Standby letter of credit – Is it a backup plan for ensuring payment(WordPress)

You can’t deny the fact that things may go wrong anytime during any transactions and hence standby letters of credit are kept in place to add a safety net on payments and transactions. Regardless of whether the fee charged is for the shipment of physical goods or a standby letter of credit, a standby letter of credit can always a wise and smart option for a buyer and a seller.

Voted by:

• Category: Business
• Tags: financial service