Attachment_A_-_Letter_of_Credit.doc

ATTACHMENT A

__________ [name of the bank]

IRREVOCABLE STANDBY LETTER OF CREDIT

NO. _____

To:

City of Phoenix – Beneficiary

Aviation Department

Contract & Compliance Services Division

2485 East Buckeye Road

Phoenix, Arizona 85034-4301

Attn: Deputy Aviation Director Applicant:

__________ [Contractor Full Legal Name] Amount:

$_________ [Insert dollar amount] Expiration Date:

__________ [Insert date] __________ [name of the bank] (Bank) hereby establishes its Irrevocable Standby Letter of Credit No. __________ (Letter of Credit) in favor of the City of Phoenix, Beneficiary under this Letter of Credit. The City of Phoenix may draw on this Letter of Credit at the Bank’s office located at __________ [insert address of the Phoenix office(s)], accompanied by the following documents:

1.

A certificate signed by the Director of the City of Phoenix Aviation Department, or his designee, stating one or more of the following:

A.

The City of Phoenix is drawing against this Letter of Credit because __________ [Contractor Full Legal Name] has failed to perform its obligations under or failed to comply with its __________ [insert name of Contract and number of Letter of Credit], or any amendment thereto, or any replacement agreement, and the City of Phoenix requires payment under the Letter of Credit in the amount of $__________.

B.

The City of Phoenix is drawing against this Letter of Credit because __________ [Contractor Full Legal Name] has failed to provide a replacement irrevocable standby letter of credit prior to sixty (60) days before the expiration date of this Letter of Credit as required by its __________ [insert name of Contract], or any amendments thereto, or any replacement agreement, and the City of Phoenix requires payment under this Letter of Credit in the amount of $__________.

C.

The City of Phoenix is drawing against this Letter of Credit because the City has received notice from __________ [insert name of the bank] that this Letter of Credit will not be extended and the City requires payment under this Letter of Credit in the amount of $__________.

2. This original Letter of Credit.

The Director’s Certificate and the original Letter of Credit may be sent to the Bank by first-class mail through the United States Postal Service, prepaid delivery by a commercial air courier or express delivery service, or by hand-delivery to our office listed above. Alternatively, copies of the Director’s Certificate and the original Letter of Credit may be sent by facsimile transmittal (FAX) to __________ [insert fax number] or by email to __________ [insert email address]. The City of Phoenix may confirm the Bank’s receipt of a FAX or email drawing by calling the Bank at __________ [insert the bank’s telephone number].

If the City of Phoenix presents an improper drawing, the Bank will notify the City in writing sent by a commercial overnight courier service or by FAX to 602-273-4083 that the drawing was not made according to the terms and conditions of this Letter of Credit. The notice shall state the reason(s) why the Bank believes the drawing is improper and that the Bank is awaiting a corrected drawing.

Partial drawings and multiple drawings are permitted under this Letter of Credit.

This Letter of Credit will automatically be renewed for a one (1) year from the Expiration Date set forth above and upon each anniversary of the Expiration Date, unless, at least sixty (60) days prior to the Expiration Date or prior to any anniversary thereof, the Bank notifies the City of Phoenix and __________ [Contractor Full Legal Name] in writing by certified or registered mail or delivery by a commercial overnight courier service that the Bank elects not to renew this Letter of Credit.

The Bank hereby agrees that this Letter of Credit shall be duly honored upon receipt of the Director’s Certificate and original Letter of Credit as provided above.

This Letter of Credit is subject to the International Standby Practices (ISP98) endorsed by the International Chamber of Commerce Publication No. 590. Matters not governed by ISP98 shall be governed by and construed in accordance with the laws of the State of Arizona.

__________ [name of the bank]

__________ [address of the bank] By:__________ [signature of authorized agent]

__________ [type name of authorized agent] Date:____________________

2460989 Revised 9/25/2024 Exhibit “ ”, Page 1