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 What is a standby letter of credit?

Answer A standby letter of credit, or SLOC, is a written document that banks issue as assurance the bank will pay a beneficiary money owed by the bank's client if the client doesn't pay himself.Significan... Read More »
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Top Q&A For: What is a standby letter of credit

Difference Between a Letter of Credit & a Standby Letter of Credit?

A letter of credit and a standby letter of credit are similar services offered by banks to aid financial transactions between buyers and sellers. The bank issuing either of these letters guarantee... Read More »
http://www.ehow.com/facts_6837562_difference-_amp_amp_-standby-letter-credit.html

The Definition of a Standby Letter of Credit?

A standby letter of credit is a service offered by banks to facilitate financial transactions between businesses or organizations. It provides security by bolstering the credit for one party and pr... Read More »
http://www.ehow.com/facts_6853918_definition-standby-letter-credit.html

Standby Letter of Credit Defined?

A standby letter of credit is a written obligation by a bank to pay a certain amount of money on a customer's behalf if the customer doesn't pay. It is written in favor of a beneficiary. These lett... Read More »
http://www.ehow.com/facts_6819173_standby-letter-credit-defined.html

What is the fee for a letter of credit?

The fee for a letter of credit is noted as a percentage of the amount needed and is expressed as a percentage, typically around 1% to 2%. There are often minimum charges, as the letter of credit is... Read More »
http://www.answerbag.com/q_view/2045798


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