Learn About Standby Letters Of Credit
World Networks
February 07, 2016
Business
,
Education
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Free
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Free Course
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International Trade
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Letters Of Credit
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SBLC
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DEFINITION of 'Standby Letter of Credit - SLOC' A guarantee of payment issued by a bank on behalf of a client that is used as "payment of last resort" should the client fail to fulfill a contractual commitment with a third party.
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