Fill and Sign the Irrevocable Standby Letter of Credit Application and Letter of Form

Instruction: This is a model letter. Adapt to fit your facts and circumstances. < borro w er>RE: Non-Transferable Letter of Credit Number: Issued by: Address: Dear < borro w er> : hereby opens our revocable credit in your favor available on the following terms and in the following manner:1. Checks. Your checks drawn on your Account Number , maintained with us in the name of , for any sum or sums not exceeding in total $ , each of which checks must state upon its face, "Drawn under Letter of Credit No. dated ." 2. Term. This letter of credit shall be binding on the undersigned pursuant to the terms hereof for a period of days from the date of issuance, unless revoked prior to said time period. Date of issuance is: . The last day upon which this letter of credit shall be in effect (unless extended) is: . 3. Issuer's obligation . This is a revocable letter of credit and may be modified or revoked at any time without borrower’s consent. In case of modification or revocation, we agree with any person authorized to honor or negotiate checks under this credit to reimburse that person for checks duly honored or negotiated prior to that person receiving notice of any modification or revocation. We agree with any drawer, endorser, or good faith holder to duly honor checks properly drawn and negotiated under this credit in compliance with its original terms or, if modified, only with its modified terms. 4. Rules applicable. This letter of credit is governed by the Uniform Commercial Code as adopted by the State of . This letter of credit is not transferable. Creditor: By: ____________________________ Signature of Creditor’s RepresentativeIts: ____________________________ Title of Creditor’s Representative