Terms and Conditions for Standby Letter of Credit Issued
- The Bank may on payment debit your account with all sums paid in connection with the Standby and any commission and interest, or at any time if it thinks fit with the whole or part of the amount of the Standby. You will place the Bank in funds on demand to meet such debits.
In the case of Standbys in a currency other than Euros, the Bank may, unless you have agreed other settlement arrangements with it, pass any such debits in Euros at the Bank's rate of exchange ruling when it passes such debit or, if passed after payment, at the Bank's rate ruling when it receives advice of payment.
You will indemnify the Bank against all claims, demands, costs, charges and expenses which may be brought or preferred against the Bank, or which it may incur arising out of or in connection with the Standby unless directly due to its negligence or default.
- All teletransmission messages in connection with the Standby shall be dispatched at your risk and cost, and save where it is directly due to the Bank's negligence or default the Bank shall not be responsible for any loss caused by mistakes, mutilations or omissions in their teletransmission, coding or decoding or interpretation when received, or by delay on the part of the teletransmission companies and/or operators.
- Neither the Bank nor any Advising (and/or any Nominated) Bank shall have any liability or responsibility for the consequences arising out of delay and/or loss in transit of any letter(s) or document(s) or for any errors in translation and/or interpretation of technical terms save where such delay, loss or errors are directly due to the Bank's negligence or default.
- Where more than one document is required to be presented under the Standby, the Bank shall not be obliged to examine such documents for inconsistency or lack of conflict (as appropriate) with each other except to the extent (if any) expressly indicated by you under "Additional Instructions" (or on an attachment to this form) irrespective of whether the Standby is subject to International Standby Practices or Uniform Customs and Practice for Documentary Credits.
- If two or more parties sign this document, the obligations hereunder are joint and several.
- The Standby requested by this application is intended to be and will be enforceable by the Beneficiary and any other parties to it according to its terms and conditions. Otherwise, neither this application nor the Standby is intended to confer any benefit on or to be enforceable by, any third party.
Notwithstanding anything to the contrary in these terms and conditions a customer of Lloyds Bank plc shall be (and shall be deemed to be) entering into a contract with Lloyds Bank plc and a customer of Lloyds Bank International Limited shall be (and shall be deemed to be) entering into a contract with Lloyds Bank International Limited and all references in these terms and conditions to the "Bank", "us", "we", "Lloyds", "Lloyds Bank" and "Lloyds Bank plc" shall be construed accordingly to give full effect to this clause.