You can’t deny the fact that things may go wrong anytime during any transactions and hence standby letters of credit are kept in place to add a safety net on payments and transactions. Regardless of whether the fee charged is for the shipment of physical goods or a standby letter of credit, a standby letter of credit can always a wise and smart option for a buyer and a seller.
Standby letter of credit – Is it a backup plan for ensuring payment?
You can’t deny the fact that things may go wrong anytime during any transactionsand hence standby letters of credit are kept in place to add a safety net onpayments and transactions. Regardless of whether the fee charged is for theshipment of physical goods or a standby letter of credit, a standby letter of credit can always a wise and smart option for a buyer and a seller.
