Commercial letters of credit provide reliable means of payment in commercial sale transactions Letter of credit and bank's payment are independent of underlying sale transaction Bank's obligation to ...

Commercial banks play a pivotal role in most trade finance transactions. Herein, the banks can take different roles, such as the issuing bank, the confirming bank, the nominating bank, the advising ...

A standby letter of credit (SLOC) is a financial instrument used primarily in international trade and domestic construction projects. The SLOC is issued by a bank on behalf of the buyer and guarantees ...