Standby Letters of Credit
A standby letter of credit is issued by a bank on behalf of a customer. The bank promises to pay a specified sum of money to a beneficiary upon presentation of required documents indicating our customer has defaulted or failed to perform under a contract or agreement.
Commercial Letters of Credit
A commercial letter of credit is an instrument issued on behalf of a customer whereby the bank promises to pay a specified sum of money to a beneficiary upon presentation of required documents.
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