A letter of credit can provide your business with extra credential support to enhance your business opportunities.
Key Features
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Competitive Rates
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Quick Decisions
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Local Processing
Details
- Provides guarantee on payments of large purchases to third parties
- Can replace need for costly insurance company performance bond
- Can also be used to guarantee a service
- Fee is based on face value amount
- Interest accrues only if we must make payment to beneficiary on your behalf