Question

Attempt the following:

Write a letter requesting the bank to issue a letter of credit.

Answer 1

M/S INNOVALUATION ELECTRONIC CO. LTD.
Registered Office: 45/7, Alpha House, Galaxy Road,
Nashik: 422 006.
CIN: L212208MH2021PL05689123

Tel. No. (022) 2422 2848
Fax No. (022) 2422 0202

Website: www.innoelectrocoltd.com
Email: [email protected]
Date: 1st August 2021

Ref. No. IE /491 /18 /18-19
The Bank Manager,
The Union Bank of India,
Galaxyn Road Branch,
Nashik - 422 006.

Sub: Issue of letter of credit
Ref - Our Current Account No.1895

Dear Sir,
We are pleased to inform you that we have secured an import license from the Central Government for the import of a variety of electronic goods from the United States.
After going through the quotations received from six leading exporters of the U.S. we have decided to place an order with S.R.M. Electronics, Los Angeles for the supply of different electronic goods worth 40,000 US dollars. We have been asked by them to send a Letter of Credit for the said amount.
We, therefore, request you to issue a Letter of Credit in favour of S.R.M. Electronics, Los Angeles for 40,000 US dollars. The said amount may be debited to our Current Account No. 1895 in your bank.

Kindly issue a letter of credit as early as possible.
Thanking you,

Your faithfully,
For M/s Innovaluation Electronic Co. Ltd

Sd./
Company secretary