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EXAMPLE LETTER OF CREDIT
Updated September 18, 2014
This example letter of credit bid guarantee provides a standard format for California auction or
reserve sale applicants and is meant as a guide only. Auction or reserve sale applicants will need
to work with their financial institutions to ensure all the requirements are met, as described in
Attachment A to the Auction Notice posted for each auction or reserve sale, prior to submitting
any bid guarantee documents to the Financial Services Administrator. For questions on bid
guarantee submittal for an auction or reserve sale, please contact Deutsche Bank National Trust
Company at [email protected] or call (212) 250-6645.
Provided below is an example letter of credit and with areas highlighted that need to be
completed by the issuing bank:
[DATE:] ____________________
[ISSUING BANK BRANCH] ____________________
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PLEASE ISSUE AN IRREVOCABLE STANDBY L/C AS FOLLOWS. PLEASE EMAIL
A COURTESY COPY AND SEND ORIGINAL L/C TO:
MAILING ADDRESS:
AUCTION AND RESERVE SALE FINANCIAL SERVICES ADMINISTRATOR
C/O DEUTSCHE BANK TRUST COMPANY AMERICAS
60 WALL STREET, 16TH FLOOR
MAILSTOP: NYC60-1630
NEW YORK, NY 10005-2836
PHONE: (212) 250-6645
BENEFICIARY:
DEUTSCHE BANK NATIONAL TRUST COMPANY
60 WALL STREET, 16TH FLOOR
NEW YORK, NY 10005-2836
LADIES AND GENTLEMEN:
BY THE ORDER OF:
LEGAL OR OPERATING NAME OF AUCTION APPLICANT: ____________________
ADDRESS OF APPLICANT: ____________________
REFERENCE: ____________________ (Insert Entity CITSS ID # If Available)
FAX: ____________________
ATTN: ____________________
Example Letter of Credit
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