Standby letter of credit: Difference between revisions
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imported>Doug Williamson (Add link.) |
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* [[Contingent liabilities]] | * [[Contingent liabilities]] | ||
* [[Letter of credit]] | * [[Letter of credit]] | ||
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[[Category:Long_term_funding]] | [[Category:Long_term_funding]] | ||
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.
