Standby letter of credit: Difference between revisions
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A type of letter of credit issued to ensure the financial performance of a bank’s customer to a third party beneficiary and is drawn upon only in the event of non-performance. | A type of letter of credit issued to ensure the financial performance of a bank’s customer to a third party beneficiary and is drawn upon only in the event of non-performance. | ||
== See also == | == See also == | ||
* [[Letter of credit]] | * [[Letter of credit]] | ||
[[Category:Bank_Lending]] | |||
Revision as of 08:35, 9 October 2013
A type of letter of credit issued to ensure the financial performance of a bank’s customer to a third party beneficiary and is drawn upon only in the event of non-performance.
