Exhibit_D_Sample_Letter of Credit_26-R-1000.pdf
PDF 154 KB Posted
- Solicitation number
- SPE605-26-R-1000
- Issued by
-
Defense Logistics Agency Energy
About this file
This document is a sample template for an Irrevocable Standby Letter of Credit required under contract SP0605-26-R-1000 with the Defense Logistics Agency Energy (DLA Energy). The letter of credit is issued by a bank on behalf of a contractor to the DLA Energy Contracting Officer at Fort Belvoir, Virginia, and serves as a financial guarantee instrument.
The standby letter of credit is available by draft at sight and may be drawn by the Government in two scenarios: (1) when the Government has delivered product under the contract terms but the contractor has failed to pay the owed amount, or (2) when the contractor has failed to take delivery of product as required. The Government may make multiple draws against the letter of credit, provided drafts are presented by the expiration date specified in the letter. The instrument is governed by the Uniform Customs and Practice of Documentary Credits (1993 Revision, ICC Publication No. 500) and the Uniform Commercial Code of the state where the issuing bank's head office is located. The template requires completion of the effective date, letter of credit amount, contractor name, and expiration date, and must be signed by an authorized bank representative.
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Text version
SAMPLE – IRREVOCABLE STANDBY LETTER OF CREDIT
SP0605-26-R-1000 EXHIBIT D
(NOTE: FORM MY VARY, SUBSTANCE MAY NOT)
BANK LETTERHEAD
IRREVOCABLE STANDBY LETTER OF CREDIT
TO: ATTN: GROUND FUELS DIVISION I, DIRECT DELIVERY FUELS, CONTRACTING OFFICER
Defense Logistics Agency Energy-PEC
8725 JOHN J. KINGMAN RD STE 4950
FORT BELVOIR VA 22060-6220
EFFECTIVE DATE: _____________________________________
AMOUNT OF LETTER OF CREDIT: $_______________________
CONTRACTOR: ________________________________________
CONTRACT NUMBER: SP0605-26-R-1000_________
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 Energy”, 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 SP0605-______________ 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)
BANK LETTERHEAD
File details come from the government source that posted it. Updated .