City of Charleston Council Meeting Agenda March 16 2026
WesBanco to Provide $705K Letter of Credit for City Workers’ Comp
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Description
Charleston City Council approved an agreement with WesBanco, Inc. for a $705,000 standby letter of credit to provide collateral for workers’ compensation claims, effective March 31, 2026. The cost is $3,925, subject to legal review.
Contract Details
Contract Amount
$3,925 fee (0.5% of $705,000 letter of credit plus $400 documentation fee)
Vendor
WESBANCO INC
Agency
City of Charleston, WV
Contract Type
FINANCIAL_SERVICES
Document Date
March 16, 2026
Contract Term
Standby letter of credit starting March 31, 2026 (term not specified)
Renewal Info
Term not specified in the resolution; no explicit renewal clause stated.
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