A letter of credit is ideal for scenarios when you're embarking upon new large-scale business relations.

Details
  • Provides guarantee on payments obligations of large purchases to third parties
  • Can replace the need for costly insurance company performance bond
  • Can also be used to guarantee a service
  • Typically issued for 1-year term or less
  • Terms easily renewed
  • Fee is based on face value amount
  • Interest accrues only if we must make payment to beneficiary on your behalf