FDIC-Insured - Backed by the full faith and credit of the U.S. Government
Standby Letter of Credit
Let us help you ensure your business transactions go exactly as plannedReduce your risk when buying or selling merchandise around the world by guaranteeing that payments will be made after 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 United States.
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
