ATT10-Ex Letter of Credit.pdf

This document is an example template for an Irrevocable Letter of Credit for use with the South Carolina Department of Transportation (SCDOT). The letter establishes the terms for a financial instrument that allows SCDOT to draw funds in the event of a contractor default, with the beneficiary being SCDOT at 955 Park Street, Columbia, SC 29201. The letter of credit automatically extends for one-year periods unless written notice is provided at least 60 calendar days prior to expiration. Drafts must be presented within three banking days of receipt and must include specific documentation including a beneficiary's signed statement indicating a contract default has occurred.

The letter includes provisions for partial and multiple drawings which reduce the available credit amount accordingly. The document can be reduced by amendment if requested by the Proposer and agreed to by SCDOT. The template includes spaces for required information such as the letter of credit number, dollar amount, issuing bank details, proposer information, expiration dates, and signature blocks for bank officials. This appears to be Attachment 10 of a larger contract package related to NEVI (National Electric Vehicle Infrastructure) infrastructure in South Carolina.