The Standby Letter Of Credit is a way for you to assure payment to a third party through the bank's obligation to pay when that party satisfies the terms of the standby letter of credit. The language in such a standby letter of credit can be complicated, and California Bank & Trust's International Banking experts will work with you to protect your interests by providing the proper terminology and safeguards.
We will work with you to assure that the terms of the Standby Letter of Credit reflect the negotiations of the parties. A Standby Letter of Credit can be used for many purposes, including a bid bond, performance bond, or support for a loan or unpaid invoices made on an open account purchase.
CB&T is experienced in issuing Standby Letters of Credit, and has issued these instruments for a wide variety of purposes, domestically and internationally.