Sample Acceptable Irrevocable Letter Of Credit Format printable pdf download

SAMPLE ACCEPTABLE IRREVOCABLE LETTER OF CREDIT FORMAT

(Note: LOC does not have to be in this exact format. Provided the LOC contains each of the following general

items, including automatic renewal and ability to make full and/or partial draws by fax or in person, the applicable

issuer’s “standard” form may be acceptable.

_____________________________________________________________________________________________

< DATE >

OUR L/C NO.: XXXX-XXXXXX

TO:

APPLICANT:

CITY OF LONE TREE

_____________________________

9220 KIMMER DRIVE, SUITE 100

_____________________________

Lone Tree, CO 80124

_____________________________

WE HAVE ESTABLISHED OUR IRREVOCABLE STANDBY LETTER OF CREDIT IN YOUR FAVOR

AS DETAILED HEREIN SUBJECT TO ISP98

DOCUMENTARY CREDIT NUMBER:

XXXX-XXXXXX

FURTHER IDENTIFICATION:

ISSUE

DATE OF ISSUE:

< DATE >

BENEFICIARY:

CITY OF LONE TREE

9220 KIMMER DRIVE, SUITE 100

LONE TREE, CO 80124

APPLICANT:

_____________________________

DATE AND PLACE OF EXPIRY:

_____________,___, 20___

AT OUR COUNTER

DOCUMENTARY CREDIT AMOUNT:

USD $_______________.___

AVAILABLE WITH:

_________________________ (name of bank)

_________________________ (bank address)

BY PAYMENT

IT IS A CONDITION OF THIS LETTER OF CREDIT THAT IT SHALL BE AUTOMATICALLY

EXTENDED WITHOUT AMENDMENT FOR ADDITIONAL 12 MONTH PERIODS FROM THE

PRESENT OR EACH FUTURE EXPIRATION DATE, UNLESS AT LEAST 90 DAYS PRIOR TO

THE CURRENT EXPIRY DATE WE NOTIFY YOU IN WRITING BY REGISTERED MAIL OR EXPRESS

COURIER AT THE ABOVE ADDRESS THAT WE ELECT NOT TO AUTOMATICALLY

EXTEND THIS LETTER OF CREDIT FOR ANY ADDITIONAL PERIOD. UPON SUCH NOTICE TO YOU,

YOU MAY DRAW ON US AT SIGHT FOR AN AMOUNT NOT TO EXCEED THE BALANCE REMAINING

IN THIS LETTER OF CREDIT WITHIN THE THEN-APPLICABLE EXPIRY DATE, BY YOUR SWIFT OR

PRESENTATION OF YOUR DRAFT AND DATED STATEMENT PURPORTEDLY SIGNED BY THE LONE

TREE CITY MANAGER OR ASSISTANT CITY MANAGER, READING AS FOLLOWS:

QUOTE

THE AMOUNT OF THIS DRAWING USD $______________ UNDER __<NAME OF BANK>_______,

LETTER OF CREDIT NUMBER XXXX-XXXXXX REPRESENTS FUNDS DUE US AS WE HAVE

RECEIVED NOTICE FROM __<NAME OF BANK>_______, OF THEIR DECISION NOT TO

AUTOMATICALLY EXTEND LETTER OF CREDIT NUMBER XXXX-XXXXXX AND THE

UNDERLYING OBLIGATION REMAINS OUTSTANDING.

UNQUOTE

Sample Acceptable Irrevocable Letter Of Credit Format

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