COMMERCIAL STAND-BY LETTER OF CREDIT
Offer available only from BNI-MADAGASCAR
The SBLC is a guarantee instrument that ensures performance of a commercial contract for goods or services.
It consists of an irrevocable undertaking of the performing bank (buyer’s bank) to compensate the supplier (exporter) when the principal (buyer or importer) fails. Commercial stand-by letters of credit are linked to documentary credits, to guarantee payment in case of default.
Copy of the commercial contract, the pro forma invoice or the order form
Completed Stand-By Letter of Credit application form
Instruction Letter form
COMMERCIAL STAND-BY LETTER OF CREDIT (SBLC) ...