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Irrevocable Standby Letter Of Credit Form. This is a Oregon form and can be use in Self Insured Employer Workers Comp.
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Tags: Irrevocable Standby Letter Of Credit, 3640, Oregon Workers Comp, Self Insured Employer
COURT
COUNTY .OF. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
......... ..
:
State of Oregon
Department of Consumer and Business Services
Workers’ Compensation Division
Index No.
IRREVOCABLE STANDBY LETTER OF CREDIT
:
Calendar No.
Irrevocable Standby Letter of Credit number:
:
Issuing bank name/address:
JUDICIAL SUBPOENA
Plaintiff(s)
Effective date:
:
-againstDate and place of issue:
Date:
Place:
Expiry date and place for presentation of documents:
Expiry date: :
Place for presentation:
:
Applicant (self-insured employer) name/address:
Beneficiary:
Defendant(s)State of Oregon acting by and through, the
:
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Oregon .Department of Consumer and Business Services
..... .
350 Winter Street NE
PO Box 14480
Salem OR 97309-0405
THE PEOPLE OF THE
Confirming bank name/address:STATE OF NEW YORK
Reference number:
Amount: U.S. $ (spell out amount in U.S. dollars)
TO
(hereinafter referred to as “Issuer”) hereby issues our irrevocable standby letter of
[Insert bank name]
GREETINGS:
credit (hereinafter referred to as “letter of credit”) in favor of the Oregon Department of Consumer and Business Services, on behalf of
(hereinafter referred to as the “self-insured employer”)
WE COMMAND YOU, that all business and excuses being laid aside, you and each of you attend before
(applicant)
,
at the
Court
.
located at
County is available with
of
The credit
(issuing or confirming bank located in the State of Oregon)
in room
, on the
day of
, 20
, at
o'clock in the
noon, and at any recessed
or adjourned date, to testify and give evidence as a witness in this action on the part of the
the amount of U.S.
in the Honorable dollars:
by presentation of the beneficiary’s draft drawn at sight on the issuing bank or confirming bank, payable within three business days, when
accompanied by one of the four following statements, signed by the director of the Oregon Department of Consumer and Business
Services or the administrator of the Oregon Department of Consumer and Business Services, Workers’ Compensation Division, or their
designated authorized representative:
Your failure to comply with this subpoena is punishable as a contempt of court and will make you liable to
That the self-insured employer has defaulted in issued for maximum penalty of $50 or obligations, or in sustained
the party on whose behalf this subpoena was payment of itsaworkers’ compensation liabilities and all damages payments as a
due the failure to comply.
result of yourdirector of the Oregon Department of Consumer and Business Services; OR
That the self-insured employer has filed for bankruptcy; OR
Witness, Honorable
Court
, one of the Justices of the
That the self-insured employer has failed to renew the letter of credit or substitute acceptable security for workers’
in
County,
day of
20
compensation liabilities and obligations by fifteen (15) days ,before the expiry date of the letter of credit; OR
That the beneficiary has determined that the existing security is deemed to be inadequate; that additional or replacement
security must be provided by the self-insured employer and that neither has been provided, notwithstanding written notice to the
(Attorney must sign above and type name below)
self-insured employer.
This letter of credit is payable at:
(branch of bank, name and address)
. Attorney(s) for must be marked
Drafts presented
‘s
“Drawn under
(issuing bank)
letter of credit number
dated
.”
Office and in the aggregate,
Drawings honored by the issuing bank or confirming bank under this letter of credit shall not, P.O. Address exceed the total amount of
credit set forth above, or as modified by accepted amendments, and each drawing honored by the issuing bank or confirming bank shall
reduce the amount set forth pro tanto. Partial drawings are permitted.
Telephone No.:
Facsimile No.:
E-Mail Address:
Mobile Tel. No.:
440-3640 (7/03/DCBS/WCD/WEB)
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COURT
COUNTY .OF. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
......... ..
:
Index No.
