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Sample Partial
Preview Of The Letter Of Credit
IRREVOCABLE
STANDBY
LETTER OF
CREDIT
Date: _________________________
Irrevocable Standby Letter of
Credit No.: ________________
Lender Name
Lender Address
Lender City, State, Zip
Dear Sir or Madam:
We hereby establish our Irrevocable Standby Letter of Credit No. [insert number] in
favor of (Company Name), at the request and for the account of
[insert owner's or operator's name and address] up to the aggregate
amount of $ [insert dollar amount], [insert spell out dollar
amount] in United States dollars, available upon presentation
of:
1.
Your sight draft[s] on us bearing reference to this Irrevocable
Standby Letter of Credit No.
[insert number], and
2.
Your signed and dated statement reading as
follows:
"We certify that the amount of our draft drawn under [insert
name of issuing institution] Irrevocable Standby Letter of Credit No. [insert number] is
payable upon demand.
Each draft must be marked "Drawn under [insert name of issuing
institution] Irrevocable Standby Letter of
Credit No. [insert number] dated [insert date]". Each
draft must also be accompanied by the original of this Irrevocable
Standby Letter of Credit upon which
we may endorse our payment. This Irrevocable Standby Letter of Credit is effective as of
[insert date] and shall expire on [insert date at least one year
from effective date], but such expiration date shall be
automatically extended for a period of at least [insert at least
one year] on [insert date] and on each successive expiration date,
unless at least 120 days before the current expiration date, we
notify both you and [insert owner or operator name] by certified
mail that we have decided not to extend this Irrevocable Standby
Letter of Credit beyond the
current expiration date. In the event you are so notified, any
unused portion of the credit shall be available upon presentation
of your sight draft
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