To Apply for a Refundable Municipal Letter of Credit:

 

In order to use any of our Letter of Credit products, you must first be enrolled in the Letter of Credit Program.  If you are not enrolled, complete the Irrevocable Letter of Credit Reimbursement Agreement [HLB-115].

 

After your institution is enrolled in the program, you may request a Refundable Municipal Letter of Credit by completing the Refundable Municipal Letters of Credit Issuance Application [HLB-118]. A copy of the Certificate of Deposit you issued to the Beneficiary or a statement of your Beneficiary’s Demand Deposit Account also must be supplied with the application. 

 

Within 5 business days of the maturity of the Refundable Municipal Letter of Credit, complete and fax the Refundable Municipal Letters of Credit Certification Form [HLB-118r].  If this form is not received within 5 business days of maturity, the reimbursement may be forfeited.

 

If you are new to the Letter of Credit Program, or would like us to assist you with your application, please contact a Calling Officer at (212) 441-6700 or e-mail us.