Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
1. The documents and the goods and all proceeds of sale and of
insurance, and all your rights as unpaid sellers, shall be pledged
to the Bank and be security to the Bank for all obligations and
liabilities incurred by it or its correspondents in connection with
the Letter of Credit (the "Credit") and for all disbursements in
connection with the goods (which you hereby authorise the Bank
to pay for your account) and, to the fullest extent permitted by
law, all your other liabilities to the Bank present and future.
2. You will keep the goods fully insured and in the event of your failing
to do so the Bank may (but shall not be obliged to) insure the goods
at its discretion and at your expense, and the Bank may debit your
account with the cost of so doing.
3. The Bank may on payment debit your account with all sums paid in
connection with the Credit or the goods and any commission and
interest or at any time if it thinks fit with the whole or part of the
amount of the Credit. You will place the Bank in funds on demand to
meet such debits and at the latest three days before the due date
(or earlier if required by the Bank) to meet any acceptances or
deferred payment undertakings.
5. In the event of default the Bank may at any time (whether before or
after arrival) sell the documents or goods and it may debit your
account with any shortfall.
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 Credit unless directly due to its negligence or default.
6. The Bank's rights against you shall not be affected by, and the Bank
and/or its correspondents shall not be responsible for any loss or
damage to the goods however or whenever caused, their quantity,
quality or condition or their detention by any person for whatever
reason, the loss, validity, sufficiency, genuineness or accuracy of
the shipping, insurance or any other documents or failure for any
reason by the Bank, its correspondents or any other person to
store, protect or insure the goods, and all acts and omissions of the
drawers and/or vendors and/or the Bank's correspondents and/or
any other person shall be at your risk.
8. You will sign or execute and deliver any transfer, deed or other
document which the Bank may reasonably require from you to
obtain possession of or perfect its title to the goods and/or to deliver
the goods or vest the goods in any purchaser(s) from the Bank, or
otherwise for the recovery of any proceeds of sale or insurance.
11. If two or more parties sign this document the obligations hereunder
are joint and several.
13. The Credit is to be subject to the "Uniform Customs and Practice for
Documentary Credits", 2007 Revision, International Chamber of
Commerce Publication No. 600 and Reimbursement Authorities
issued, if any, will be subject to the "Uniform Rules for Bank-to-Bank
Reimbursements under Documentary Credits", International
Chamber of Commerce Publication No. 525.
14. Bank
15.2 The parties agree that the Bank may, upon giving 30 days'
prior notice to you (which the parties hereby acknowledge will be
(and will be deemed to be) properly given, if the Bank places the
notice on the website through which you access your account or by
any other means that the Bank deems appropriate), elect that these
terms and conditions and all matters arising out of or in connection
with these terms and conditions shall, from the date of these terms
and conditions, be subject to the laws of any one of the following
countries: Kingdom of Saudi Arabia, State of Qatar, Sultanate of
Oman, State of Kuwait, Kingdom of Bahrain or a jurisdiction which
is in some way connected to the subject matter of these terms and
conditions ("Nominated Jurisdiction") and/or that the courts of a
Nominated Jurisdiction will have jurisdiction over these terms and
conditions and all matters arising out of or in connection with these
terms and conditions.
16. Severance
16.2 If any term of these terms and conditions that the Bank
considers to be material is deemed to be illegal, invalid or
unenforceable, then the parties shall co-operate with each other to
incorporate a term into these terms and conditions that complies
with the applicable law and as far as possible achieves the same
purpose as the aforementioned illegal, invalid or unenforceable
term.
You shall do and procure the doing of all things that the Bank
considers necessary to give full effect to the provisions of these
terms and conditions, including without limitation to the generality of
the foregoing, executing all security and other documents requested
to be executed by the Bank from time to time transferring
possession of title and other documents to the Bank, assisting to
register and uphold the Bank's interests and rights in and to all
goods, documents and things over which security is taken or
purported to be taken by the Bank from time to time and execute
and return all amended versions of these terms and conditions to
the Bank as requested by the Bank.