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Standby Letters of Credit and Bank Guarantees (DR)
Standby Letters of Credit and Bank Guarantees Do you know when to use which instrument and what the appropriate underlying rules for your business are? When you sell cross border and think that using a letter of credit is too complicated, or when you want to conduct your business on an open account basis but don’t feel 100% comfortable with the payment or country risk of the customer, a standby letter of credit (SBLC) may be a viable option for you. Deciding that you want to work with SBLCs is the easy part; now you have to decide what kind of SBLC you want and what rules and which laws apply. SBLCs can be beneficial in certain circumstances but there are also pitfalls to using them internationally. In this webinar, Fred Dons, of Deutsche Bank, will examine SLBCs as a vehicle for financing account receivables. Topics include: • What is an SBLC? • How are they obtained? • Requirements for SBLCs • Supporting documentation • How do SBLCs differ from letters of credit? • When to use SBLCs • Different types of SBLCs • How does an SBLC differ from a bank guarantee? • Regulations governing their usage • What are the fees?
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