The Beauty of Standby Letters of Credit
04 May, 2017David Morrish
When companies are new to exporting and are uncertain about the creditworthiness of their potential buyers and/or the political risks of associated with the country in which their buyer is located, the consistent, sound advice given is that they should insist on a documentary letter of credit. However once the relationship has been established for a while and the experience has been a good one, is there a way of simplifying the process without losing the protection provided?
Our International Qualifications Relationship Director, David Morrish, focuses on one of ways in which Standby Letters of Credit can be used – the Commercial Standby.
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