Form Si-6 - Sample Self-Insurers Irrevocable Letter Of Credit printable pdf download

Form Si-6 - Sample Self-Insurers Irrevocable Letter Of Credit

SAMPLE SELF-INSURERS IRREVOCABLE LETTER OF CREDIT

IRREVOCABLE LETTER OF CREDIT NO.____________________

State of Florida

Division of Workers' Compensation

Bureau of Monitoring and Audit

Self-Insurance Section

200 East Gaines Street

Tallahassee, Florida 32399-4224

Dear Sirs:

We hereby establish this Irrevocable Letter of Credit solely in your favor for drawing up to U.S.

$___________________________effective immediately. This Irrevocable Letter of Credit is issued,

presentable and payable at our office at_________________________________

____________________________________________________, and expires with our close of

business on ______________________.

We hereby undertake to promptly honor your sight drafts(s) drawn on us indicating our Letter

of Credit No. __________________for all or any part of this Letter of Credit if presented at:

_____________________________________________________________________________

_____________________________________________________________________________,

on or before the expiration date or any automatically extended date. All sight drafts for all or any part

of this letter of credit shall be promptly honored without any further condition, and no documentation

other than such sight drafts(s) shall be required as a condition of honor.

Except as stated herein, this understanding is not subject to any agreement, condition or

qualification. The obligation of the Bank under this Letter of Credit shall be the individual obligation of

the Bank, and is no way contingent upon reimbursement with respect thereto.

It is a condition of this Letter of Credit that it shall be deemed automatically extended without

amendment for one year from the expiration date hereof, and all future expiration dates, unless ninety

(90) days prior to any expiration date, we notify you by Certified Mail, return receipt requested, that we

elect not to consider this Letter of Credit renewed for any such additional period.

Form SI-6 (9/96)

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Form Si-6 - Sample Self-Insurers Irrevocable Letter Of Credit