Letter of Credit is provided to inform you about this document in question and assist you in its preparation. A L/C is a standard document to provide for guaranteed payment. This document will suffice.
Suggestions:
1. Make multiple copies. Give one to each related party and keep one with the transaction file involved.
Letter of Credit
Date: _________
LETTER OF CREDIT (GENERAL)
__________________________
__________________________
__________________________
Sir:
We hereby agree to accept and pay at maturity any draft or drafts on us, at sight, issued by __________________________, of __________________________, to the extent of $_____(________________________ & _____/100 dollars), and negotiated through your bank.
Most respectfully yours,
_____________________________________
__________________________ by: ________________