Credit Reference Letter Utility Company

How to write a Credit Reference Letter Utility Company? Download this Credit Reference Letter Utility template now!

Whether you manage the finances at your work or at home, adequate communication is essential. Accurately keeping track of financial data is not only critical for running the day-to-day operations of your small business, but it is also important when seeking funds from investors or lenders to grow your business to the next level. Having correct and accurate information exchange, enables and ensures you, you are able to make the right decisions. For those working in Finance, it's important to be accurate and always double-check every detail and this letter can be useful:

Credit Reference Letter Utility Company

To Whom It May Concern / Dear Mr., Mrs.,

By order of ______________ {{the “Applicant”}} for the _____________ project {{Queue #}} {{the

“Project”}}, __________________ {{the “Bank” }} hereby issues in favor of Pacific Gas and Electric Company {{the “Beneficiary”}} this irrevocable standby letter of credit No. ________ {{the “Letter of Credit”}}, for the account of Applicant, for drawings up to but not to exceed the aggregate sum of U.S. $___________ {{____________Dollars and no cents}} {{the “Letter of Credit Amount”}}, which is the cost responsibility assigned to {{Insert name of party entering a GISPA, LGISPA,SGIP, LGIP, GIP, GIDAP or GIA with Beneficiary}} for Beneficiary’s Interconnection Facilities/Network Upgrades {{Separate LC’s are Required for IF and NU}} related to the Project, pursuant to the California Independent System Operator Tariff.

This Letter of Credit is available with the Bank by sight payment, at the Bank’s offices located at the address stated below, effective immediately, and it will expire at close of business on _________ {{the “Expiry Date”}}.

Funds under this Letter of Credit are available to the Beneficiary against presentation of the following documents:

1. Beneficiary’s signed and dated sight draft in the form of Exhibit A hereto, referencing this Letter of Credit No. {{Insert number}} and stating the amount of the demand; and

2. One of the following statements signed by an authorized representative or officer of Beneficiary:

A. “Beneficiary is entitled to draw under Letter of Credit No. {{Insert number}} amounts owed to Beneficiary by {{Insert name of party entering into one of the following enumerated studies/agreements with Beneficiary}} pursuant to that certain Pro Forma Generator Interconnection Study Process Agreement{{GISPA}}/Pro Forma Large Generator Interconnection Study Process Agreement {{LGISPA}}dated_________, {{Date of the study that references the security amount requiring to be posted}} the Small Generator Interconnection Procedures {{SGIP}}/Large Generator Interconnection Procedures {{LGIP}}/Generator Interconnection Procedures{{GIP}}/Generator Interconnection and Deliverability Allocation Procedures {{GIDAP}}for Interconnection Requests, or any Generator Interconnection Agreement {{GIA}} executed thereafter between {{Insert name of party entering into one or more of the studies/agreements listed in this paragraph.}}, Beneficiary and the California Independent System Operator;” or

B. “Letter of Credit No. {{Insert number}} will expire in thirty {{30}} days or less and {{Insert name of party entering into a LGISPA, SGIP, LGIP, GIP, GIDAP, or GIA with Beneficiary}}has not provided replacement security acceptable to Beneficiary.”

Special Conditions

1.Partial and multiple drawings under this Letter of Credit are allowed;

2.All banking charges associated with this Letter of Credit are for the account of the Applicant;

3.This Letter of Credit is not transferable; and

4.The Expiry Date of this Letter of Credit shall be automatically extended without an amendment hereto for a period of one year from the current Expiry Date and any future Expiry Date, unless at least 90 days prior to the Expiry Date we send you written notice by express courier that this letter of credit will not be so extended.

The Bank engages with Beneficiary that drafts drawn under and in compliance with the terms of this Letter of Credit will be duly honored upon presentation, on or before the Expiry Date {{or after the Expiry Date as provided below}}, at the Bank's offices located.

All demands for payment shall be made by presentation of originals or copies of documents; or by facsimile transmission of documents to {{phone number}}, Attention: Name/department, with originals or copies of documents to follow by overnight mail. If presentation is made by facsimile transmission, Beneficiary may contact the Bank at {{phone number}} to confirm receipt of the transmission. Beneficiary's failure to seek such a telephone confirmation does not affect the Bank's obligation to honor such a presentation. The Bank's payments against complying presentations under this Letter of Credit will be made no later than on the sixth {{6th}} banking day following a complying presentation. Except as stated herein, this Letter of Credit is not subject to any condition or qualification. It is the Bank’sindividual obligation, which is not contingent upon reimbursement and is not affected by any agreement, document, or instrument between us and the Applicant or between the Beneficiary and the Applicant or any other party.Except as otherwise specifically stated herein, this Letter of Credit is subject to and governed by the Uniform Customs and Practice for Documentary Credits, 2007 Revision, International Chamber of Commerce {{ICC}} Publication {{the “”}}; provided that, if this Letter of Credit expires during an interruption of the Bank's business as described in Article 36 of the UCP 600, we will honor drafts presented in compliance with this Letter of Credit within thirty {{30}} days after the resumption of the Bank's business and effect payment accordingly. The law of the State of New York shall apply to any matters not covered by the {{Organization}}.

If you have any questions, please feel free to contact the bank directly. I will be available on phone: {{T+00000000}} and email: {{[email protected]}} regarding this Letter of Credit.

Very truly yours,

Feel free to download our utility letter templates, they are intuitive and in several kinds of formats, such as PDF, WORD, PPT, XLS (Excel includes formulas and can calculate sums automatically), etc.

Using this Credit Reference Letter Utility template guarantees that you will save time, cost and effort and enables you to get things done.

Download this professional Credit Reference Letter Utility Company template now!

Looking for more? Our collection of financial documents, templates, forms, and spreadsheets includes templates designed specifically for small business owners, private individuals, or Finance Staff. Find financial projections to calculate your startup expenses, payroll costs, sales forecast, cash flow, income statement, balance sheet, break-even analysis, financial ratios, cost of goods sold, amortization and depreciation for your company. These financial templates also work with OpenOffice and Google Spreadsheets, so if you are operating your business on a very tight budget, hopefully, you'll be able to make these financial templates work for you as well.

DISCLAIMER
Nothing on this site shall be considered legal advice and no attorney-client relationship is established.

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