Payment Mechanism

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August 31, 2024 4 min read Definitions
Standby Letter of Credit (SBLC): A Secondary Payment Mechanism
Finance Banking SBLC Letters of Credit UCP Payment Mechanism Banking Instruments
A standby letter of credit (SBLC) is a secondary payment instrument that assures the beneficiary of payment if the primary obligations are not met, commonly governed by the Uniform Customs and Practice for Documentary Credits (UCP).
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