Letter of Credit
If you're looking to expand your business horizons, we can offer the backing a prospective partner will expect. A letter of credit is perfect for scenarios when you're embarking upon new large-scale or international business relations.
Rather than looking to a big, impersonal insurance company for a performance bond, look to someone in your own backyard, whom you trust, to vouch for their trust in you.
- Summary
- Ideal to guarantee payments on large purchases
- Available to suit your needs
- Typically issued for 1-year term or less
- Terms easily renewed
- Can replace need for insurance company performance bond
- Interest accrues only if beneficiary requests an advance
