This letter would be addressed to a third party client providing them authorization to access the amount of credit letter as requested by the client. The letter is way to reach to the third party client and asking them to complete the transaction as agreed in the contract between both parties.
Mr. Harsh Parekh,
28th Sept’ 2010
Subject: Transferable letter of credit
Dear Mr. Parekh
We are writing to you with reference to the request made to us by our valuable customer, Power Services, Bengaluru, we the Board Members of Circle Co-op Bank Pvt. Ltd, hereby, establish a letter of credit for Ten Thousand Rupees (Rs. 10,000).
We authorize the letter of credit as transferable to our third part client and allow them to access a part of the amount of credit to meet the requirements of our client for acquiring the contract agreed between the two parties.
We allow you to have access to the amount provided you give the assurance to deliver us the amount mentioned above by Demand Draft as per the agreement on the address mentioned below.
Circle Co-op Bank Pvt. Ltd
Bandra (west) Branch,
Mumbai 400 052