Exhibit_D_Sample_Letter of Credit.pdf
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- Solicitation number
- SP0605-25-R-1000
- 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. The template is designed for a bank to issue a letter of credit in favor of the government, specifically the Ground Fuels Division, located at 8725 John J. Kingman Rd in Fort Belvoir, VA. The letter of credit allows the government to draw funds if the contractor fails to meet specific contract obligations, such as not paying for delivered products or not taking delivery of contracted products. The document includes provisions for multiple draft submissions and is subject to the Uniform Customs and Practice of Documentary Credits and the Uniform Commercial Code.
The template is part of Exhibit D for Solicitation Number SP0605-25-R-1000, which is related to a sale of approximately 25,000 barrels (1,050,000 USG) of Fuel Oil Reclaimed (FOR) at DFSP Craney Island in Portsmouth, VA. The required pick-up date is 20 June 2025, and potential bidders must submit their quotes by 3:00 PM EST on Friday, 06 June 2025, to John Gable via email. The solicitation includes multiple exhibits covering the sale contract, product specifications, material safety data sheets, and this sample letter of credit.
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Text version
SAMPLE – IRREVOCABLE STANDBY LETTER OF CREDIT
SP0605-25-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-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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