Closed and Standby letter of credit: Difference between pages

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imported>Doug Williamson
(Created page with "1. Not open to new entrants or members. For example, a ''closed pension scheme.'' 2. Restricted to a limited category of people or applicants. For example, a ''closed sh...")
 
imported>Doug Williamson
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1.
(SLOC).


Not open to new entrants or members.
A type of letter of credit:
 
*Issued to ensure the financial performance of a bank’s customer to a third party beneficiary; and
For example, a ''closed pension scheme.''
*Drawn upon only in the event of non-performance.
 
 
2.
 
Restricted to a limited category of people or applicants.
 
For example, a ''closed shop.''
 
 
3.  ''Economics.''
 
Not open to trading with other economies.




== See also ==
== See also ==
* [[Close ]]
* [[Advance payment guarantee]]
* [[Closed economy]]
* [[Contingent liabilities]]
* [[Closed life consolidator]]
* [[Letter of credit]]
* [[Closed pension scheme]]
* [[Off balance sheet risk]]
* [[Closed period]]
* [[Closed shop]]
* [[Closing]]
* [[Closure]]
* [[Member-administered closed user group]]


[[Category:Accounting,_tax_and_regulation]]
[[Category:Long_term_funding]]
[[Category:The_business_context]]
[[Category:Manage_risks]]
[[Category:Risk_frameworks]]
[[Category:Trade_finance]]

Revision as of 18:48, 11 November 2016

(SLOC).

A type of letter of credit:

  • Issued to ensure the financial performance of a bank’s customer to a third party beneficiary; and
  • Drawn upon only in the event of non-performance.


See also