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