1. Letter of Credit User Guide
  2. Guarantees and Standby Letters of Credit
  3. Introduction

9.1 Introduction

This topic provides details about the Guarantees and Standby Letters of Credit. It explains about the functions and features of Guarantees and Standby Letters of Credit.

A Standby Letter of Credit (SBLC) and Bank Guarantee (BG) is a payment guarantee generally issued by the issuing bank on behalf of an applicant securing payment to the beneficiary. If the buyer fails to fulfil a contractual commitment the issuing bank will release payment to the seller.

This topic contains the following sections:
  1. Guarantees and Standby Letters of Credit Contract Input
  2. Guarantees and Standby Letters of Credit Amendment
  3. View Guarantees and SBLC Amendment Details
  4. Lodging Guarantee Claim
  5. View Guarantee Claim Details
  6. Guarantee Claim Settlement
  7. View Claim Settlement
  8. Transfer Guarantees and Standby Letters of Credit Transfer Input
  9. View Guarantees and SBLC Transfer Details

Parent topic: Guarantees and Standby Letters of Credit