[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-1-en-105":3,"doc-seo-277713-105":53,"doc-detail-277713-en":126},{"code":4,"msg":5,"data":6},0,"success",[7,14,19,24,29,34,39,44,49],{"id":8,"doc_module":9,"doc_module_name":10,"category_name":11,"show_sort_weight":12,"slug":13},11,1,"Template","Presentations",90,"presentations",{"id":15,"doc_module":9,"doc_module_name":10,"category_name":16,"show_sort_weight":17,"slug":18},12,"Resumes",80,"resumes",{"id":20,"doc_module":9,"doc_module_name":10,"category_name":21,"show_sort_weight":22,"slug":23},14,"Invoices",70,"invoices",{"id":25,"doc_module":9,"doc_module_name":10,"category_name":26,"show_sort_weight":27,"slug":28},15,"Posters",60,"posters",{"id":30,"doc_module":9,"doc_module_name":10,"category_name":31,"show_sort_weight":32,"slug":33},16,"Social Media",50,"social-media",{"id":35,"doc_module":9,"doc_module_name":10,"category_name":36,"show_sort_weight":37,"slug":38},17,"Forms",40,"forms",{"id":40,"doc_module":9,"doc_module_name":10,"category_name":41,"show_sort_weight":42,"slug":43},18,"Letters",30,"letters",{"id":45,"doc_module":9,"doc_module_name":10,"category_name":46,"show_sort_weight":47,"slug":48},21,"Paper Templates",5,"papers-templates",{"id":50,"doc_module":9,"doc_module_name":10,"category_name":51,"show_sort_weight":4,"slug":52},158,"General","general-158",{"code":4,"msg":54,"data":55},"ok",{"site_id":56,"language":57,"slug":58,"title":59,"keywords":60,"description":61,"schema_data":62,"social_meta":119,"head_meta":121,"extra_data":123,"updated_unix":125},105,"en","sample-letter-of-credit-authorization-and-draw-terms","Sample Letter of Credit - Authorization and Draw Terms","","Sample Letter of Credit format outlining key fields and authorization terms between a bank, a beneficiary, and a customer. It specifies irrevocable L/C issuance, the maximum aggregate amount available at sight via drafts, and the requirement to submit a signed treasurer certificate confirming that drawn funds are expended for defined services or projects. The template also includes validity up to an expiry date and an automatic one-year extension condition unless notice is given.",{"@graph":63,"@context":118},[64,80,101],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":41,"@type":70,"position":76},"https://docshare.wps.com/template/letters/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/sample-letter-of-credit-authorization-and-draw-terms/277713/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/sample-letter-of-credit-authorization-and-draw-terms/277713.png","ImageObject",442,249,{"name":88,"@type":89},"Angel","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-10-21","2026-09-15",true,{"@type":98,"interactionType":99,"userInteractionCount":15},"InteractionCounter",{"@type":100},"ViewAction",{"@type":102,"mainEntity":103},"FAQPage",[104,110,114],{"name":105,"@type":106,"acceptedAnswer":107},"What does the letter of credit authorize the beneficiary to do?","Question",{"text":108,"@type":109},"It authorizes the beneficiary to draw on the specified bank for the account of the bank customer up to a stated aggregate amount, available by drafts at sight upon written demand for payment.","Answer",{"name":111,"@type":106,"acceptedAnswer":112},"What document must be delivered when payment is demanded?",{"text":113,"@type":109},"A certificate signed by the Treasurer of Peel Region is required, confirming that monies drawn under the letter of credit are to be or have been expended under obligations related to the described services or projects.",{"name":115,"@type":106,"acceptedAnswer":116},"How does the template handle expiry and extension?",{"text":117,"@type":109},"The letter of credit continues up to the stated expiry date, and it is automatically extended without amendment for one year from any expiration date unless written notice is given sixty days prior that it will not be