How SBLC work:

 A breakdown of SBLC types is provided below:


1. A performance standby – backs a commitment to perform other than to pay money/funds and includes an obligation to pay for loses occurring from a default of the buyer in the process of completing an underlying transaction.

2. An advance-payment standby – supports an obligation to account for an advance payment made by the supplier to the buyer.

3. A bid-bond or tender-bond standby – backs an obligation of the buyer to execute a contract if the buyer is awarded a bid.

4. A counter standby – backs the issuance of another, separate standby letter of credit or other undertaking by the supplier of the counter standby.

5. A financial standby – supports an obligation to pay funds, including any instrument evidencing an obligation to repay borrowed money.

6. An insurance standby – supports an insurance obligation of the applicant.

7. A commercial standby – backs the commitment of a buyer to pay for goods or services in the event of non-payment by other methods.

8. A direct-pay standby – intended to be the primary method of payment. It may or may not be linked to a default in performance or payment.

For our service,

Contact:
Jason Gavin
Email: jasongavin44@gmail.com
Telephone: + 44 7452 390049
Twitter: @JasonGa58390383






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