Advice Of Credit Nonsales Transaction
This is to advise you that [name and address of Issuer] has opened an irrevocable Letter of Credit No. [number] for your account in the aggregate amount of ---------- dollars ($----------). These funds are available to you by sight drafts drawn on [name and address of Bank branch handling these transactions] provided that they meet the following conditions: Drafts must be marked: DRAWN UNDER LETTER OF CREDIT NO. [number] OF [Issuer], these drafts must be negotiated no later than [date]. This credit is available in increments of ---------- dollars ($----------). [Issuer] hereby states that drafts drawn under this Credit will be honored when presented by you or any bona fide Holder.
This Letter of Credit is subject to all laws governing letters of credit, whether foreign or domestic.
Our file number and the date of this advice should be noted on any draft drawn under the Credit and submitted to this Bank for negotiation.
File No. [number] Yours truly,
[title of authorized officer]