--000000000000c75add0601536f4c Content-Type: text/plain; charset="UTF-8" Content-Transfer-Encoding: quoted-printable Would that be Ali Malik? On Tue, Jul 25, 2023 at 10:34=E2=80=AFAM Steve Koyanagi wrote: > Yes; that makes sense to me. Please work with them accordingly. > > On Tue, Jul 25, 2023 at 10:25=E2=80=AFAM Sean Cygan w= rote: > >> Hi Steve and Tim, >> >> Yesterday, when reviewing the application (Security - Irrevocable Letter >> of Credit) I was asked to reach Frank Stigter regarding the letter. >> >> When reviewing the instructions, I think this should be completed by >> finance and not by our insurance broker. I have also attached the >> template letter. >> >> Your thoughts? >> >> Sean >> >> >> >> Letter of credit requirements >> >> To be acceptable, the letter of credit must: >> >> - be made in favour of the Director of Employment Standards, >> - be issued by a bank in Canada or credit union >> - be electronic >> - be in the amount of $25,000 >> - be irrevocable so it cannot be recalled or repealed >> - automatically renew when it expires >> - permit =E2=80=9Cpartial drawings=E2=80=9D without any conditions, m= eaning that the >> Director of Employment Standards can, for reasons set out in the regu= lation >> and in accordance with the prescribed processes, demand and receive a >> payment less than the entire amount specified in the letter of credit >> - have no other conditions >> >> We recommend you use our template for irrevocable letters of credit >> to ensure your letter >> of credit meets all requirements. >> >> On Thu, Jul 13, 2023 at 9:23=E2=80=AFAM Sean Cygan w= rote: >> >>> Thank you >>> >>> On Thu, Jul 13, 2023 at 9:17=E2=80=AFAM Steve Koyanagi >>> wrote: >>> >>>> Sure; let's schedule a time next week. Thanks. >>>> >>>> On Thu, Jul 13, 2023 at 8:59=E2=80=AFAM Sean Cygan = wrote: >>>> >>>>> Hi Steve, >>>>> >>>>> Tim and I are working on a licensing for temporary help agencies and >>>>> recruiters application and it has some legal questions that we don't = know >>>>> the answers to. >>>>> >>>>> I have attached the questions and was wondering if we can set up a >>>>> time to meet? >>>>> >>>>> Sean >>>>> >>>>> -- >>>>> Sean Cygan >>>>> Compliance Associate >>>>> >>>>> 858-287-3077 >>>>> 7777 Fay Avenue Ste. 210 >>>>> La Jolla, CA 92037 >>>>> TheKey.com >>>>> [image: TheKey] >>>>> >>>> --000000000000c75add0601536f4c Content-Type: text/html; charset="UTF-8" Content-Transfer-Encoding: quoted-printable Would that be Ali Malik? =C2=A0 On Tue, Jul 25, 2023 at = 10:34=E2=80=AFAM Steve Koyanagi < skoyanagi@thekey.com > wrote: Yes; that makes sense to me. Please w= ork with them accordingly. On Tue, Jul 25, 2023 at 10:25=E2=80=AFAM Sean Cyg= an < scygan@thekey= .com > wrote: Hi Steve and Tim, Yesterday, when r= eviewing the application=C2=A0(Security - Irrevocable=C2=A0Letter of Credit= )=C2=A0 I was asked to reach Frank Stigter regarding=C2=A0the letter.=C2=A0= When reviewing the instructions, I think this sho= uld be comple