What are the Differences Between Standby Letters of Credit and Commercial Letters of Credit?
Standby letters of credit and commercial letters of credit are two main documentary credit types used in international trade transactions.
A standby letter of credit...
Types of Standby Letters of Credit
What are the Main Types of Stand-by Letters of Credit?
In this post after giving the standby letter of credit (SBLC) definition, we will have...
Stand-by Letters of Credit
Classification of Letters of Credit
Documentary credits, however named, have certain characteristics in common.
First of all, they are separate transactions by their nature from the...
What are the Differences Between MT 700 and MT 760?
MT700 and MT760 swift message types that banks use when issuing documentary credits and guarantees, respectively.
Banks use MT700 when issuing a commercial letter...
Types of Letters of Credit
Have you ever heard any of the following trade finance terms and wonder their meanings: red clause, confirmed, standby, irrevocable.
These are the terms that...
Standby Letter of Credit Sample in Swift Format
A standby letter of credit is the bank's undertaking of fulfilling the applicant's obligations.
A standby letter of credit is issued as collateral and is...
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