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Home > Business > Business Loans > Letter of Credit
Letter of Credit
A Letter of Credit is issued by a bank to facilitate certain business transactions. We issue two types of Letters of Credit.

Commercial (import) Letters of Credit, most frequently used in international trade for import transactions, facilitates the purchase of sales of merchandise by guaranteeing that the seller will receive payment if the buyer receives the merchandise as specified in the contract.

Standby Letters of Credit, most frequently used in domestic transactions, is issued to secure a customer's performance or financial obligation to another party. Standby Letters of Credit are not intended to be drawn on, except in the event that the applicant defaults under their obligations to the beneficiary.

We advise and negotiate Export Letters of Credit. We are also available to assist you with understanding the terms of Letters of Credit. 		Rewards Checking
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