Letter of credit usage has adapted to meet various ... expires five years after issuance (UCC § 5-106(d)); and an evergreen letter of credit renews automatically for an indefinite number of ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Robert Kelly is managing director of XTS Energy LLC, and has more than three decades of ...

Enter a standby letter of credit (SLOC). This document, provided by a bank, guarantees that a sale or project will be completed as promised. The backing bank will only pay out in the event of a ...