An undertaking of payment by a reliable third party is required to provide confidence and peace of mind to your creditor.
Standby Documentary Credit (Standby DC) Service:
We can issue a Standby DC (or Standby LC) which is our undertaking to pay your beneficiary in case of your default.
Standby DC may be used for different purposes, including:
- Covering non-performance or default on a underlying transaction
- Guarantee by a parent company for credit facilities given to its subsidiaries
- Supporting an importer's open account purchases
- Serving as bid or tender bonds
- Covering advance payment of a trade transaction