Aurora, IL · Kane County
Irrevocable Standby Letter of Credit
This letter of credit secures public improvements and stormwater facilities in a subdivision, and is issued in favor of the City of Aurora.
What this form is
This irrevocable standby letter of credit secures payment for installing public improvements and stormwater management facilities in a subdivision. The issuer provides information including the applicant, amount, effective and expiration dates, subdivision, developer, and engineering consultant. It describes conditions for payment and provisions for expiration, renewal, extension, or replacement.
Who needs it
An issuer providing financial security for subdivision improvements and stormwater facilities constructed by a developer for the City of Aurora needs this letter.
How to submit it
Submit it to the city department named on the form; check the city website for current contact details.
About notarization
This document is signed without a notary; the issuer just signs and dates it.
How to submit this form
- 1
Download the Letter
Download the Irrevocable Standby Letter of Credit for Aurora.
- 2
Complete the Letter
Provide the issuer, applicant, amount, effective and expiration dates, subdivision details, and other information requested.
- 3
Review the Project Details
Use the approved plans and specifications and provide the developer and engineering consultant details requested in the letter.
- 4
Submit to the City
Submit it to the city department named on the form; check the city website for current contact details.
Frequently asked questions
- What does the Irrevocable Standby Letter of Credit secure?
- It secures payment for installing public improvements and stormwater management facilities in a subdivision constructed by a developer.
- Who provides this letter of credit?
- The issuer completes and signs the letter in favor of the City of Aurora, providing details such as the amount, dates, applicant, and subdivision.
- Do I need a notary for the Irrevocable Standby Letter of Credit?
- No. This document is signed without a notary; the issuer just signs and dates it.
- How do I submit the letter of credit?
- The document does not give submission instructions for the initial letter. Submit it to the city department named on the form; check the city website for current contact details.