBLC

2. Auto-Extension Clause: Include when the SBLC should have an automatic extension feature

3. Multiple Currency Drawing Option: Include when drawings in multiple currencies are to be permitted

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

5. Force Majeure Provisions: Include when specific force majeure conditions need to be addressed

6. Anti-Money Laundering Compliance: Include when enhanced AML compliance requirements are needed

7. Reduction Schedule: Include when the SBLC amount is to be reduced over time according to a schedule

What schedules should be included in a Non Transferable SBLC?

1. Schedule 1 - Document Presentation Requirements: Detailed specifications for format and content of required documents

2. Schedule 2 - Drawing Certificate Format: Standard format for the beneficiary's drawing certificate

3. Schedule 3 - Bank Charges and Fee Schedule: Details of all applicable bank charges and fees

4. Appendix A - Communication Procedures: Procedures for communications between parties including SWIFT formats

5. Appendix B - Specimen Signatures: Authorized specimen signatures for all relevant bank officials

6. Appendix C - Compliance Documents: Required regulatory compliance documents and certifications

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

India

Publisher

Ƶ

Document Type

Letter of Credit

Cost

Free to use
Relevant legal definitions
































Clauses






























Relevant Industries

Banking and Financial Services

International Trade

Construction and Infrastructure

Manufacturing

Energy and Utilities

Real Estate

Telecommunications

Mining and Resources

Import/Export

Shipping and Logistics

Government and Public Sector

Relevant Teams

Legal

Finance

Treasury

International Banking

Trade Finance

Compliance

Risk Management

Corporate Banking

Credit Administration

Operations

Relevant Roles

Trade Finance Manager

Corporate Banking Officer

International Banking Manager

Compliance Officer

Legal Counsel

Credit Risk Manager

Treasury Manager

Chief Financial Officer

Banking Operations Manager

Documentary Credits Specialist

Trade Finance Operations Officer

Relationship Manager

Risk Assessment Officer

Financial Controller

Company Secretary

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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