For the purpose of identification, the request for payment and the statement have to be presented through the intermediary of a first rate bank confirming that the signatures of the Beneficiary on documents are authorized signatures of the Beneficiary which have been registered with the bank and such request and statement will be binding on the Beneficiary.This Standby letter of credit is valid from the date of issuance until 30/03/2016(the "Validity period")With each payment under this Standby letter of credit, our obligation will be reduced pro rât provided that any cumulative amount drawn will not exceed the maximum aggregate amount of 100,000.00 USDAll banking charges and commissions inside Vietnam are to be borne by the Applicant.
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