Exhibit D Irrevokable Standby Letter of Credit Sample.pdf
PDF 226 KB Posted
- Solicitation number
- SPE605-26-R-1006
- Issued by
-
Defense Logistics Agency Energy
About this file
This is a sample template for an Irrevocable Standby Letter of Credit required as financial security for a Defense Logistics Agency Energy (DLA Energy) direct delivery fuels contract. The letter of credit is issued by a bank on behalf of a contractor and made payable to the DLA Energy Ground Fuels Division IV Contracting Officer at Fort Belvoir, Virginia. The template allows for variable fill-in fields including effective date, credit amount, contractor name, contract number (SPE605 series), and letter of credit number.
The standby letter of credit is triggered upon presentation of a manually signed statement from an authorized DLA representative certifying either that the Government has delivered fuel product under the contract terms and the contractor has failed to pay the owed amount, or that the contractor has failed to take delivery of ordered product and owes the Government specified funds. The letter of credit permits multiple government drafts presented at sight on or before the stated expiration date. The instrument is governed by the Uniform Customs and Practice of Documentary Credits (2007 Revision, ICC Publication 600) and the Uniform Commercial Code of the state where the issuing bank's U.S. head office is located. This is a template document with variable terms that may be adjusted based on specific contract requirements.
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Text version
SAMPLE – IRREVOCABLE STANDBY LETTER OF CREDIT
EXHIBIT D
(NOTE: FORM MAY VARY, SUBSTANCE MAY NOT)
BANK LETTERHEAD
IRREVOCABLE STANDBY LETTER OF CREDIT
TO: ATTN: GROUND FUELS DIVISION IV, DIRECT DELIVERY FUELS, CONTRACTING OFFICER
Defense Logistics Agency Energy-FEPDB
8725 JOHN J. KINGMAN RD STE 4950
FORT BELVOIR VA 22060-6220
EFFECTIVE DATE: _____________________________________
AMOUNT OF LETTER OF CREDIT: $_______________________
CONTRACTOR: ________________________________________
CONTRACT NUMBER: SPE605-_________________
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 SPE605- ______________ 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 SPE605- __________, 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 (2007 Revision, International Chamber of Commerce Publication No. 600) 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)
FPE1435
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BANK LETTERHEAD
File details come from the government source that posted it. Updated .