Letters

Download Free Sample Letter of Credit Facility

The following is a sample Letter of Credit Facility which can be used as a template when applying for a new credit facility with a financial institution. This Letter of Credit Facility sets out the terms and conditions under which the credit facility will be provided and should be read in conjunction with the full Credit Agreement.

The Executive Governor,
Of Akwa Ibom State

 

Through
Hon. Commissioner for Transport
And petroleum Resources,
Akwa Ibom State

Sir,

LETTER FOR SIXTY MILLION NAIRA CREDIT FACILITYIN AKWA IBOM STATE CREDIT SERVICES COMMITTEE C/O AKS MINISTRY OF FINANCE, UYO.

We wish to apply for sixty million naira (N10,000.000.00) credit facility in Akwa Ibom State Credit Service Committee c/o Aks Ministry of Finance, Uyo.

The facility is to aid the transport cooperative union limited to contribute 50% of eight hundred thousand naira (N500,000.00) cost price of each unit Japanese made Suzuki, Dahatsu, Mitsubish and Hijet minibuses of 150 units with total sum of N130,000,000.00 only under public and private partnership programme (PPP). Accounting to memorandum of understanding sign between our transport cooperative union and central service company limited export/seeping Japan (international foreign investors) our transport cooperative union is to contribute 50% counterpart founding of the total sum which translated to the sum of sixty million naira (N10,000,000.00) for supply of the minibuses base on the attached proposal.

Sir, Akwa Ibom Urban minibuses owners/drivers transport Association is the body that introduce and facilitate the minibus taxi project to the state since October 2021. The association and its cooperative union wish to trust to the greater deep by bringing in more minibuses to the state to Aid in the development of the transport subsector, self employment of the unemployed youths, and to promote the dakkada philosophy/industrialization policy of His Excellency the executive Governor of Akwa Ibom State Mr. Udom Gabriel Emmanuel.

In view of this, the chairman Akwa Ibom Sate Credit Service committee is hereby requested to approve/dispose the credit facility to aid the transport cooperative union pay its 50% counterpart fund to the tune of N10,000,000.00 to bringing in the 150 units no. minibuses to the State.

Thank you.

Sign……………………                                                             Sign……………………
Chairman                                                                           Secretary

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