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Standby Letter Of Credit

ROYAL BANK PACIFIC

STANDBY LETTER OF CREDIT


A Standby Letter of Credit (SBLC) is an irrevocable undertaking by the Royal Bank Pacific issued to a third-party beneficiary. The letter is issued on behalf of our customers as a promise to pay a specific sum of money if the customer fails to fulfill a contractual commitment with the third party.

The beneficiary needs to submit certain documents that must comply with all terms and conditions if the SBLC. This type of trade financing solution is widely used for existing business relationships where two parties have already developed a great trust level.

Since SBLCs are irrecoverable, these cannot be canceled or changed without the agreement of the applicant, beneficiary and the issuing bank. Beneficiary rests assured of receiving payment due to the creditworthiness of the issuing bank. SBLC is transferable if stipulated in the terms and conditions.

We avail customers with domestic and trade finance options like Performance Guarantees, Advance Payment, Bid Bonds, Financial Guarantees, Direct Pay Letters Of Credit and a few more. Our trade finance experts are vetted in structuring Standby Letter of Credit that will meet your business needs while protecting you from interests to the best possible extent. We have developed numerous SBLCs and can customize our formats to suit your needs, subject to certain requirements.

Contact us with your trade financing needs, and we will craft the best SBLC for you.

CONTACT FOR STANDBY LETTER OF CREDIT




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