Topic: Explain a Standby Letter of Credit
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Answers to Common Questions
What is a Standby Letter of Credit?
A standby letter of credit also known as SLC or LC is a written obligation. It is when the bank promises to pay monies back to the beneficiary. They do this in case the the customer does not pay the beneficiary back monies owed. For more in... Read More »
Source: http://answers.ask.com/Sports/Other/what_is_a_standby_letter_of_c...
What is the different between letter of credit and standby letter...
A letter of credit is used as a method to facilitate payment of international trade transactions (ie: the import/export of goods/services). Unlike a trade letter of credit, a standby letter of credit is NOT meant to be used for payment. A s... Read More »
Source: http://wiki.answers.com/Q/What+are+the+functions+of+letter+of+cre...
What is the practical difference if any between an irrevocable le...
In practical terms the standby LC should be viewed more as a commercial guarantee supported by the bank rather than the prime term of trading A standby letter of credit ("Standby") is an irrevocable, binding undertaking by an Issuer (genera... Read More »
Source: http://wiki.answers.com/Q/Difference+between+revocable+and+irrevo...
More Common Questions
Answers to Other Common Questions
Just be honest about the life circumstances that lead to your poor credit. Even if it was a total disregard for your personal credit just be honest,Remember it snot for the loan officer is is for the underwritierA good loan officer will go ...
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Source: http://wiki.answers.com/Q/How_do_you_compose_a_letter_to_explain_...
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A Standby Letter of Credit (SLC) is a document issued by a bank that guarantees payment to the beneficiary in the event the applicant fails to fulfill an obligation (i.e. contract performance). The SLC will stipulate the requirements for ma...
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Source: http://answers.yahoo.com/question/index?qid=20070414095341AAn5yQe
Letter of Explanation. Lenders sometimes require this. For example: medical collection account I was rushed to the hospital in an abulance one year ago. My insurance didn't cover it, so the hospital put me in collection. I'm currently in pr...
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Source: http://answers.yahoo.com/question/index?qid=20060922074909AAGE3U3
a prequalification letter
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Source: http://answers.yahoo.com/question/index?qid=20111127040212AAKYjNo
AFFORDABLE CHEAP LOAN....... AFFORDABLE CHEAP LOAN....... AFFORDABLE CHEAP LOAN I am Mr Lam Lee the C.E.O of Lam Loan Firm. A certified, reputable, legitimate & an accredited private lender. I loan money out to individuals in need of financ...
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Source: http://answers.yahoo.com/question/index?qid=20100317074029AAYXFJo
I suggest you try this CreditManagementWorld.com . They have information on the different types of letters of credit. Source(s): http://www.creditmanagementworld.com
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Source: http://answers.yahoo.com/question/index?qid=20080906105820AADJ60O
