Letter of Credit in Export: Merchant Credit and Guarantee Corporation Limited

Merchantcreditcorp10 Jul, 2021Business

Letters of Credit are frequently used in the international trade industry so that the importers and exporters can take risks while having cross-border transactions. This is the document issued by the bank or financial institutions to the seller that he will receive the full payment from the buyer for the goods received within a given time. A Standby Letter Of Credit (SBLC) is banking document in which the bank guarantees to pay the seller in case the buyer or the bank?s client is unable to pay as per the agreement.