Dear Mr. Arnold,
We hereby start our final credit in your favor for the sum of Fifty Thousand dollars which has to be made for the payment at the sight by your request, on the presentation of this draft which is accompanied by the statement.
This Letter of Credit is valid until 23-april-2012, however, that this Letter of Credit will be automatically extended without amendment for 22 April 2012 from the present date to any future expiry date thereof, unless the Bank provides a written notice to the "Commodity Credit Corporation of Agriculture" at least thirty (30) days before the date of election that this letter should not be renewed. This notice required hereunder will be assumed to have been given when acknowledged by you.
The Credit letter is to be issued which is subjected to the "Customs and the Practice for the Documentary Credits" of, 2007 Revision, the International Chamber of Commerce Publication" No. 650
Sincerely,
John
No comments:
Post a Comment