Exhibit D - Irrevocable Standby Letter of Credit.pdf
PDF 237 KB Posted
- Attached to
- Sale of JAA Fuel at Eglin AFB, FL
- Solicitation number
- SPE602-25-R-0701
- Issued by
-
Defense Logistics Agency Energy
About this file
This document is a Sample Irrevocable Standby Letter of Credit template for a federal contract with the Defense Logistics Agency Energy (DLA Energy). The letter of credit is designed to be issued by a bank in favor of the DLA Energy, located at 8725 John J. Kingman Rd in Fort Belvoir, VA. It provides a financial mechanism for the government to draw funds if a contractor fails to fulfill contract obligations, specifically related to product delivery or payment.
The template includes two specific scenarios for potential drafts: (1) when the United States Government has delivered a product under contract and the contractor has not paid, or (2) when the contractor has failed to take delivery of a product under the contract terms. The letter of credit is subject to the Uniform Customs and Practice of Documentary Credits and the Uniform Commercial Code. Drafts can be made multiple times and must be presented at the bank before the specified expiration date, accompanied by a manually signed statement from an authorized DLA Energy representative.
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Text version
SAMPLE – IRREVOCABLE STANDBY LETTER OF CREDIT
(NOTE: FORM MY VARY, SUBSTANCE MAY NOT)
BANK LETTERHEAD
IRREVOCABLE STANDBY LETTER OF CREDIT
TO: ATTN: PACIFIC AND MIDDLE EAST, BULK FUELS, CONTRACTING OFFICER
Defense Logistics Agency Energy - FEBC
8725 JOHN J. KINGMAN RD STE 4950
FORT BELVOIR VA 22060-6220
EFFECTIVE DATE:
AMOUNT OF LETTER OF CREDIT: $
CONTRACTOR:
CONTRACT NUMBER: SPE602-
LETTER OF CREDIT NUMBER:
To Whom It May Concern:
We hereby establish our “Irrevocable Standby Letter of Credit” in your favor, available by your draft/s at sight, drawn on (Name of Bank issuing this Standby letter of Credit) accompanied by a manually signed statement that the signer is “an authorized representative of the Defense Logistics Agency”, and one or both of the following statements:
a. “I hereby certify that the United States Government has delivered product under the terms of Contract Number SPE602- and that (Contractor) has not paid under the terms of that contract, and as a result owes the Government $ .”
b. “I hereby certify that (Contractor) has failed to take delivery of product under the terms of Contract Number SP0600- , and as a result owes the Government $ .”
Drafts must be presented for negotiations on or before the expiration date of this Letter of Credit, (Expiration Date), at our bank.
The Government may make multiple drafts against this Letter of Credit.
This Letter of Credit is subject to the Uniform Customs and Practice of Documentary Credits (1993 Revision, International Chamber of Commerce Publication No. 500) and except as may be inconsistent therewith, to the Uniform Commercial Code in effect on the date of issuance of this Letter of Credit in the state in which the issuer’s head office within the United States is located.
We hereby agree with the drawers, endorsers and bona fide holders that all drafts drawn under and in compliance with the terms of this Letter of Credit will be duly honored upon presentation and delivery of the above documents for negotiation at our bank on or before the expiration date.
Very truly yours, (Authorized Signature)
(Typed Name and Title)
EXHIBIT D
File details come from the government source that posted it. Updated .