Letter of Credit (LOC) Account Set-Up and Payment Procedures

An Additional Help for ADS Chapter 626

Partial Revision Date: 12/05/2018
Responsible Office: M/CFO/FPS
File Name: 636sab_120518

Overview

The Letter of Credit (LOC) is an advance payment method that authorizes grant recipients to request an electronic drawdown/advance of funds approved by USAID’s agreement officers via award documents. USAID has outsourced its LOC award drawdown/advances and reporting services to the U.S. Department of Health and Human Services (DHHS).