DIY Legal Forms

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Advice Of Authority To Pay Letter Of Credit

[Bank]

[address]

[date]

[name]

[address]

Dear [Seller]:

This is to advise you that [name and address of foreign bank] has authorized us to honor drafts under their credit No. [number] for the account of [name and address of Buyer]. The sum of any one of these drafts is not to exceed ---------- dollars ($----------), and the total of the drafts is not to exceed ---------- ($----------).

All drafts must be marked: DRAWN AS PER ADVICE [Bank]. They must be drawn at [address] on us. The following documents shall accompany these drafts: [e.g., bills of lading, insurance policies, invoices]. Partial shipments are not permitted.

Drafts and accompanying documents must be presented at [address of Bank] within [number] days after the issuance of bills of lading.

This advice is subject to all foreign and domestic laws governing letters of credit.

This advice is subject to revocation or modification at any time.

Sincerely,

[Bank]

By: [signature]

[title of authorized officer]