Attachment D - Irrevocable Letter of Credit Sample~14.pdf
PDF 100 KB Posted
- Attached to
- 24AL2473 Burning Star S. F. W. A. Farm Lease
- Solicitation number
- 24-422DNR-REALT-B-39071
- Issued by
- Jackson County, Illinois
About this file
This document is an Irrevocable Letter of Credit sample provided as an attachment to an Invitation for Bid (IFB) issued by the Illinois Department of Natural Resources for agricultural farming services on state-owned property in the Burning Star State Fish and Wildlife Area located in Jackson County, Illinois. The letter of credit establishes an irrevocable line of credit to cover the 2024 cash rent and estimated 2024 real estate taxes due and payable in 2025. The total value of the letter of credit is for the cash rent amount and an estimated amount for the taxes, with expiration dates of December 31, 2024 and February 15, 2026, respectively.
The IFB requests bids for agricultural farming services on the state-owned property. While not explicitly stated, the letter of credit suggests the selected contractor may be required to provide a form of financial assurance or guarantee as part of the contract requirements. The IFB does not provide any details on pricing terms, set-asides, incumbent contractors, funding sources, or other salient commercial information.
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Text version
Attachment D Irrevocable Letter of Credit “Sample”
State of Illinois IFB Contract: Rate of Chemical and Fertilizer Forms V.23.4
State of Illinois Department of Natural Resources Office of Realty & Capital Planning/Concession & Leasing One Natural Resources Way Springfield, IL 62702
RE: Irrevocable Letter of Credit Number:
Date:
Expiration Date:
Gentlemen:
We hereby establish in your favor our Irrevocable Letter of Credit No. for the following specific payment:
1. The sum of \ cash rent.
2. Up to the sum of for Real Estate Taxes, penalties and interest.
We hereby authorize you to draw on us for the account of up to an amount of with an expiration date of December 31, 2024, for the 2024 CASH RENT and an estimated amount of with an expiration date of February 15, 2026 for the 2024 REAL ESTATE TAXES due and payable in 2025.
Available by your draft(s) at sight accompanied by the following documents:
1. Your signed statement certifying "The amount drawn represents sums owed by
2. Draft(s) drawn under this credit must be marked:
Drawn under the Bank Letter of Credit No. dated , 202 .
We hereby agree with you that all draft(s) drawn under and in compliance with the terms of this credit will be duly honored on delivery of documents as specified if presented at this office on or before December 31, 2024, for the 2024 CASH RENT and payments on or before February 15, 2026 for the 2024 REAL ESTATE TAXES due and payable in 2025.
Sincerely,
| Items that Qualify and Explanation: Click here to enter text |
| ACCEPTABLE SERVICES IN LIEU OF CASH PAYMENTS |
File details come from the government source that posted it. Updated .