Letter of Credit (LOC) Account Set-Up and Payment Procedures
An Additional Help for ADS Chapter 636
Partial Revision Date: 12/21/2022
Responsible Office: M/CFO/CMP
File Name: 636sab_122122
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 (HHS).
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