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SBLC - Standby Letter of Credit in LC

Standby Letter of Credit: New Amazing Introduction

Imagine a situation where you have ordered a bunch of goods from Alaska, you have a contract with an international seller, who initially resisted doing business with you because he didn't know you and was worried about getting scammed, but you gave them a standby letter of credit, and now he is happy and relieved. But how? Let’s understand. What is a Standby Letter of Credit (SBLC)? As defined in Investopedia, a standby letter ...

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