At the request of……………. (hereinafter referred to as “The Applicant”, we, (Name of issuing Bank), hereby issue our Irrevocable Standby Letter of Credit No……………..in your favour for the amount totally USD………………which includes the principal amount and the accrued interest which are or may become payable to you by………………. (hereinafter referred to as “The Borrower”) under the loan agreement between you and the borrower.