The Standby Letter of Credit is like a bank guarantee provided to an international trader so that they could any type of risky situation. Visit here: https://bit.ly/3xhPmfr

3. The Standby Letter of Credit is like a bank
guarantee provided to an international trader
so that they could any type of risky situation
where the chances of loss can be high or
disastrous for the trader.
In this guarantee, the bank will be playing a
mediator like the part where if the buyer is
unable to fulfill the contract as written the bank
will pay the behalf of the importer.
The stand by letter has saved many
businesses and with this letter, you can show
your business partners that you have the trust

5. There are several types of letters of credit,
• The domestic ones are opened in favor of a
beneficiary who is domiciled in the same
country, therefore, in this case, there is no
corresponding bank figure.
• The transferable, allow two or more
beneficiaries to participate in the credit and are
only transferable on one occasion. Generally,
they are used by intermediaries in international
trade such as commission agents, brokers, or
consolidators.
• The Stand-by, is used with the purpose of

7. Letter of Credit Route
The seller is the one who requests the letter of credit
from the buyer for security since through it an
irrevocable commitment is established that cannot be
canceled (terminated), but with the express consent of
the beneficiary/seller. The buyer requests the
establishment of a line of credit to the issuing bank,
which in turn, establishes a correlational contract with
the confirming/advising bank in the seller's city. The
issuing bank issues the letter of credit and sends
SWIFT (World Society for Interbank Financial
Telecommunication) messages to the confirming bank,
the seller receives the letter of credit and must verify
that it corresponds to what was agreed with the buyer.
Once the goods are delivered, the seller must present
the documents verifying the shipment to the confirming

9. The process of getting an SBLC:
Request
Complete and submit to the ITF a Standby
Letter of Credit (SBLC) application using our
online application.
Eraser
The ITF creates the individualized SBLC. The
client confirms and signs the final version.
Due diligence
The ITF client compiles various requested
documents related to his company. ITF

11. Issue
ITF issues its client's SBLC through the
agreed issuer. ITF monitors the SBLC
carefully to ensure that it reaches the
beneficiary.
Once you have completed this process
your application will be fulfilled and you will
get your Standby Letter of Credit without
any wait.