Significance Of Non-Performing Letter Of Credit You Should Know
Non-performing Letter of Credit is nothing but a legal document that a bank issues on the behalf of the clients. Non-performing letter of credit, also known as SLOC (Standby Letter of Credit) assures the payment on the client’s behalf if any client cannot fulfill the agreement. Like all places all over the world, in Thailand, this letter of credit provides security in business transactions. Feeling interested to know about non-Performing letter of credit in Thailand ? Go through the passage mentioned below and gather significant information about this potent financial tool. Importance of Non-Performing Letter of Credit Standby letter of credit is important and beneficial both for the sellers and buyers. Go through the passage mentioned below and know the significance of the standby letter of credit in brief. SLOC presents a significant role in the business field. According to any specific agreement, if the client does not pay, the seller can provide a Standby letter of cre