Renewable Letter Of Credit
Letter No. [number]
For [name] (Beneficiary)
By order of [name and address of customer], we have established in your favor a Letter of Credit up to an aggregate amount of ---------- dollars ($----------), available by your drafts at sight, provided those drafts are accompanied by the following documents: [i.e., signed statements as to what the funds are to be used for].
Drafts must be drawn and presented at this office by [date].
Drafts drawn in compliance with the terms of this credit, stating use of proceeds, name and address of issuer, and date will be honored if presented to this Bank on or before [expiration date of credit], no later than [hour] AM [PM] [time zone], at which time this credit expires.
This Letter of Credit shall be automatically renewed for an additional year (twelve months) from its expiration date unless you notify us, in writing, not to renew this credit.
This credit is drawn subject to the Uniform Customs and Practice for Documentary Credits (1974 Revision), International Chamber of Commerce Publication No. 290.
[title of authorized officer]