That depends on how your bank's documents are drafted and whether there is collateral. You will need:
>letter of credit application & agreement(these can be combined into one document)
>note(if not incorporated into the agreement} - this needs to state the interest rate to be paid if the LC is drawn upon.
>copy of the letter of credit issued
>credit approval document with proper signatures for $ amount
>appropriate collateral documents if secured
Is the LC an "evergreen" with annual or other periodic opportunity to issue notice of nonrenewal? If yes, it needs to be set up on a tickler in time for the notice to be issue. Of course, the bank needs to realize that as soon as the notice not to renew is issued,the LC will be drawn upon!
The LC should be set up on loan system to reflect exposure to the bank (off balance sheet item)