A standby letter of credit ("Standby") is an irrevocable, binding undertaking by an Issuer (generally, a bank), made at the request of an Applicant (generally, a bank's customer), for the benefit of a Beneficiary, to ensure payment or performance of an underlying obligation. Its commercial value lies in its being totally independent of any agreement between the Beneficiary and the Applicant or the Applicant and the Issuer. Once issued, the issuer must honor the terms of the standby if the beneficiary presents documents, such as a draft (bill of exchange) or written demand for payment, that strictly comply with the terms of the standby letter of credit. Standbys are most frequently issued in the United States and until relatively recently, were less commonly used in the UK and Europe, where bank guarantees were more likely to be used to achieve similar purposes. In fact, because certain American banks were prohibited from issuing guarantees, standby letters of credit were developed as a substitute and became the primary means by which American banks ensured payment or performance. Typically, a standby is used to ensure payment of an obligation (such as a contract or lease calling for payment at a future time) or performance of an obligation (such as completion of a construction project). In the case of the performance standby, the beneficiary would seek to provide sufficient funds to enable another contractor to complete the project. Demand guarantees issued by banks or performance bonds issued by insurance companies would provide similar assurances. As standbys are often used internationally, a body of international custom and practice has developed to promote uniformity in handling standbys. It is embodied in the Uniform Customs and Practice for Documentary Credits (International Chamber of Commerce Publication 500) ("UCP"), which covers commercial letters of credit as well as standbys, and the International Standby Practices ("ISP"), which covers only standbys and was developed by the International Financial Services Association. Although proceeds of a standby may be assigned, the standby itself is usually not transferable unless the standby so provides. If the standby provides that it is transferable, the UCP and ISP differ on the consequences. Under UCP Art. 48(b), it may be transferred only once. Under ISP Rule 6.02, however, it may be transferred more than once, but the issuer must agree to the transfer requested by the beneficiary. In either case, the restrictions would effectively destroy the ability to trade the instrument quickly. === ===
A MT700 is the SWIFT format for a Documentary Letter of Credit, but it is also possible to issue a Standby Letter of Credit using the same SWIFT message type.
Log shipping is one of the failover solutions offered by SQL Server 2000. In this context, failovermeans substituting primary server with a backup (sometimes also referred to as standby) server if the primary hardware becomes unusable. Failover solutions can also be used to provide close to 100% uptime-during primary database or server maintenance and during software upgrades you could use the standby server to continue serving your customers. Failover solutions can be automatic or manual. With automatic failover, the backup server detects when the primary server is not available and takes over without any intervention from the database administrator. An example of an automatic failover solution is clustering. With manual failover, the database administrator (DBA) has to perform some steps to bring the standby server online. In SQL Server 2000, log shipping is a form of manual failover.
MT798 is an authenticated message that is used by Corporates in lieu of the MT 760 to send financial instruments such as Safekeeping Receipts, Import Letters of Credit, Export Letters of Credit and Standby Letters of Credit to member Banks of the SWIFT system. Thank you K.O/Accra-Ghana
The disadvantages of a machine made by the Xerox Corporation, as compared to the similar products of other companies, relate mostly to style and comparison. They would be true for some users but not all, and would often be a matter of opinion.The following might be considered to be disadvantages of any photocopy machine, no matter who made it:It is so easy to make copies that unnecessary copies are often made, wasting paper and power.They require electrical power to operate or to keep ready in the standby mode, while making a copy by hand requires only sunlight, paper and a dry place to copy.
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The difference b/w the prime generator & standby generator is that the prime generator is used for 24/7/365, while the standby generators are only used in emergency cases, if we used standby generators for more than 24 hours continuously, then it will be overheated for sure.
Standby effectivly shuts most of the computer down, but leaves it running (but you can't use it) Log off is closing your computer account, allowing others to use their accounts to access their data
Restarting means the computer will power down, turn off, and start up again. Standby means it saves your current windows you have opened to its hard drive and turns off. Then when you turn it on again it starts up faster and all your progress is saved.
The Standby letter of credit serves as a secondary payment mechanism. A bank will issue a standby letter of credit on behalf of a customer to provide assurance of his ability to perform under the terms of a contract between the beneficiary
A standby home generator can make the difference between being able to stay in your home during a power outage and having to evacuate. Your generator does more for you than to just keep your lights on. The right sized generator can keep your heating and cooling systems running. A standby generator can provide power for sump pumps when the storm that knocked out the electricity also brings flood waters into your home.
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StandBy Records was created in 2007.
Standby phase is in a yugioh duel after draw phase,you could use card effect at standby phase.
The plural form of the noun 'standby' is standbys.
Homedepot.com is an excellent place to buy standby generators online, and because it is from Home Depot, support can be easily obtained. standby .com is having a huge discount on standby generators right now.