Presentation of Demand and Documents under a BG/SBLC through DBS
Please take a moment to read through the Terms and Conditions and download the form at the bottom of the page.
- We agree:
- that you shall not be responsible for any act, omission, default, suspension, insolvency or bankruptcy of the Issuing Bank, the Confirming Bank or its agents, or for any delay in remittance, loss in exchange or loss of any documents, during transmission or in the course of collection;
- that you shall not be responsible for verifying, checking or otherwise dealing any of the documents or information we have requested you present to the Issuing Bank, other than presenting such documents to the Issuing Bank or Confirming Bank;
- to meet all charges incurred by you or your correspondent or agent;
- not to hold you or your correspondent bank or agents liable in the event that the Documents or some of the Documents are lost, destroyed or not delivered prior to the expiry or claim expiry of the Guarantee / SBLC or delivered wrongly by the courier service company selected by you or the postal office;
- that you shall not be responsible and shall not be under any obligation to verify or question the accuracy, authenticity or correctness of the SWIFT destination provided in this Application Form as we have so stated herein;
- that you reserve the right to reject the instructions in this Application Form at any time, in the event we fail to furnish the complete address (including postal code (if any)) for the presentation of the Demand. We further agree that you shall not be responsible and shall not be under any obligation to verify or question the accuracy, authenticity or completeness of any information or the address for presentation of the Demand as we have so stated herein.
- If there occurs in relation to the Services an Extraordinary Event (as defined below), you shall have the sole discretion to receive payment under the Services in any alternative currency at such exchange rate as you may determine in your discretion. Provided you undertake such action in good faith, any such action shall be binding on us and we shall be liable for any additional loss, damages, costs, charges and/or expenses incurred by you. An “Extraordinary Event” shall mean any event which you believe to have a material adverse effect, including any form of exchange control restriction or requirement of whatsoever nature affecting the availability, convertibility, credit or transfers of currencies or funds, any form of debt or other moratorium on jurisdictions, individuals or entities, any devaluation, re-denomination or de-monetisation and/or any form of restriction or requirement which in your good faith opinion adversely alters or changes the rights or obligations which you undertook when you agreed to perform the Services.
- We hereby irrevocably and unconditionally undertake and agree to indemnify you, your successors and assigns in full and at all times to keep you, your successors and assigns fully and completely indemnified from and against all liability, claims, demands, actions, proceedings, payments, losses and expenses whatsoever including but not limited to legal costs as between solicitor and own client which may be made or taken or incurred or suffered by you in connection with the Services.
- We agree that you shall have the sole discretion to refuse the handling of such presentation of demand at any time, notwithstanding that we have provided all information required here in this Application form. We further agree that that you do not have to provide any justification, qualifications, reasons whatsoever for the refusal.
- Save for each of you and each of your affiliates, a person who is not a party to this Application Form may not enforce any of its terms under the Contracts (Rights of Third Parties) Act 2001.
- This Application Form shall be governed by and construed in accordance with the laws of Singapore and we shall submit to the non-exclusive jurisdiction of the courts of Singapore, to the extent that none of the Terms and Conditions contradicts ICC Publications URDG458/758, ISP98, UCP600 or any updated version, which govern the documents presented under the Guarantee / SBLC.
By ticking on this box and by printing and submitting to you the Presentation of Demand and Documents under BG/SBLC through DBS application form which follows, we have read, understood and acknowledged the Terms and Conditions for the Presentation of Demand and Documents under BG/SBLC through DBS application form and fully authorize the Bank to proceed with the provision of the service. We also understand and agree that the Bank may modify the Terms and Conditions for Presentation of Demand and Documents under BG/SBLC through DBS Application Form without prior notice to us at any time.
We understand that we are required to be DBS Corporate Customers in order to be eligible for this collection service. We confirm that we are the beneficiary under the BG/SBLC issued by another bank and that the BG/SBLC states that we need to present the demand &/or documents through my banker. We understand that it is our sole responsibility to prepare the demand &/or documents and DBS will not be required to check the documents but to forward the documents according to our instructions in the application form.
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