Standby letters of credit are a type of letter of credit. The common feature of all letters of credit is an undertaking by a bank to pay the beneficiary of the letter of...
This Practice Note deals with on demand guarantees and bonds. (It does not deal with conditional guarantees and bonds which are usually provided by insurance companies...
The terminology surrounding on demand guarantees and bonds can be confusing. On demand guarantees and on demand bonds typically perform the same function and share the...
[TO BE PRINTED ON THE HEADED PAPER OF THE ISSUING BANK] To: [insert name and address of beneficiary] Date: [insert date] Dear [insert organisation name] Standby letter of...
Standby letters of credit (also known as standby credits) are a type of letter of credit. They are used in similar circumstances to on demand guarantees or performance...