Form DMM-108 "Irrevocable Standby Letter of Credit" - Virginia

What Is Form DMM-108?

This is a legal form that was released by the Virginia Department of Mines, Minerals and Energy - a government authority operating within Virginia. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • Released on May 1, 2016;
  • The latest edition provided by the Virginia Department of Mines, Minerals and Energy;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a printable version of Form DMM-108 by clicking the link below or browse more documents and templates provided by the Virginia Department of Mines, Minerals and Energy.

ADVERTISEMENT
ADVERTISEMENT

Download Form DMM-108 "Irrevocable Standby Letter of Credit" - Virginia

Download PDF

Fill PDF online

Rate (4.4 / 5) 53 votes
DIVISION OF MINERAL MINING
900 NATURAL RESOURCES DRIVE, STE 400
CHARLOTTESVILLE, VA 22903
(434) 951-6310
IRREVOCABLE STANDBY LETTER OF CREDIT
Permit Number:
Bond:
Irrevocable Standby Letter of Credit Number: ________________________ Date: ______________________
Bank Name
Commonwealth of Virginia
(Name,
Department of Mines, Minerals, and Energy
Address &
Division of Mineral Mining
Telephone
900 Natural Resources Drive, Suite 400
Number)
Charlottesville, VA 22903
DMM Representative:
In accordance with 4VAC25-31-260.C. of the Virginia Administrative Code, we hereby issue our Irrevocable Letter of
Credit (on certain designated funds) in your favor for the account of (must state the exact name that appears on the permit)
_____________________________________________________________________________________________________
[CHECK ONE ONLY]:
Permit Application Number or
Permit Number ___________________
for the sum or sums not to exceed a total of _____________________________________________________________
U.S. Dollars ($ USD __________________ ) available by your draft on us at sight.
This Letter of Credit will expire at our counters on ____________________________________________________
It is a condition of this Letter of Credit that it will be automatically extended for additional periods of one (1) year from
the present or each future expiration date unless we have notified you in writing, not less than thirty (30) days before the
annual expiration date that we elect not to renew this Letter of Credit. The Notice of such election shall be sent by registered
mail, return receipt requested, and received by the Director of the Division of Mineral Mining (hereafter referred to as
“DMM”), 900 Natural Resources Drive, Suite 400 (or any change of address provided by the DMM hereafter to us): or we
may hand deliver the written Notice to, and obtain a written, dated receipt from the Director of DMM at the DMM’s
Charlottesville office.
This credit is subject to the Uniform Customs and Practice for Documentary Credits
We further agree that unless expressly stated otherwise herein, the terms and obligations represented by this credit
shall be governed by the Uniform Commercial Code of the Commonwealth of Virginia and /or any other pertinent
Virginia law. We agree that the proper forum for trial of any dispute involving our liability to the Commonwealth of
Virginia, Department of Mines, Minerals and Energy, Division of Mineral Mining, on this Letter of Credit shall lie in
Virginia, pursuant to our intent hereby to do business in the Commonwealth of Virginia.
The letter of credit shall be payable to the division at sight, in part or in full.
Attached hereto is a certified copy of the Corporation’s Resolution authorizing the undersigned to execute this Letter of
Credit on behalf of _____________________________________________________________________ (name of Bank).
Rev 05/16
1 of 2
DMM-108
DIVISION OF MINERAL MINING
900 NATURAL RESOURCES DRIVE, STE 400
CHARLOTTESVILLE, VA 22903
(434) 951-6310
IRREVOCABLE STANDBY LETTER OF CREDIT
Permit Number:
Bond:
Irrevocable Standby Letter of Credit Number: ________________________ Date: ______________________
Bank Name
Commonwealth of Virginia
(Name,
Department of Mines, Minerals, and Energy
Address &
Division of Mineral Mining
Telephone
900 Natural Resources Drive, Suite 400
Number)
Charlottesville, VA 22903
DMM Representative:
In accordance with 4VAC25-31-260.C. of the Virginia Administrative Code, we hereby issue our Irrevocable Letter of
Credit (on certain designated funds) in your favor for the account of (must state the exact name that appears on the permit)
_____________________________________________________________________________________________________
[CHECK ONE ONLY]:
Permit Application Number or
Permit Number ___________________
for the sum or sums not to exceed a total of _____________________________________________________________
U.S. Dollars ($ USD __________________ ) available by your draft on us at sight.
This Letter of Credit will expire at our counters on ____________________________________________________
It is a condition of this Letter of Credit that it will be automatically extended for additional periods of one (1) year from
the present or each future expiration date unless we have notified you in writing, not less than thirty (30) days before the
annual expiration date that we elect not to renew this Letter of Credit. The Notice of such election shall be sent by registered
mail, return receipt requested, and received by the Director of the Division of Mineral Mining (hereafter referred to as
“DMM”), 900 Natural Resources Drive, Suite 400 (or any change of address provided by the DMM hereafter to us): or we
may hand deliver the written Notice to, and obtain a written, dated receipt from the Director of DMM at the DMM’s
Charlottesville office.
This credit is subject to the Uniform Customs and Practice for Documentary Credits
We further agree that unless expressly stated otherwise herein, the terms and obligations represented by this credit
shall be governed by the Uniform Commercial Code of the Commonwealth of Virginia and /or any other pertinent
Virginia law. We agree that the proper forum for trial of any dispute involving our liability to the Commonwealth of
Virginia, Department of Mines, Minerals and Energy, Division of Mineral Mining, on this Letter of Credit shall lie in
Virginia, pursuant to our intent hereby to do business in the Commonwealth of Virginia.
The letter of credit shall be payable to the division at sight, in part or in full.
Attached hereto is a certified copy of the Corporation’s Resolution authorizing the undersigned to execute this Letter of
Credit on behalf of _____________________________________________________________________ (name of Bank).
Rev 05/16
1 of 2
DMM-108
All drafts drawn under this credit shall state that they are, “Drawn under Letter of Credit No. ____________________
dated _________________[CHECK ONE ONLY]:
Permit Application No._______ or
Permit No. _____________
We hereby agree that drafts drawn under and in compliance with the terms of the Irrevocable Letter of Credit will be duly
honored on due presentation to the Drawee.
By: _______________________________________________________Title_______________________________________
Signature of Person Executing Instrument
Notarizing the Signature of: _________________________________________ Title________________________________
For Irrevocable Letter of Credit Number: _____________________________ Dated: _____________________________
Notarization:
Subscribed and sworn to before me by, ____________________________________, this _____day of ___________, 20___ , in the State of
________________________________, in the City/County of ____________________________________
________________________________________ (Seal) ______________________________________, Notary Public
Notary Public Name (printed or typed)
Notary Public Signature
My Commission Expires _______________________, 20 _____ Notary Registration No. _________________________
DMM Approval Date: _____________________ By: ______________________________________________________
Rev 05/16
2 of 2
DMM-108
Page of 2