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Sight Draft - Sample Form Exhibit A

This document is a sample sight draft letter to draw funds from a letter of credit. It directs a financial institution to pay a specified U.S. dollar amount to the Commonwealth of Pennsylvania Office of Attorney General pursuant to an irrevocable letter of credit for a specific health club. It certifies that the funds will cover final court judgments against the health club and that the letter of credit was not replaced after the financial institution declined to renew it.

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Agus Pratomo
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403 views2 pages

Sight Draft - Sample Form Exhibit A

This document is a sample sight draft letter to draw funds from a letter of credit. It directs a financial institution to pay a specified U.S. dollar amount to the Commonwealth of Pennsylvania Office of Attorney General pursuant to an irrevocable letter of credit for a specific health club. It certifies that the funds will cover final court judgments against the health club and that the letter of credit was not replaced after the financial institution declined to renew it.

Uploaded by

Agus Pratomo
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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SIGHT DRAFT SAMPLE FORM EXHIBIT A

LETTER OF CREDIT NUMBER

SIGHT DRAFT DATE

YOU, [NAME AND CITY OF THE FINANCIAL INSTITUTION], are directed to pay to the order of the Commonwealth of Pennsylvania, Office of Attorney General, Bureau of Consumer Protection U.S. DOLLAR AMOUNT IN WORDS U.S. DOLLAR AMOUNT IN NUMBERS

Pursuant to your irrevocable letter of credit number LETTER OF CREDIT NUMBER dated DATE OF LETTER OF CREDT regarding NAME OF HEALTH CLUB ADDRESS OF HEALTH CLUB INCLUDING LOCATION OF HEALTH CLUB. (1) We, the Office of Attorney General, hereby certify that the amount of the accompanying sight draft represents claim(s) in the form of final court judgment(s) filed with us by buyers of Health Club contracts against NAME OF APPLICANT HEALTH CLUB pursuant to 12 of the Health Club Act, Act of December 21, 1989, P.L. 672, 73 P.S. 2172. (2) We, the Office of Attorney General, certify that [NAME OF FINANCIAL INSTITUTION] has given us notice of at least ninety (90) days prior to the current expiration date of letter of credit LETTER OF CREDIT NUMBER that NAME OF FINANCIAL INSTITUTION elects not to extend said letter of credit for an additional period of one (1) year; and that NAME OF APPLICANT HEALTH CLUB ADDRESS OF HEALTH CLUB INCLUDING LOCATION OF HEALTH CLUB has failed to replace said letter of credit with other financial security acceptable to the Office of Attorney General within thirty (30) days after the date of such notice. This sight draft is drawn under NAME AND CITY OF FINANCIAL INSTITUTION Credit Number LETTER OF CREDIT NUMBER dated ISSUE DATE and is accompanied by the original letter for proper endorsement. This dollar amount draw is a _____FULL_____PARTIAL draw on the total letter of credit amount of TOTAL AMOUNT OF LETTER OF CREDIT.

Authorized Signature Bureau of Consumer Protection

Sworn to and subscribed before this day of , 200

Notary Public

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