A Guide to Standby Letters of Credit & Its Importance in The US

Trust is the only thing concerned when it comes to high-value transactions. Be it a construction contract, a large shipment, or a cross-border deal, when millions are concerned, you need more than a promise. Missed payments or defaults may hamper the entire business operation. This may be one reason why businesses rely on standby letters of credit, aka SBLCs. SBLCs offer financial...

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