Standby Letter Of Credit (SBLC) Guide - Axios Credit Bank
What Is A Standby Letter of Credit?
Standby LC is a type of letter of credit where the issuing bank guarantees an on-time payment to the seller if the applicant/buyer is unable to make the payment provided that the seller meets all the mentioned terms & conditions in the SBLC contract. It is also known as SBLC and acts as a safety net for the sellers to ensure a complete payment for the delivered goods & services to the buyer.
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