HomeMy WebLinkAboutC24100 - Letter of Credit from SuKut Const.Wells Fargo Bank, N.A
TRADE SERVICES DIVISION - STANDRY LETTER OF CREDIT (INIT
One Front Street, 21st Floor, San Francisco, California 94111
Phone: (800) 798-2815; Fax: (415) 296-8905; E-Mail: sftrade(&wellsfarao.com
Irrevocable Letter of Credit
March 31, 2008
Letter of Credit No. NZS617856
To: City of Palm Desert
73-510 Fred Waring Drive
Palm Desert, California 92260-2578
Attn: City Engineer
At the request and for the account of Sukut construction, Inc. ('Applicant'), 4010 W. Chandler
Avenue, Santa Ana, California 92704, we hereby establish our Irrevocable Letter of Credit No.
NZS617856 in favor of City of Palm Desert (Beneficiary) in an aggregate amount of Twenty -
Five Thousand & 00/100's U.S. Dollars (US$25,000.00) available with us at our above office by
payment of Beneficiary's draft(s) drawn on us at sight accompanied by Beneficiary's signed and
dated statement worded as follows:
"The undersigned, an authorized representative of City of Palm Desert (the `City'),
hereby certifies that the draft presented under Wells Fargo Bank, N.A. Letter of
Credit No. NZS617856 represents the amount due to the City by Sukut
Construction, Inc. in connection with Project # C24100, Sound Wall for Fred
Waring Drive."
This Letter of Credit expires at our above office on April 30, 2010.
Partial & multiple drawings are permitted. Each draft must be marked "Drawn under Wells
Fargo Bank, N.A. Letter of Credit No. NZS617856 dated March 31, 2008".
Each draft must also be accompanied by the original of this Letter of Credit for our
endorsement on this Letter of Credit of our payment of such draft.
If any instructions accompanying a drawing under this Letter of Credit request the payment is
to be made by transfer to an account with us or at another bank, we and/or such other bank
may rely on an account number specified in such instructions even if the number identifies a
person or entity different from the intended payee.
This Letter of Credit is subject to the Uniform Customs and Practice for Documentary Credits
(2007 Revision), International Chamber of Commerce Publication No. 600, and engages us in
accordance therewith.
By:
Name:
Title:
Very truly yours,
Wells wank, N.A.
EISA CHAR
ASSISTANT VICE PRESIDENT
1N 1 3S30 WlYd . 0 A11 �Od
{0 =ZI d I - NV 8001
03A130321