Section_J_-_Atch_73-_Irrevocable_Ltr_of_Credit.pdf

REQUIRED FORMAT FOR IRREVOCABLE LETTER OF CREDIT

(As stated in FAR 52.228-14 and prescribed in FAR 28.204-4)

[Issuing Financial Institution’s Letterhead or Name and Address]

Issue Date ________________

IRREVOCABLE LETTER OF CREDIT NO. ________________

Account party’s name _____________________________________________________

Account party’s address _____________________________________________________

For Solicitation No. ___________________________ (For reference only)

TO: [U.S. Government Agency] [U.S. Government Agency’s address]

1. We hereby establish this irrevocable and transferable Letter of Credit in your favor for one or more drawings up to United States $__________________. This Letter of Credit is payable at [issuing financial institution’s and, if any, confirming financial institution’s] office at [issuing financial institution’s address and, if any, confirming financial institution’s address] and expires with our close of business on ________________, or any automatically extended expiration date.

2. We hereby undertake to honor your or the transferee’s sight draft(s) drawn on the issuing or, if any, the confirming financial institution, for all or any part of this credit if presented with this Letter of Credit and confirmation, if any, at the office specified in paragraph 1 of this Letter of Credit on or before the expiration date or any automatically extended expiration date.

3. [This paragraph is omitted if used as a bid guarantee, and subsequent paragraphs are renumbered.] It is a condition of this Letter of Credit that it is deemed to be automatically extended without amendment for one year from the expiration date hereof, or any future expiration date, unless at least 60 days prior to any expiration date, we notify you or the transferee by registered mail, or other receipted means of delivery, that we elect not to consider this Letter of Credit renewed for any such additional period. At the time we notify you, we also agree to notify the account party (and confirming financial institution, if any) by the same means of delivery.

4. This Letter of Credit is transferable. Transfers and assignments of proceeds are to be effected without charge to either the beneficiary or the transferee/assignee of proceeds. Such transfer or assignment shall be only at the written direction of the Government (the beneficiary) in a form satisfactory to the issuing financial institution and the confirming financial institution, if any.

5. This Letter of Credit is subject to the Uniform Customs and Practice (UCP) for Documentary Credits, 1993 Revision, International Chamber of Commerce Publication No. 500, and to the extent not inconsistent therewith, to the laws of ________________ [state of confirming financial institution, if any, otherwise state of issuing financial institution].

6. If this credit expires during an interruption of business of this financial institution as described in Article 17 of the UCP, the financial institution specifically agrees to effect payment if this credit is drawn against within 30 calendar days after the resumption of our business.

Sincerely, [Issuing financial institution] swatters Typewritten Text Atch 73 (Page 1 of 1) swatters Typewritten Text swatters Typewritten Text swatters Typewritten Text