Standby letter of credit

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Revision as of 22:02, 5 March 2022 by imported>Doug Williamson (Add alternative abbreviation. Source - The Treasurer - March 2022 - p43.)
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(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.

See also