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LC Sample

This letter of credit document outlines the requirements and terms for a standby letter of credit issued by a South Carolina bank. It provides the bank name and address, letter of credit number, project details, expiration date, applicant and beneficiary information. The credit amount is specified in both numbers and written form. It details that the beneficiary can draw on the letter of credit by presenting a signed statement and draft if the applicant fails to complete required improvements by the expiration date. The original letter of credit and amendments must be presented for any draw.

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Rashil Shah
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219 views1 page

LC Sample

This letter of credit document outlines the requirements and terms for a standby letter of credit issued by a South Carolina bank. It provides the bank name and address, letter of credit number, project details, expiration date, applicant and beneficiary information. The credit amount is specified in both numbers and written form. It details that the beneficiary can draw on the letter of credit by presenting a signed statement and draft if the applicant fails to complete required improvements by the expiration date. The original letter of credit and amendments must be presented for any draw.

Uploaded by

Rashil Shah
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Letter of Credit Example

Must be issued on bank letterhead


Must be bank issued
Must be a South Carolina banking institute

Bank Name
Bank Address
IRREVOCABLE STANDBY LETTER OF CREDIT #__________
PROJECT/DEVELOPMENT: ____________________________
LOCATION: _________________________________________
PLACE AND DATE OF ISSUE
Address
City, State, Zip
Month/Day/Year
EXPIRATION DATE/PLACE
Month/Day/Year (2 years from issue date) at City Hall, Planning and Development Dept.
APPLICANT:
Applicant Name
Applicant Address
City, State, Zip

BENEFICIARY:
CITY OF ROCK HILL
155 JOHNSTON STREET
ROCK HILL, SC 29730
ATTN: DAVID DICKSON

SUBJECT: Landscaping, Roadway Final Lift, Sidewalk, etc.


CREDIT AMOUNT: $______________
Amount Written Out (For example: one thousand three hundred dollars)
We hereby establish our irrevocable standby letter of credit no.__________ in your favor for the account of
_____________________ up to the aggregate amount of USD $_________________(Amount Written Out).
This letter of credit is available for payment against presentation of Beneficiarys drafts at sight drawn on Bank Name,
Bank Address, bearing the clause Drawn Under Bank Name, Credit No. _________, accompanied by the following
documents:
Beneficiarys signed statement reading:
The City of Rock Hill, South Carolina certifies that ________________________ has failed to complete the
required improvements: ____________________ for the _____________________ project/development and we
are therefore entitled to the sum of ________________.
We hereby engage with you that the drafts drawn under, and in compliance with the terms of the credit, will be duly
honored on presentation to us, on or before the expiration date.
In the event of a draw under this letter of credit, the Beneficiary is required to present the original letter of credit, including
any amendments issued after the date of origin, and all other documents required by the crediting institution.
Issuing Bank and Authorized Signature

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