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What is Stand by Letter of Credit ? How it Works ? How it differs from other Kinds of L/c?


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Old 06-14-2008, 01:35 AM
gonorth gonorth is offline
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Default What is Stand by Letter of Credit ? How it Works ? How it differs from other Kinds of L/c?

A standby letter of credit is essentially a Guarantee from the issuing bank to the (usually) exporter. It's "standby" because the events which will trigger payment aren't tied to a specific order.
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Old 06-14-2008, 01:35 AM
madeinchina madeinchina is offline
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Default What is Stand by Letter of Credit ? How it Works ? How it differs from other Kinds of L/c?

What is Stand by Letter of Credit ? How it Works ? How it differs from other Kinds of L/c?
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