Les Form Si-6 - Sample Self-Insurers Irrevocable Letter Of Credit

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SAMPLE SELF-INSURERS IRREVOCABLE LETTER OF CREDIT
IRREVOCABLE LETTER OF CREDIT NO.____________________
State of Florida
Department of Labor and Employment Security
Division of Workers' Compensation
Bureau of Operations Support
Self-Insurance Section
P. O. Box 5497
Tallahassee, Florida 32314-5497
Dear Sirs:
We hereby establish this Irrevocable Letter of Credit solely in your favor for
drawing up to U.S. $___________________________effective immediately.
This
Irrevocable Letter of Credit is issued, presentable and payable at our office at
_____________________________________________________________________,
and expires with our close of business on ___________________________________.
We hereby undertake to promptly honor your sight drafts(s) drawn on us
indicating our Letter of Credit No. __________________ for all or any part of this Letter
of Credit if presented at:
_____________________________________________________________________
_____________________________________________________________________,
on or before the expiration date or any automatically extended date. All sight drafts for
all or any part of this letter of credit shall be promptly honored without any further
condition, and no documentation other than such sight drafts(s) shall be required as a
condition of honor.
Except as stated herein, this understanding is not subject to any agreement,
condition or qualification. The obligation of the Bank under this Letter of Credit shall be
the individual obligation of the Bank, and is no way contingent upon reimbursement
with respect thereto.
It is a condition of this Letter of Credit that it shall be deemed automatically
extended without amendment for one year from the expiration date hereof, and all
future expiration dates, unless ninety (90) days prior to any expiration date, we notify
you by Certified Mail, return receipt requested, that we elect not to consider this Letter
of Credit renewed for any such additional period.
LES Form SI-6 (09/96)
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