renewed.","https://schema.org",{"og:url":78,"og:type":120,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":122,"canonical":78},"index,follow",{"doc_id":124,"site_id":56},277713,1790202996,{"code":4,"msg":5,"data":127},{"doc_id":124,"user_id":128,"nickname":88,"user_avatar":129,"doc_module":9,"category_id":40,"category_name":41,"doc_title":59,"doc_description":61,"doc_content":130,"file_id":131,"file_url":132,"file_type":133,"file_size":134,"view_count":15,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":9,"language":135,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":136,"faqs":137,"seo_title":138,"seo_description":61,"update_tm":139,"read_time":4},687207412472,"https://ap-avatar.wpscdn.com/davatar_155a257f0dc6eb9ab79c44ca47cae57d","(SAMPLE FORMAT OF LETTER OF CREDIT)  \nBANK:   L/C NO.:   \nBRANCH:  DATE:   \nBENEFICIARY: Peel Region  \n10 Peel Centre Drive  \nBrampton, ON L6T 4B9  \nWE HEREBY AUTHORIZE YOU TO DRAW ON (BANK) FOR ACCOUNT OF (BANK CUSTOMER) UP TO AN AGGREGATE AMOUNT OF (DOLLAR VALUE) AVAILABLE BY DRAFTS AT SIGHT AS FOLLOWS:  \nPursuant to the request of our customer,   we, (bank)   hereby establish and give to you an irrevocable Letter of Credit in your favour in the total amount of $   which may be drawn on by you at any time and from time to time upon written demand for payment made upon us by you which demand we shall honour without enquiring whether you have a right as between yourself and our said customer to make such demand and without recognizing any claim of our said customer.  \nPROVIDED, however, that you are to deliver to (bank)   at such time as a written demand for payment is made upon us a certificate signed by the Treasurer of Peel Region agreeing and/or confirming that monies drawn pursuant to this Letter of Credit are to be and/or have been expended pursuant to obligations incurred or to be incurred by you with reference to (description of services or projects):  \nThis Letter of Credit will continue up to (expiry date)   .  \nIT IS A CONDITION of this Letter of Credit, that it shall be deemed to be automatically extended without amendment for one year from the present or any future expiration date hereof, unless sixty days prior to any such date we shall notify the Treasurer of Peel Region in writing that we elect not to consider this Letter of Credit renewed for any such additional period. Upon receipt by you of such notice, you may draw hereunder by means of your demand accompanied by your written certification that the amounts drawn will be retained and used by you to meet obligations incurred or to be incurred by you in connection with (description of services or projects):  \nTHE DRAFTS DRAWN UNDER THIS CREDIT ARE TO BE ENDORSED HERE ON AND SHALL STATE ON THEIR FACT THAT THEY ARE DRAWN UNDER (BANK)  (BRANCH)   .  \nLETTER OF CREDIT NO.   DATE    \nWE HEREBY AGREE WITH THE DRAWERS, ENDORSERS AND BONAFIDE HOLDERS OF THE BILLS DRAWN IN COMPLIANCE WITH THE TERMS OF THIS CREDIT THAT THE BILLS SHALL BE DULY HONOURED UPON PRESENTATION AT THE DRAWEE BANK.  \n(ACCOUNTANT)  \n(MANAGER)","cbCaiiIW077Pykyd","https://ap.wps.com/l/cbCaiiIW077Pykyd","pdf",202154,"English","# Letter of Credit (Sample Format)\n## Parties, Amount, and Sight Draft Authorization\n## Conditions, Certificates, Expiry, and Automatic Extension\n## Draft Endorsement and Honor Agreement","[{\"question\":\"What does the letter of credit authorize the beneficiary to do?\",\"answer\":\"It authorizes the beneficiary to draw on the specified bank for the account of the bank customer up to a stated aggregate amount, available by drafts at sight upon written demand for payment.\"},{\"question\":\"What document must be delivered when payment is demanded?\",\"answer\":\"A certificate signed by the Treasurer of Peel Region is required, confirming that monies drawn under the letter of credit are to be or have been expended under obligations related to the described services or projects.\"},{\"question\":\"How does the template handle expiry and extension?\",\"answer\":\"The letter of credit continues up to the stated expiry date, and it is automatically extended without amendment for one year from any expiration date unless written notice is given sixty days prior that it will not be renewed.\"}]","Sample Letter of Credit - Authorization and Draw Terms | PDF",1789503263]