For example, a delay in shipping or misspelling a company's name can lead to the bank refusing to make the payment. There are two main types of standby letters of credit: A financial SLOC ...

Performance standby letters of credit, for example, may be issued to a developer to guarantee a contractor's satisfactory fulfillment of a construction contract. A Federal Reserve letter notes ...

A standby letter of credit (SLOC) is a financial instrument ... include virtually anything agreed upon by the buyer and seller. Examples of usual documentation include invoice and packing list ...

It can be useful if there are frequent merchandise shipments, for example, and you don't want to redraft or edit letters of credit each time. A standby letter of credit provides payment if ...

A Michigan man was sentenced to 10 years in prison for his roles in running an advanced fee scheme involving phony Standby Letters of Credit supposedly issued by European banks. His co-defendant ...

These deposits take one of two forms: cash held by the landlord (“cash deposits”) or Standby Letters of Credit (“SBLC”). A cash deposit sits in a landlord’s bank account and either gets ...

The Inter-national Stand-by Practices (ISP) provide separate rules for standby letters of credit in the same way that the Uniform Customs and Practice for Documentary Credits and the Uniform Rules ...

One of the most important instruments of security in this trade is the standby letter of credit. If you are a potential investor and want to turn your project idea into reality then here is how to.