Helping Small Businesses Like Yours

Before we discuss performance standby in Thailand, we need to talk about the Standby letter of credit. In today's article, we will discuss both topics with examples.  To learn more about it, read this article to the end. A standby letter of credit: A Brief note with an example Well, SLOC is an arrangement in which a bank guarantees payment to a "beneficiary" if something fails to happen. For example, A vendor sells her textiles to an external client who commits to pay within 40 or 60 days. If the amount never arrives, and the exporter required the buyer to use a standby letter of credit, the seller can collect cash from the importer’s bank. Before releasing the letter of credit, the bank often checks the importer’s credit and decides that the importer will pay back the bank. But if the customer’s credit is in dispute, banks may require funds on deposit for a green signal. Performance Standby in Thailand: A Brief Note with an example Performance SLOC ensures statutory