Standby letter of credit: Difference between revisions
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imported>Doug Williamson (Layout and link with Advance payment guarantee page.) |
imported>Doug Williamson (Add link.) |
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A type of letter of credit: | 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 == | == See also == | ||
* [[Advance payment guarantee]] | * [[Advance payment guarantee]] | ||
* [[Contingent liabilities]] | |||
* [[Letter of credit]] | * [[Letter of credit]] | ||
Revision as of 10:38, 12 August 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.
