We, the undersigned Bank Officers, hereby confirm with full responsibility that the amount of US$______________ (United States Dollars___________) is reserved in this bank at the request of (buyer's name)________________ for the finalization of contract for the purchase of (product)______________.
These funds are available for the purchase of the above identified product. In this regard the funds can be converted into a Confirming, Revolving, Divisible, Irrevocable, Fully transferrable and callable Letter of Credit with a top 60 Prime World Bank Payment Guarantee. This information may be verified on a Bank to Bank basis via Key Tested Telex only.
In issuing this statement, the bank recognizes their liability in accordance with the terms of the contract should it proceed.
Name of Bank officer #1: ________________________________
Signature: ___________________ Printed Name ________________
Name of Bank Officer #2: ____________________________________
Signature: _____________________ Printed Name _________________