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

Les 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

Department of Labor and Employment Security

Division of Workers' Compensation

Bureau of Operations Support

Self-Insurance Section

P. O. Box 5497

Tallahassee, Florida 32314-5497

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.

LES Form SI-6 (09/96)

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