Tuesday, 12 November 2019, 15 Rabiulawal 1441H Solat Time:

Standby Letter of Credit-i (SBLC-i)

Standby Letter of Credit-i is often used as a financial guarantee. It ensures payment if and when the applicant fails to repay an advancement made to him/her; or for the beneficiary to demand payment when the applicant fails on his/her part of the agreement. It is also intended to cover any NON-PERFORMANCE or failure of the applicant to fulfill a contractual commitment with a third party.

In countries where banks are prohibited from issuing guarantees, SBLC-i is the most appropriate method used. It guarantees applicant’s performance, indebtedness or repayment. SBLC-i is activated in the event of ‘default’ or ‘non-performance’ by the applicant. It is a substitute for a guarantee and governed by Uniform Custom Practice 600.

Benefits of using our products:

  • Our SBLC-i is widely accepted and can be leveraged to enhance your reputation
  • Unlocked your capital from required deposits or payment in advance margin adjustment
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