Fillable ATTN: Utility Engineering Department Sussex County Council #2 (Sussex County Council)

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ATTN: Utility Engineering Department Sussex County Council #2 (Sussex County Council)

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ATTN: Utility Engineering Department
Sussex County Council
#2 The Circle, P.O. Box 589
Georgetown, DE 19947
RE: WATER SUPPLY FACILITIES (“WORK”)
IRREVOCABLE COMMERICAL LETTER OF CREDIT NO. ________________
AGREEMENT NO. __________________
___________________________________________ (NAME OF SUBDIVISION)
Councilmembers:
We hereby establish our Irrevocable Commercial Letter of Credit in favor of Sussex County
Council, #2 The Circle, Georgetown, Delaware, as beneficiary at the request of, and for the
account of ____________________________________ (DEVELOPER) for an amount or
amounts not to exceed ______________________________________ (DOLLARS).
This letter of credit is subject to the following terms and conditions:
1. Effective Date: ________________________
2. Expiration Date: _______________________
3. This credit is to be available by sight draft being presented to
_____________________________________(BANK) at its main office at
______________________________(ADDRESS). All drafts so drawn must bear the
clause “Drawn under _______________________________(BANK) letter of credit
number ________________ dated ___________________.
4. The Developer is responsible to complete the construction work as defined by the plans
and the project to a point of acceptance by the Sussex County Engineer covering the
materials, construction, construction administration and construction inspection for the
water supply facilities, and the irrevocable letter of credit in favor of Sussex County
Council, Sussex County, Delaware, pertaining thereto.
5. The sight draft must be signed by an authorized representative of the Sussex County
Council stating, “ _______________________________(DEVELOPER) has failed to
complete the construction work as defined by the plans and the project to a point of
acceptance by the Sussex County Engineer with _______________ (AGREEMENT
NO.) _______________________________ (NAME OF SUBDIVISION) covering the
materials, construction, construction administration and construction inspection for the
water supply facilities and the irrevocable letter of credit in favor of Sussex County
Council, Sussex County, Delaware, pertaining thereto. Demand is hereby made in the
amount of the enclosed draft.”
6. Except as otherwise stated herein, no modifications or revocations may be made by the
undersigned to the irrevocable credit created hereby, without the express written
approval of the Sussex County Council.
7. Drafts drawn in favor of Sussex County Council shall not relieve the Developer of
any other liability it may have for the satisfactory completion of the aforesaid Work.
8. Except insofar as otherwise expressly stated, this Credit is to be governed and
construed in accordance with Delaware law, and to the extent not inconsistent
therewith, the “Uniform Customs and Practices for Documentary Credits (2007
revision) International Chamber of Commerce, Publication No. 600.”
Very truly yours,
____________________________ __________________________________ Witness
Bank
2
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ATTN: Utility Engineering Department Sussex County Council 2 (Sussex County Council)

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Completed 18 July 2020

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