FAST , SIMPLE , EXECUTED

The Standby-Letter-of-Credit ( SBLC ) serves a different function than the commercial letter-of-credit (L/C). The SBLC serves as a secondary payment mechanism. A bank will issue a SBLC on behalf of a customer to provide assurances of his ability to perform under the terms of a contract between the benefitcary. The parties involved with the transaction do not expect that the letter of credit will ever be drawn upon.

The SBLC assures the beneficiary of the performance of the customer's obligation. The beneficiary is able to draw under the credit by presenting a draft, copies of invoices, with evidence that the customer has not performed its obligation. The bank is obligated to make payment if the documents presented comply with the terms of the letter of credit.

SBLC are issued by banks to stand behind monetary obligations, to insure the refund of advance payment, to support performance and bid obligations, and to insure the completion of a sales contract. The credit has an expiration date.

The SBLC is often used to guarantee performance or to strengthen the credit worthiness of a customer.

For Coal mining industry , SBLC payment are very important method for Big company to get coal supply with large quantity , correct specification and long term business plan.

We suggest you to use SBLC method during transaction with us.