Embarking upon new large-scale or international business relations? Build a foundation based on trust and respect with a bank-backed letter of credit that can also yield lower costs in regard to insurance bonds.

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
  • Typically issued for 1-year term or less
  • Terms easily renewed
  • Fee is based on face value amount
  • Interest accrues only if we must make payment to beneficiary on your behalf