Att 06 Format FIN INST ILC CONFIRM.pdf
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- Solicitation number
- 70LGLY21RSSB00009
About this file
This document provides the required format for a financial institution to confirm an irrevocable letter of credit for a federal construction project. The solicitation seeks HVAC repairs and replacement services for three buildings at the Federal Law Enforcement Training Center in Glynco, Georgia, with a construction value between $250,000 and $500,000. Interested offerors must attend a mandatory site visit on June 30, 2021 and submit any requests for information by July 7, 2021 to the contracting officer via email. The solicitation was issued by the Department of Homeland Security Federal Law Enforcement Training Center. The confirmation format includes sections for identifying the beneficiary, issuing institution, credit amount, expiration date, undertaking to honor drafts presented, automatic extension conditions, choice of law, and provisions for interruptions of the confirming institution's business.
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Text version
The following format shall be used by the financial institution to confirm an ILC:
[Confirming Financial Institution’s Letterhead or Name and Address]
(Date) _____________
Our Letter of Credit Advice Number _____________
Beneficiary: ___________ [U.S. Government agency]
Issuing Financial Institution: __________________
Issuing Financial Institution’s LC No.: ___________
Gentlemen:
1. We hereby confirm the above indicated Letter of Credit, the original of which is attached, issued by __________ [name of issuing financial institution] for drawings of up to United States dollars ___________/U.S. $_______ and expiring with our close of business on _____________ [the expiration date], or any automatically extended expiration date.
2. Draft(s) drawn under the Letter of Credit and this Confirmation are payable at our office located at ___________________.
3. We hereby undertake to honor sight draft(s) drawn under and presented with the Letter of Credit and this Confirmation at our offices as specified herein.
4. [This paragraph is omitted if used as a bid guarantee, and subsequent paragraphs are renumbered.] It is a condition of this confirmation that it be deemed automatically extended without amendment for one year from the expiration date hereof, or any automatically extended expiration date, unless:
(a) At least 60 days prior to any such expiration date, we shall notify the Contracting Officer, or the transferee and the issuing financial institution, by registered mail or other receipted means of delivery, that we elect not to consider this confirmation extended for any such additional period; or
(b) The issuing financial institution shall have exercised its right to notify you or the transferee, the account party, and ourselves, of its election not to extend the expiration date of the Letter of Credit.
ILC CONFIRMATION
REQUIRED FORMAT FOR FINANCIAL INSTITUTION TO CONFIRM AN
IRREVOCABLE LETTER OF CREDIT
(As stated in FAR 28.228-14 and prescribed in FAR 28.204-4) sbodford Typewritten Text sbodford Typewritten Text sbodford Typewritten Text sbodford Typewritten Text sbodford Typewritten Text
5. This confirmation is subject to the Uniform Customs and Practice (UCP) for Documentary Credits, 1993 Revision, International Chamber of Commerce Publication No. 500, and to the extent not inconsistent therewith, to the laws of ________ [state of confirming financial institution].
6. If this confirmation expires during an interruption of business of this financial institution as described in Article 17 of the UCP, we specifically agree to effect payment if this credit is drawn against within 30 days after the resumption of our business.
Sincerely, [Confirming financial institution]
ILC CONFIRMATION
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