- Alias
- Letter of Credit
- Submit to
- the requesting city department
- Applies to
- any
- Work types
- any
The City of Mississauga's two-page letter of credit template, linked from the page on applying for Section 47 approval. Page one is the wording set on bank letterhead, naming the Corporation of the City of Mississauga as beneficiary, allowing partial drawings on written demand and reducing the amount by written notice. Page two is the City's own notes: acceptance only from a Payments Canada member holding the stated credit ratings, separate letters for each department, and the acceptable alternatives of bank draft, money order or certified cheque.
What it covers
- For Bank Only
- Additional Notes
- Requirements re: Issuing Financial Institution
- Additional Requirements
- Acceptable alternatives to a letter of credit
Check this against the municipality before you rely on it. DocHub collects what a municipality published; it cannot tell you what is in force today. A newer version may exist, may be titled differently, or may not be posted publicly at all.
- Publisher
- The Corporation of the City of Mississauga
- Category
- Declarations
- Published under
- Apply For Section 47 Approval — the municipality's own heading
- Form ref
- Corporate policy – Letters of Credit – 04-08-04
- Valid for
- one year, automatically extended unless notice is given thirty days prior
- Instruments
- Uniform Customs and Practice for Documentary Credits (2007 Revision), ICC Publication No. 600 · Bank Act · Credit Union and Caisses Populaires Act, 1994
- Signatories
- authorized signature — for bank only
- Publisher note
- The City publishes the template and its notes; the letter itself is drawn on the issuing bank's letterhead, with the Corporation of the City of Mississauga named as beneficiary.
- Tags
templateletter-of-creditsecuritysection-47development-application