What is Standby letter of credit (SBLC) & It’s Benefits
Standby letter of credit (SBLC) including Bonds, SBLC’s, BG’s, LC’s or SKR’s to fund projects is on the rise. s a guarantee of payment which is also called as a documentary letter of credit issued by a bank on behalf of a client if he/she fail to fulfill a contractual commitment with a third party. A key principle to remember with the Standby Letter of Credit is banks deal only in documents or goods and do not involve themselves in the commitments.
The Benefits of Leasing an SBLC •It’s
•It’s
very good for trade finance
a good to give the Seller comfort should the Buyer not pay for goods received