Revolving Letter of Credit
10/22/2017
This letter would be addressed to any third party customer on behalf your customer allowing them the accesses the withdrawal of amount as request by the customer. The letter is way to tell them about how the transactions can be processed as per the agreement reached between both parties.
To,
Arjun Singh,
Project Manager,
Tough Rubber Manufacturers,
Noida.
28th Sept’ 2010
Subject: Letter of Credit
Dear Mr. Arjun Singh,
As a Branch Manager of Globus Bank, I am writing to you referring to the request made by our customer, Trek Raw Materials Pvt. Ltd., to provide you with the payment as per your requirement for the completion of the project you have undertaken.
We would credit the amount to the applicants account with our bank, Indore branch, and the transaction would be non-cumulative and would be on fortnightly basis. As per the agreement between both the parties we would allow you to utilized Rs. 4,000 every fortnight.
All the drawing must be repaid to us at our Head office in Agra before the end of fourth quarter ending 31st January, 2011.
We value our customer’s request and we assure to give you our complete co-operation in the financial matte for the completion of project.
Yours truly,
Branch Manager,
Globus Bank