ABSTRACT
IN WITNESS WHEREOF, the undersigned have executed this Certificate on the date first above written.
<<insert name of Contractor>> <<insert name of Consortium Member>> By:____________________________ Name:_________________________ Title:__________________________
[<<insert name of Consortium Member>> By:____________________________ Name:_________________________ Title:_________________________]
DETAILED DESCRIPTION OF MILESTONES MET
CALCULATIONS
FORM OF RETAINAGE LC
IRREVOCABLE STANDBY LETTER OF CREDIT NO. __________
<<insert date>> CREDIT NO. __________
<<insert date>> <<insert Sponsor name and address>>
Ladies and Gentlemen:
1. Stated Amount. We hereby establish in favor <<insert name of Sponsor>> (the “Sponsor”) an irrevocable Standby letter of credit (the “Credit”) whereby you are authorized to draw on [<< insert name of Acceptable Issuer Bank>>] (the “Issuing Bank”), Credit No. __________, issued for the account of [insert name of Contractor] (the “Contractor”), an aggregate amount not exceeding <<insert amount of currency in words>> (<<insert amount of currency in numerals>>) (the “Stated Amount”). This Credit is issued pursuant to the Fixed Price, Lump Sum Turnkey Engineering, Procurement and Construction Contract, dated as of <<insert date>>, between the Contractor and the Sponsor (as amended, restated, supplemented or otherwise modified from time to time, the “Contract”).
