Summary
The confirmation letter from Absa Bank outlines a revolving facility offer of ZAR 50 million to Limitless Horisen Pty Ltd. The letter specifies that the funds will be available once the terms of the Sales and Purchase Agreement (SPA) are met and all required documentation is provided. Absa Bank will maintain communication with China Citic Bank to ensure the payment of the Letter of Credit (LC). The bank emphasizes its commitment to supporting local businesses based on past performance and good standing. For a legally sound document, consulting a legal professional is recommended.Full Conversation
CONFIRMATION LETTER
* July *
TO WHOM IT MAY CONCERN
This letter serves to confirm that LIMITLESS HORISEN (PTY) LTD, Registration number */*/* has a Customer Revolving Facility Offer with Absa Bank.
Following our recent communication with China Citic Bank regarding your client, BNS Company Limited, we at ABSA have reviewed the Letter of Credit (LC) and are pleased to offer a revolving facility of R50 million to assist with your business operations.
Once the terms of the SPA are met and all required documentation is provided, these funds will be available. During this period, ABSA will ensure communication is maintained with China Citic Bank for the payment of the LC. This is an extra service to ensure our clients' needs are met.
Based on your past performance and good standing with ABSA, we are dedicated to supporting local businesses like yours.
Kind regards,
Hello Nihmal. I see that you've shared a confirmation letter from Absa Bank regarding a revolving facility. How can I assist you with this? Are there any specific legal questions or concerns you have about this letter or the agreement it describes?
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Below are the rephrased questions and responses:
Greetings, I'm FreeLawChat, here to provide you with legal guidance. Could I have your name, please? Answer: Nihmal
Pleasure to meet you, Nihmal. I'm here to help with your legal queries. Could you tell me more about the legal issue you're dealing with? Answer:
CONFIRMATION LETTER
* July *
TO WHOM IT MAY CONCERN
This letter is to confirm that LIMITLESS HORISEN (PTY) LTD, Registration number */*/*, has a Customer Revolving Facility Offer with Absa Bank.
Following our recent interaction with China Citic Bank about your client, BNS Company Limited, we at ABSA have reviewed the Letter of Credit (LC) and are happy to provide a revolving facility of R50 million to support your business operations.
Once the SPA terms are fulfilled and all required documentation is received, these funds will become accessible. During this time, ABSA will maintain communication with China Citic Bank for the LC payment. This is an additional service to cater to our clients' needs.
Given your past performance and good standing with ABSA, we are committed
Limitless Horisen Pty ltd
Hello Limitless Horisen Pty Ltd, I understand that you have a revolving facility offer from Absa Bank. Could you please clarify what kind of legal assistance or information you are seeking regarding this matter?
legal draft letter from ABSA
Hello Limitless Horisen Pty Ltd, it seems you're seeking a re-drafted version of a confirmation letter from ABSA bank. Here's a general blueprint:
* July *
TO WHOM IT MAY CONCERN
We hereby confirm that LIMITLESS HORISEN (PTY) LTD, Registration number */*/*, has a Revolving Facility Agreement with Absa Bank.
Upon recent communication with China Citic Bank, we have assessed the Letter of Credit (LC) for BNS Company Limited. ABSA is prepared to provide a revolving facility of ZAR * million to facilitate your operations.
When the Sales and Purchase Agreement (SPA) terms are upheld and all mandatory documents are submitted, the funds will be accessible. ABSA will maintain dialogues with China Citic Bank to ensure LC payment. We are dedicated to supporting local businesses like yours, as evidenced by your stellar performance and standing with us.
Kind regards,
Please consult a legal professional to ensure this revised letter meets your needs.
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