The Non-Recourse SBLC is a crucial financial instrument in Malaysian banking and international trade, providing payment security while limiting the applicant's liability. It is commonly used in project finance, international trade, and large commercial transactions where parties seek to limit their exposure to specific assets or collateral. The document must comply with Malaysian banking regulations, particularly the Financial Services Act 2013, while incorporating international banking standards such as UCP 600 and ISP98. This type of SBLC is particularly valuable when the applicant wants to ring-fence their liability to specific assets or when the transaction structure requires limited recourse financing. The document includes detailed provisions for drawing conditions, documentation requirements, and payment terms, reflecting both Malaysian legal requirements and international banking practices.
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1. Parties: Identification of the issuing bank, the applicant, and the beneficiary
2. Background: Context of the SBLC issuance, underlying transaction details, and relationship between parties
3. Definitions: Key terms used in the SBLC including banking terms, financial definitions, and technical terminology
4. SBLC Amount and Currency: Specification of the maximum amount and currency of the SBLC
5. Non-Recourse Provisions: Clear statement of the non-recourse nature and its implications
6. Drawing Conditions: Specific conditions under which the beneficiary can draw on the SBLC
7. Presentation Requirements: Required documents and format for making a complying presentation
8. Payment Terms: Timeline and method of payment upon complying presentation
9. Expiry and Termination: SBLC validity period, expiry conditions, and termination circumstances
10. Governing Law and Jurisdiction: Malaysian law as governing law and jurisdiction specifications
1. Transfer Rights: Include when the SBLC needs to be transferable to other beneficiaries
2. Counter-Indemnity: Include when there are specific indemnification arrangements between applicant and issuing bank
3. Automatic Extension Clause: Include when the SBLC may need to be automatically extended under certain conditions
4. Force Majeure: Include when specific force majeure provisions are required beyond standard banking practice
5. Multiple Drawing Provisions: Include when multiple drawings are permitted under the SBLC
6. Assignment Provisions: Include when rights under the SBLC may be assigned to third parties
1. Schedule 1 - Form of Demand: Template for making a complying demand under the SBLC
2. Schedule 2 - Required Documents: Detailed list of documents required for presentation
3. Schedule 3 - Fee Schedule: Details of banking fees, charges, and commission
4. Schedule 4 - Communication Methods: Approved methods for notifications and presentations
5. Appendix A - Underlying Transaction Details: Details of the transaction or obligation being supported by the SBLC
6. Appendix B - Special Instructions: Any special instructions for handling presentations or payments
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking & Financial Services
International Trade
Construction
Energy & Resources
Manufacturing
Infrastructure Development
Real Estate
Import/Export
Shipping & Logistics
Project Finance
Relevant Teams
Legal
Trade Finance
Corporate Banking
Risk Management
Compliance
Treasury
International Banking
Credit Administration
Documentation
Project Finance
Relevant Roles
Trade Finance Manager
Corporate Banking Officer
International Banking Manager
Credit Risk Officer
Legal Counsel
Compliance Officer
Treasury Manager
Project Finance Manager
Commercial Banking Officer
Documentary Credits Specialist
Chief Financial Officer
Risk Management Officer
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