№ lp_2_3_22205
Template of an irrevocable standby letter of credit establishing the terms, conditions, governing rules, and certification procedures required by the State of Minnesota under the BEAD Program Notice of Funding Opportunity dated May 12, 2022.
Program: Broadband Equity, Access, and Deployment (BEAD) Program
Jurisdiction: State of Minnesota
Beneficiary: State of Minnesota, Minnesota Office of Broadband Development
Issuing Authority Referenced: National Telecommunications and Information Administration (NTIA), U.S. Department of Commerce
Related Document: BEAD Program Notice of Funding Opportunity, May 12, 2022
Note: Related Document State of Minnesota Initial Proposal Volume 2
Type of Document: Irrevocable Standby Letter of Credit Template
Subject: Financial security for BEAD Program requirements
Governing Rules: International Standby Practices 1998 (ICC Publication No. 590)
Applicable Law: Laws of the State of Minnesota, including the Uniform Commercial Code
Expiration Term: Six years from date of issuance or earlier termination by the State of Minnesota
Transferability: Not transferable or assignable
Draw Conditions: Presentation of draft and certificate as specified in Annexes A and B
Termination Condition: Certification by the State of Minnesota as specified in Annex C
Price: 8 / 10 USD
The file will be delivered to the email address provided at checkout within 12 hours.

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