Exhibit_D_Sample_25-R-1000-0001.pdf
PDF 154 KB Posted
- Solicitation number
- SPE60525R1000
- Issued by
-
Defense Logistics Agency Energy
About this file
This document is a sample Irrevocable Standby Letter of Credit template for the Defense Logistics Agency Energy's fuel oil reclamation sale solicitation (SPE605-25-R-1000). The letter of credit is designed to provide financial assurance for the government in case of contractor non-performance, specifically covering scenarios where the contractor either fails to pay for delivered products or does not take delivery of products as specified in the contract. The document outlines the conditions under which the letter of credit can be drawn, including a requirement for a manually signed statement from an authorized DLA Energy representative certifying either non-payment or failure to take delivery.
The template specifies that drafts can be made multiple times against the letter of credit and must be presented at the bank by the expiration date. It is subject to the Uniform Customs and Practice of Documentary Credits and the Uniform Commercial Code. The letter of credit will be honored upon proper presentation of the required documentation, providing a financial guarantee mechanism for the government in this fuel oil reclamation sale at Pearl Harbor, Hawaii.
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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-PEC
8725 JOHN J. KINGMAN RD STE 4950
FORT BELVOIR VA 22060-6220
EFFECTIVE DATE: _____________________________________
AMOUNT OF LETTER OF CREDIT: $_______________________
CONTRACTOR: ________________________________________
CONTRACT NUMBER: SP0605-25-R-1000-0001_________
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 .