Irrevocable Letter Of Credit Template printable pdf download

(Must Be on Letterhead of Bank)

CLEAN IRREVOCABLE LETTER OF CREDIT NO. ________________

Date: _____________________

American Contractors Indemnity Company

and/or U. S. Specialty Insurance Company

HCC Surety Group

601 S Figueroa, Suite 1600

Los Angeles, CA 90017

Ladies and Gentlemen:

At the request of _______________________________________________ (account name arranging

credit) (the “Applicant”), we hereby open our CLEAN IRREVOCABLE LETTER OF CREDIT in your

favor

aggregate

______________________________

(amount)

U.S.

Dollars

(US$___________________)

available

for

payment

sight

your

drafts

____________________________________________________ (name and address of bank) on or before

the expiration date or on or before any automatically extended date as set forth below. Our obligation

under this Letter of Credit is our individual obligation, in no way contingent upon reimbursement with

respect thereto, or upon our ability to perfect any lien or security interest. Partial drawings are permitted.

All banking charges, including any advising bank charges, are for the account of the Applicant.

This CLEAN IRREVOCABLE LETTER OF CREDIT expires on __________________ (expiration date)

but will be automatically extended for additional consecutive one-year terms unless you and IndemCo

L.P. each have received by Registered Mail notification of our intention not to renew 45 days prior to the

original expiry date and each subsequent expiry date. Such notification shall be to the attention of the

President at the above address and also to IndemCo L.P. at 777 Post Oak Boulevard, Suite 330, Houston,

Texas 77056 or to such other address as the intended recipient may have notified us in writing by

Registered Mail to our address above at least ten days before our transmittal of notification to you and to

IndemCo L.P.

We hereby engage with you and each drawer, endorser and bona fide holder of any draft drawn under and

in compliance with the terms of this CLEAN IRREVOCABLE LETTER OF CREDIT that such draft will

be duly honored upon presentation as specified herein. This CLEAN IRREVOCABLE LETTER OF

CREDIT sets forth in full the terms of our undertaking, and such undertaking shall not be modified,

amended or amplified by reference to any document in which this CLEAN IRREVOCABLE LETTER

OF CREDIT is referred to or to which this CLEAN IRREVOCABLE LETTER OF CREDIT relates and

any such reference shall not be deemed to incorporate herein by reference any document, instrument or

agreement.

THIS CLEAN IRREVOCABLE LETTER OF CREDIT IS SUBJECT TO THE UNIFORM CUSTOMS

AND PRACTICE FOR DOCUMENTARY CREDIT (2007 REVISION) INTERNATIONAL

CHAMBER OF COMMERCE PUBLICATION NO. 600; provided, however, that notwithstanding

Article 36 of such publication, if this CLEAN IRREVOCABLE LETTER OF CREDIT expires while we

are closed as a result of a cause beyond our control, we will honor a presentation under this CLEAN

IRREVOCABLE LETTER OF CREDIT when such honor would otherwise be due provided that the

presentation is made within 30 days following the resumption of our business.

______________________________

(Authorized Signature)

____________________________________

(Title)

(Copy of Resolution and/or Board Minutes authorizing signatory is to be attached.)

Irrevocable Letter Of Credit Template

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