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Business Letter of Credit :
If your business requires standby letters to ensure performance or payment, Beacon Federal can help. No matter what support you need, our standby letter of credit specialists are ready to tailor creative solutions to fit your unique situation.
You have unique needs. We offer several standby letters of credit you can choose from: ·
Performance - This is useful for backing an agreement to supply, develop, maintain or warrant a product.
Financial - This is useful for backing your contractual obligation to pay for delivered goods or services, pay insurance premiums or lease payments, or repay a credit facility.
Global - For importers who are looking for new suppliers, one of the primary considerations when deciding on the payment terms is to ensure that the goods supplied are the goods ordered. The two main instruments to ensure this are documentary collections, whereby the importer only makes payment in exchange for documents of title for the goods shipped, and a letter of credit, where the importer requests his bank to guarantee payment for the goods, given certain conditions being met.
Using Beacon Federal to process your letter of credit offers a number of advantages, both to you and your suppliers.
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We would be happy to answer questions about the loan application process. Give us a call at 1-888-256-3800 or email us today
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The above material is for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any product or service referred to herein. All decisions to extend credit or make investments are subject to Beacon Federal's credit and investment approval process. Beacon Federal is not offering tax or accounting advice. Be sure to consult with your tax or accounting advisor.
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