Letter Of Credit; General Form of a Letter by Creditor Agreeing To Pay Checks, Signed By Another, Payable Up To a Specified Amount

Letter Of Credit: General Form of a Letter by Creditor Agreeing To Pay Checks, Signed By Another, Payable Up To a Specified Amount

To whom it may concern:
We will pay checks signed or endorsed _________ by the bearer, _________, of this letter, (1 ) provided that any such check is not payable in an amount in excess of N _____, (2 ) provided that notation of any check and of the amount of it paid pursuant to this letter is, at the time of payment, endorsed on the back of this letter, and (3 ) provided that any check paid under authority of this letter does not increase the total sum paid on checks, as shown by such notation of checks paid endorsed here, in excess of N _____.
The signature of the bearer, _________, is below, designated as Beneficiary.?

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Writer
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Beneficiary

 

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