Standby letter of credit: Difference between revisions
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imported>Doug Williamson (Add link.) |
imported>Doug Williamson (Add alternative abbreviation. Source - The Treasurer - March 2022 - p43.) |
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(SLOC). | (SLOC, or SBLC). | ||
A type of letter of credit: | A type of letter of credit: | ||
Latest revision as of 22:02, 5 March 2022
(SLOC, or SBLC).
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.
