Micro Capitals Private Limited issues a Standby Letter of Credit on the behalf of a client for paying a beneficiary in a situation where the application is not able to pay back. A Standby Letter of Credit came through as an outcome of a legal pitfall imposed by the U.S. regulator on the authority of the bank to issue guarantees. This is a very flexible tool and is specifically preferable for making numerous secure payments.
A Standby Letter of Credit is mostly for the purpose of international trade and provides the concerned party the needed assurance about the payment no matter what the situation is. With the Micro Capitals, you do not have to worry about the different intricacies that are involved with a Standby Letter of Credit. Our expertise is to ensure that you do not encounter any complexities and guide you along the whole process of availing the service. They will also provide you with the complete information in case you are not aware of the actual procedure.
A Standby Letter of Credit has different types. These are as below: