Empowering Smooth Payments To Global Importers & Exporters With Standby LC Service

Are you a global trader involved in international business but often miss-out on overseas opportunities due to the threat of associated overseas risks, for example, the unfamiliarity of parties, non-payment or delayed payment, etc.? With a standby letter of credit service, the exporters can eliminate their risks of non-payment or non-performance on the hands of the importer and can be assured an on-time payment for their delivered goods & services. Also, the importers can get their ordered goods & services on-time. Emerio Banque - a leading, trusted, popular, and recognized financial institution facilitating international trade transactions with its range of trade finance services including a standby LC service. But what is a standby letter of credit?

 

A Standby LC is a legal financial document issued by a bank or any financial institution guaranteeing an on-time payment to the exporter for their delivered goods & services only if the buyer defaults as long as the terms & conditions of the contract are fulfilled by the seller. In general words, it is a promise made by the issuing bank to the beneficiary on the behalf of its client ie. the applicant to undertake the risk of payment only if the seller fulfills the condition of the BG agreement. It is an effective way to secure performance and payment in the international market for exporters. A Standby LC service is widely used in large-scale business transactions that involve a high-value project.  

Related Read: Also checkout the FAQ about letter of credit

If you also seek to mitigate the global trade transaction risks with the issuance of a standby letter of credit, you can contact Emerio Banque. With our highly-skilled, professional, and expert team of financial advisors, we are offering top-notch standby LC services for both domestic and international markets in such a way that assures your clients of your strong financial capability to release their payment on-time. Some of the standby LCs that we provide include Financial SBLC and Performance SBLC.