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Stand By Letter of Credit  

Standby Letter of Credit

Let us help you ensure your business transactions go exactly as planned.

Reduce your risk when buying or selling merchandise around the world by guaranteeing that payments will be made when specified terms and conditions are met. A letter of credit is issued to business owners who want the assurance that transactions will take place as they have planned, especially when dealing with suppliers or vendors from outside the U.S.

What’s in it for you:

  • Reduce the risk of buying and selling products-especially internationally
  • Disbursement made one-time, for the full or partial amount
  • Flexible and easy to meet one-time or unusual credit needs
  • Terms are normally one year or less and may be annually renewed
  • Collateral includes accounts receivable, business assets, equipment, real estate, cash and equivalents, and personal guaranty
  • Payable on demand in the event of a draw on the letter of credit
  • Conditional assurance of prompt payment for shipped goods and protection against buyers rejection of your shopped merchandise

Contact a Business Banker

Additional Benefits:

  • No matter what your business needs are we have a Business Loan to fit your needs.
  • Our wide range of Cash Management solutions will save your business time and money by automating your account to maximize your cash flow.

Still have questions?  Email Us  |  Visit your neighborhood branch.  |  877.672.2265
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Routing Number: 275071356    Customer Service: 877.672.2265
Routing Number: 275071356 | Customer Service: 877.672.2265 | Member FDIC | Copyright North Shore Bank