Partial and multiple draws are permitted under this Standby and with each such draw, the Bank will, concurrently, with the payment requested by ITS, note on this Standby the amount of such draw, and this Standby with such annotation thereon shall be returned afterwards to ITS except if the draw is effected by facsimile as described below.
All correspondence and/or drawing documents shall be presented to the Bank at (address) between 08:30 and 17:00 (local time) on or before the Expiry Date and shall refer to its Standby No._______________ If drawing documents are presented by facsimile, the Bank shall solely consider and examine the drawing documents so transmitted. ITS is not to further present any original drawing document. Payment shall be made in Canadian currency by wire transfer to the account designated for such purpose by ITS in its demand for payment.
This Standby is not transferable. ITS may not assign all or part of the proceeds of any draws hereunder without the prior consent of the Bank.
Any disputes related to this Standby will be decided in accordance with the laws of the Province of _____________ This Standby is subject to the "International Standby Practices ISP98" (1 January 1999) of the International Chamber of Commerce, Publication Number 590 (the "Publication") and for all issues not covered by the Publication, the laws applicable in the Province of _____________ shall apply. In case of conflict, the Publication shall prevail. The courts of the Province of shall have exclusive _______________ jurisdiction over any dispute arising from this Standby.