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standby letter of credit

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Financial Dictionary

Standby Letter of Credit

A stipulation that states a letter of credit will be called back if the payer defaults.

Investopedia Commentary

A letter of credit is typically used in international transactions.

Related Links

What Is The World Trade Organization?

See also: Default, Letter of Credit, Trade Finance

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Word
The Tools to Do it All - Buy Office 2007 for Your PC. Watch a Demo Now.
Microsoft.com/Office2007
Streamline Trade Finance
Letter of Credit Preparation, Documentation and Tracking.
www.tradebeam.com
Legal Dictionary

Main Entry: standby letter of credit
see LETTER OF CREDIT
Merriam-Webster's Dictionary of Law, © 1996 Merriam-Webster, Inc.
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