TorontoFees & ChargesDevelopment Charges
Approved Form of Letter of Credit
Published by City of Toronto
This is the City of Toronto’s document, as published on its website on 20 October 2026. The municipality may have changed it since: check the current version at the source. Legal notice
- Type
- Form
- Published by
- City of Toronto
- Date
- 2015
- Also called
- Letter of Credit,
- Form reference
- City of Toronto By-law No. 1423-2007
- For
- owner
- Signed by
- bank
- Building types
- All building types
- Pages
- 1
- Agencies
- City of Toronto Revenue Services Division
- Submit to
- City of Toronto, Revenue Services Division
- Instruments
- City of Toronto By-law No. 1423-2007 · International Standby Practices (ISP98)
Overview
The City of Toronto's approved form of irrevocable standby letter of credit, drafted on bank letterhead and addressed to the City of Toronto, Revenue Services Division at 5100 Yonge Street. It is linked from the rental and institutional development charges page, and is given for the obligations of the customer under City of Toronto By-law No. 1423-2007. The wording covers partial drawings, written demand payable to the Treasurer, honouring by the second business day, and automatic year-to-year extension unless the bank gives ninety days' notice.
What it covers
- Approved Form of Letter of Credit
- Irrevocable Standby Letter of Credit
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