Letter of Credit (LC)
A Letter of Credit is a bank’s guarantee for payment, up to a set amount. The letter promises the beneficiary that the bank will assume responsibility for a debt or sale.
Documentary Letters of Credit
- Documentary letters of credit are involved in international commercial transactions. The Letter ensures payment, provided that the terms and conditions of the credit have been met.
Standby Letters of Credit
- Standby letters of credit guarantee contractual obligations for a third party. If an unseen development prevents the contract from being fulfilled, the bank guarantees payment, thereby eliminating risk to the third party.
As a strategic partner in the growth of your business, we'll work to determine your needs and objectives to structure the best letter of credit.