Articles

Letter of Credit (LC) and the ‘Standby Letter of Credit (SBLC) are used by Importers and Exporters in International Trade to ensure financial safety so that payment of the supplier is assured of payment once he has performed his obligation. While LC is used as a primary method of payment, Read more…

Standby Letter of Credit (SBLC) acts almost like a substitute for guarantee. SBLC is a guarantee to make payment in case of non-performance, which is issued by a bank on behalf of a client. Unlike Letter of Credit under which are primary method of payment, SBLCs are used as secondary Read more…