Exhibit_D_Sample_Letter of Credit.pdf
PDF 153 KB Posted
- Solicitation number
- SP0605-26-R-1002
- Issued by
-
Defense Logistics Agency Energy
About this file
This document is a sample template for an Irrevocable Standby Letter of Credit required under federal contract SP0605-26-R-1002, issued by the Defense Logistics Agency Energy on behalf of the Ground Fuels Division I, Direct Delivery Fuels program. The letter of credit serves as a financial security instrument, payable to the Defense Energy Support Center at Fort Belvoir, Virginia, and is subject to the Uniform Customs and Practice of Documentary Credits (2007 revision).
The template establishes the mechanism for the Government to draw funds against the letter of credit through sight drafts presented at the issuing bank, with multiple draws permitted prior to the expiration date. Draws may be made if the contractor fails to pay for delivered fuel products under contract terms or fails to take delivery of ordered products, as certified by an authorized Government representative. The letter of credit remains irrevocable and binding on the issuing bank upon presentation of compliant documentation, governed by the Uniform Commercial Code of the state where the bank's U.S. head office is located. Contractors must complete specified fields including effective date, credit amount, contractor name, contract number, letter of credit number, and expiration date. This is a template document with variable form elements; the substantive requirements may not be modified.
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Text version
SAMPLE – IRREVOCABLE STANDBY LETTER OF CREDIT
SP0605-26-R-1002 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-FEPAA
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 Energy Support Center”, 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 (July 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)
BANK LETTERHEAD
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