Legal Forms, Documents and Contracts

Over 4550 free forms and legal documents. Find and download the one you need!

Florida Irrevocable Letter of Credit Motor Vehicle Dealer

In the case of a principle of a motor vehicle dealership wanting to fulfill a condition that is required for his dealership to be recognized in the State of Florida, the following letter has to be completed and submitted.

Download

Extracted Text for Proper Search

STATE OF FLORIDA               IRREVOCABLE LETTER OF CREDIT 
DEPARTMENT OF HIGHWAY            MOTOR VEHICLE DEALER  
SAFETY and MOTOR VEHICLES                  
2900 APALACHEE PARKWAY               
ROOM A312, Mailstop #65                    
TALLAHASSEE, FLORIDA 32399 -0500                      
  
 	
 	
IRREVO	CABLE LETTER OF CREDIT NUMBER:	  ___________________________________________	 	
 
 	This letter of credit is issued by _________________________________________________________,  
authorized to do business in the state of Florida as  a bank (hereinafter “the Bank”) at the request of 
____________________________________________  	
(hereinafter "the Principal"), to allow the Principal to 
fulfill a condition precedent to his appointment as a motor vehicle dealer by the Department of Highway  Safety 
and Motor Vehicles (hereinafter "the Department").  The Principal shall deliver annually to the Department a 
surety bond or irrevocable letter of credit for the license period for the protection of any person in a retail or 
wholesale transaction wh o shall suffer any loss as a result of the Principal's failure to comply with the 
conditions of any written contract made by such Principal in connection with or as a result of any violation of 
the provisions of Chapter 319 or 320, Florida Statutes, in the conduct of business as a motor vehicle dealer. 
 	
 	The Bank agrees to honor demands for payment by any person suffering a loss as specified above.  	
Provided, however, that the aggregate liability of the Bank hereunder shall, in no event, in any one year, ex ceed 
$25,000. 
  This letter becomes effective as of _______________________,  ______ in support of a license issued 
for the term ending ________________________,  ______ and may be continued by certificate each year in 
support of any license issued for any subsequent year.  
 
 
  
 
_______________________________________________________       ___________________________________________________________  
NAME OF DEALERSHIP   SIGNATURE OF BANK OFFICER 
 
________________________________________________________  ___________________________________________________________  
SIGNATURE OF PRINCIPAL   TITLE             
 
________________________________________________________  ___________________________________________________________  
TYPED OR PRINTED NAME   BANK 
 
________________________________________________________  ___________________________________________________________  
DEALERSHIP ADDRESS   ADDRESS 
 
________________________________________________________  ___________________________________________________________  
CITY                                     STATE                                      ZIPCODE   CITY         STATE                      ZIPCODE  
 
  _________________________________________________________ 
  BANK TELEPHONE NUMBER   
 
  (BANK SEAL) 
 
 
 
HSMV 86057 (Re v. 08/11)
Relevant article from our knowledge database

The letter of employment needs to have a very simple format. Don't forget this type of letter is composed of three distinct pieces. Therefore it is important to compose an extremely nice and convincing letter that will assist friends and family, colleagues, deputies, and superiors.
Read more

As said above, the stipulations might not be the exact same for all. If you're one of individuals who are fighting to come to terms with your debts, and are thinking of charge card debt settlement, pick up the telephone and get in touch with your creditor. In such cases, it's far better negotiate credit terms with your vendor.

In case you have at least two debts, then it's an excellent concept to consolidate these loans after carefully thinking about the scenario. Loans are now very commonplace now. If you intend to borrow or lend financing, it's always far better to go for a written loan agreement that clearly states the stipulations. Unsecured loans aren't secured by any asset for instance a home, jewelry, car, etc.. The lending company therefore doesn't have any means to recover the loan in the event the borrower makes the decision to renege from his commitment to pay back the loan. Whichever option you can choose, it's always more advisable to communicate with your creditor.

Next: Florida Insurance Affidavit Previous: Florida Irrevocable Letter of Credit Mobile Home Dealer
If you want to remove Florida Irrevocable Letter of Credit Motor Vehicle Dealer from this website please contact us providing the reasons together with this url: https://formsarchive.com/florida-irrevocable-letter-of-credit-motor-vehicle-dealer/