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Non Operative SBLC for Philippines

Non Operative SBLC Template for Philippines

A Non-Operative Standby Letter of Credit (SBLC) under Philippine law is a contingent banking instrument issued by a Philippine bank that serves as a guarantee of payment or performance. This document, while structured as a formal bank guarantee, remains inactive until specific predetermined conditions are met. It follows Philippine banking regulations, particularly BSP Circular No. 1045 and the Manual of Regulations for Banks, while also adhering to international banking standards such as ISP98 and UCP 600. The document includes comprehensive details about the parties involved, terms and conditions for activation, validity period, and specific requirements under Philippine jurisdiction.

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Non Operative SBLC

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What is a Non Operative SBLC?

The Non-Operative SBLC is a specialized banking instrument commonly used in high-value international transactions where parties require a robust financial guarantee that remains dormant until specific conditions are fulfilled. This document type is particularly relevant in the Philippine context, where it must comply with both local banking regulations (including BSP guidelines) and international banking practices. The Non Operative SBLC provides a secure framework for complex commercial transactions while offering the flexibility of remaining inactive until needed. It typically includes detailed provisions about the parties, amount, validity period, activation conditions, and compliance requirements. This instrument is especially valuable in international trade, project financing, and large-scale commercial transactions where Philippine entities are involved, offering a balance between security and conditional activation.

What sections should be included in a Non Operative SBLC?

1. Reference Number and Date: Unique SBLC identifier and issuance date

2. Bank Details: Complete details of the issuing bank including name, branch, and contact information

3. Applicant Information: Full details of the party requesting the SBLC

4. Beneficiary Information: Complete details of the beneficiary including full name, address, and banking information

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

6. Validity Period: Explicit statement of the effective date and expiry date of the SBLC

7. Non-Operative Declaration: Clear statement of the non-operative nature of the SBLC and its implications

8. Terms and Conditions: Specific conditions under which the SBLC would become operative

9. Governing Law and Jurisdiction: Statement that the SBLC is governed by Philippine law and relevant international conventions

10. Authentication: Bank's authorized signatures and authentication details

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

1. Transfer Provisions: Include when the SBLC needs to be transferable to other beneficiaries

2. Confirmation Instructions: Include when a confirmation from another bank is required

3. Special Instructions: Include when there are specific requirements for future activation or operation

4. Force Majeure Clause: Include when specific force majeure provisions need to be detailed

5. Amendment Procedures: Include when specific procedures for future amendments need to be detailed

6. Compliance Declarations: Include when specific regulatory compliance statements are required

What schedules should be included in a Non Operative SBLC?

1. Schedule A - Supporting Documents: List of documents required for future activation or operations

2. Schedule B - Fee Structure: Detailed breakdown of banking fees and charges

3. Schedule C - Bank's Standard Terms: Standard terms and conditions of the issuing bank

4. Appendix 1 - Authentication Specimens: Specimen signatures and authentication methods

5. Appendix 2 - Communication Procedures: Procedures for official communications regarding the SBLC

6. Appendix 3 - Activation Requirements: Detailed requirements and procedures for future activation

Authors

Alex Denne

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

Jurisdiction

Philippines

Document Type

Letter of Credit

Cost

Free to use
Relevant legal definitions



































Clauses






























Relevant Industries

Banking and Financial Services

International Trade

Import/Export

Construction and Infrastructure

Manufacturing

Real Estate Development

Energy and Utilities

Telecommunications

Mining and Resources

Maritime and Shipping

Agriculture and Commodities

Relevant Teams

Legal

Finance

Treasury

International Banking

Trade Finance

Risk Management

Compliance

Corporate Banking

Credit Administration

Documentation

Operations

Relevant Roles

Trade Finance Manager

International Banking Officer

Compliance Officer

Credit Risk Manager

Corporate Banking Manager

Treasury Manager

Chief Financial Officer

Finance Director

Legal Counsel

Banking Operations Manager

Trade Operations Specialist

Documentary Credits Manager

Relationship Manager

Risk Assessment Officer

Corporate 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, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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