We are Top Providers of SBLCs- Standby Letters of Credit.
We are Top Providers of SBLCs- Standby Letters of Credit. A standby letter of credit (SBLCs), refers to a legal document that a financial service company undertakes and guarantees the payment of a specific amount of money to a seller if the buyer defaults on the agreement. A standby letter of credit helps facilitate international trade between companies that may not have been engage in a business transactions before. However SBLC guarantees payment to a seller , the agreement must be followed in exact terms. The beneficiary of a standby letter of credit is confident of performing a business agreement with a reliable financial service company capable of seeing the payment through. PERFORMANCE GUARANTEES These guarantees are issued for the performance of a contract or an obligation . In case, there is a default in the performance, non-performance or short performance of a contract, the beneficiary’s loss will be made good by the bank. Performance guarantees are mostly used in the cons