What is a Standby Letter of Credit? (SBLC/SLOC)

Описание к видео What is a Standby Letter of Credit? (SBLC/SLOC)

A Standby Letter of Credit is basically a document that is issued by the bank that guarantees payment between two parties if one of them defaults on payment in a transaction.

It is mainly used in international trade and agreements where two parties of a transaction don’t know each other well, and is there to facilitate trust between them.

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