Irrevocable Standby Letter Of Credit Template (Page 2 of 2) in pdf

Irrevocable Standby Letter Of Credit Template Page 2

c. The amount required satisfying or remedying, in whole or in part, the Applicant’s

obligation, non-compliance or violation of Chapter 23.

Multiple drawings are permitted under this Letter of Credit. Demand for payment hereunder

honored by us shall not exceed the Stated Amount. This Letter of Credit is non-transferable.

This Letter of Credit sets forth in full the terms of our undertaking. This undertaking shall

not in any way be modified, amended, amplified or incorporated by reference to any document or

contract referred to herein.

It is a condition of this Letter of Credit that it shall be deemed automatically extended

without written amendment for one year from the present or any future expiry date unless, at least

thirty (30) days prior to such expiration date, we notify the Beneficiary in writing at the above

address via overnight courier that we elect not to renew this Letter of Credit for any such additional

period(s).

This Letter of Credit is subject to the Uniform Customs and Practice for Documentary

Credits (2007 Revision), International Chamber of Commerce Publication 600, and to the extent not

inconsistent therewith, the laws of the State of Florida, without regard to principles of conflicts of

law.

We hereby agree with you that all drafts drawn under and in compliance with the terms and

conditions of this Letter of Credit will be duly honored upon presentation and delivery of the

documents specified above to our office at the address above on or before the above expiry date.

Sincerely,

____________________ NATIONAL BANK

_____________________________

Authorized Signature

Irrevocable Standby Letter Of Credit Template Page 2