Letter of Credit Number
Page 2
:
Calendar No.
The purpose of this letter of credit is to create a primary obligation on the part of
Plaintiff(s)
:
JUDICIAL SUBPOENA
(issuing bank)
and any confirming bank to the Oregon Department of Consumer and Business Services relating to the self-insured workers’
-against:
compensation liabilities and obligations of the self-insured employer
(applicant)
:
in accordance with Chapter 656 of the Oregon Revised Statutes. Except as stated herein, this letter of credit is not subject to any condition
or qualification and is the issuing and any confirming bank’s individual obligation which is in no way contingent upon reimbursement.
:
This letter of credit will be automatically extended without amendment for one year from the expiry date shown above, or any future
expiry date, unless at least 60 days prior to expiry, we notify the beneficiary by registered mail or overnight delivery that we elect not to
Defendant(s)
:
extend this. letter .of . . . . .for.such additional period. .The . . . . . . . . . . . be addressed to the Administrator, Workers’ Compensation
. . . . . . . . . . credit . . . . . . . . . . . . . . . . . . notification will . . . . . .
Division, Department of Consumer and Business Services, State of Oregon, 350 Winter Street NE, P.O. Box 14480, Salem, OR 973090405.
Payment of any amount under this letter of credit by the issuing or a confirming bank shall be made by wire transfer to the Oregon
THE PEOPLE OF THE STATE OF NEW account,
Department of Consumer and Business Services’ bankYORK as instructed in the demand notice signed by the director or the
administrator or their designated authorized representative, for deposit to the account of the Oregon Department of Consumer and
Business Services for the self-insured employer’s workers’ compensation liabilities and obligations under ORS 656.
TO
If the issuing bank or any confirming bank is closed at the time of the expiry of this letter of credit for any reason that would prevent the
delivery of a demand notice during its normal hours of operation, this letter of credit will be automatically extended for a period of 30 days
commencing on the next day of operation.
GREETINGS:
All bank charges for this letter of credit are for the account of the applicant.
WE COMMAND YOU, that all business beneficiary.
Any amendments to this letter of credit must be approved by the and excuses
being laid aside, you and each of you attend before
,
the Honorable
at the
Court
Except so far as otherwise expressly stated,located at credit is subject to the International Standby Practices 1998 (ISP 98) International
this letter of
County of
Chamber of Commerce Publication # 590 and to the laws of the state of Oregon. In the event of a conflict between these authorities, the
in of the
, on the
, 20
, at
o'clock in the
noon, and at any recessed
lawsroom state of Oregon will control. day of
or adjourned date, to testify and give evidence as a witness in this action on the part of the
We hereby engage with drawers, endorsers, and/or bona fide holder that drafts drawn under and presented in strict conformity with the
terms of this credit will be duly honored on presentation to us.
The funds provided by this letter of credit are not construed to be an asset of the self-insured employer. If any legal proceedings are
Your failure to comply with this subpoena is punishable as a contempt of court and will make you liable
initiated with respect to this letter of credit, it is agreed that such proceedings shall be subject to the courts and law of the state of Oregon.
to
the party on whose behalf this subpoena was issued for a maximum penalty of $50 and all damages sustained as a
is requested to add its confirmation to this letter of credit.
result of your failure to comply.
(name of confirming bank or N/A)
Issuing bank
Witness, Honorable
Name: County,
Court in
, one of the Justices of the
day of
, 20
Date:
Title:
Signature:
(Attorney must sign above and type name below)
hereby undertakes to honor any drafts presented to it when
(name of confirming bank or N/A)
drawn under and in strict conformity with the terms of this credit.
Confirming bank
Name:
Attorney(s) for
Date:
Title:
Signature:
Office and P.O. Address
Accepted by the Oregon Department of Consumer and Business Services
Name:
Date:
Title:
Signature:
440-3640 (7/03/DCBS/WCD/WEB)
Telephone No.:
Facsimile No.:
E-Mail Address:
Mobile Tel. No.:
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