What is a standby letter of credit?-Standby letter of credit

First published at 06:33 UTC on March 29th, 2021.

A standby letter of credit is a guarantee of payment (various from a Docudrama L/C, which is an instrument of repayment). Made use of to guarantee the efficiency/ compliance of one of the celebrations to a business contract.
A standby letter of credi…

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