Standby letter of credit

From ACT Wiki
Jump to navigationJump to search
The printable version is no longer supported and may have rendering errors. Please update your browser bookmarks and please use the default browser print function instead.

(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