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Standby Letter of Credit
Product Overview
Standby Letter of Credit is intended for in the event of non-performance of contractual obligation. It is added security to the importer that their order will be processed and to the exporter that their shipment will be paid accordingly.
Product Benefits
- In case of import, it gives your suppliers payment assurance to accept open account trading.
- In case of export, it gives your buyer performance assurance
- HSBC uses its trade expertise and broad international network to ensure safety of the transaction
Product Features
- Variable terms
- Drawings under standby credits are usually made by means of a simple declaration of non-performance accompanied by minimal supporting documentation
Act now
Please contact the Commercial Customer Service Centre at 1588-7639 or visit a Commercial Banking Centre for more details.
