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A standby letter of credit can be issued as an alternative to a cross-border guarantee and to satisfy the requirements of the U.S. market.
A standby letter of credit has all the characteristics of a cross-border guarantee except that it must have an expiry date, which can be extended at regular intervals at the option of the exporter, to satisfy the requirements of the buyer.
Contact us or visit your nearest Scotiabank branch for more information about Standby Letters of Credit, and how you can easily transfer your existing business to Scotiabank.
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