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Letters of Credit |
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Letters of Credit
- This is a written undertaking in which the bank
undertakes to pay a certain amount on behalf of its
customers when the conditions of the letter of
credit have been fulfilled.
- Customer is usually requested to provide funds
necessary to secure the issuing of a letter of
credit by the bank, whereas in other cases, normally
subject to credit requirements, the bank may provide
the necessary loans to facilitate the issuing of the
letter of credit
For more information on options for your business
speak to a Relationship Manager on 22312696, or
visit your nearest branch. |
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