Home
Forms Library
Irrevocable letter of credit sample

Irrevocable letter of credit sample 2025

irrevocable letter of credit sample Preview on Page 1

Show details

4.2 out of 5

20 votes

The document is an Irrevocable Letter of Credit template intended for use by the North Carolina Department of Revenue. It outlines the terms and conditions under which a bank issues a letter of credit to guarantee payment for tax compliance by a principal. Key elements include details about the principal, coverage period, credit amount, automatic renewal conditions, liability release dates, and presentation requirements for drawing funds. The document emphasizes that it is irrevocable and governed by North Carolina law.

Here's how it works

01. Edit your irrevocable letter of credit sample online

Type text, add images, blackout confidential details, add comments, highlights and more.

02. Sign it in a few clicks

Draw your signature, type it, upload its image, or use your mobile device as a signature pad.

03. Share your form with others

Send letter of credit sample via email, link, or fax. You can also download it, export it or print it out.

The easiest way to modify Irrevocable letter of credit sample in PDF format online

Ease of Setup

DocHub User Ratings on G2

Ease of Use

DocHub User Ratings on G2

Working on documents with our extensive and intuitive PDF editor is straightforward. Adhere to the instructions below to complete Irrevocable letter of credit sample online quickly and easily:

Log in to your account. Sign up with your credentials or create a free account to try the service prior to upgrading the subscription.
Upload a form. Drag and drop the file from your device or add it from other services, like Google Drive, OneDrive, Dropbox, or an external link.
Edit Irrevocable letter of credit sample. Effortlessly add and underline text, insert pictures, checkmarks, and signs, drop new fillable areas, and rearrange or remove pages from your paperwork.
Get the Irrevocable letter of credit sample completed. Download your updated document, export it to the cloud, print it from the editor, or share it with other people using a Shareable link or as an email attachment.

Take advantage of DocHub, the most straightforward editor to promptly handle your documentation online!

be ready to get more

Complete this form in 5 minutes or less

Get form

Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Can an irrevocable letter of credit be revoked?

An Irrevocable Letter of Credit is one which cannot be cancelled or amended without the consent of all parties concerned. A Revolving Letter of Credit is one where, under terms and conditions thereof, the amount is renewed or reinstated without specific amendments to the credit being needed.

How much is an irrevocable letter of credit?

Irrevocable Letter of Credit Costs are determined by the lender based on the credit and financial strength of the borrower. Generally, these guarantees cost between 0.5% 3% depending on the market conditions. Under current market conditions, Surety Bond may be cheaper than ILOCs.

What are the benefits of an irrevocable letter of credit?

Irrevocable Letters of Credit (ILOCs) play a pivotal role in international trade, offering security and assurance to both buyers and sellers. With stringent terms and conditions, professional assistance, and adherence to compliance requirements, ILOCs facilitate seamless transactions while mitigating risks.

What is the irrevocable letter of credit?

(a) Irrevocable letter of credit (ILC), as used in this clause, means a written commitment by a federally insured financial institution to pay all or part of a stated amount of money, until the expiration date of the letter, upon presentation by the Government (the beneficiary) of a written demand therefor.

How do I get an irrevocable letter of credit?

How Much a Letter of Credit Costs. Banks usually charge a fee for a letter of credit, which can be a percentage of the total credit they are backing. The cost of a letter of credit will vary by bank and the size of the letter of credit. For example, the bank may charge 0.75% of the amount that its guaranteeing.

letter of credit sample pdf

what is irrevocable letter of credit

How much do banks charge for a letter of credit?

A buyer will typically pay anywhere between 0.75% and 1.5% of the transactions value, depending on the locations of the issuing banks. Sellers may find that their fees are structured slightly differently.