Standby Letters of CreditFor smooth international transactions
A standby letter of credit can be issued as an alternative to a guarantee and to satisfy the requirements of the US market.
This has all the characteristics of a 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.
At a Glance
Improve your cash flow
Eliminate the need to provide your buyer with cash as security against any breach of the contract.