Standby letter of credit: AD banks may issue for overseas short term trade credit subject to compliance with guarantees rules. Authorised dealer banks may issue standby letters of credit on behalf of customers to obtain short term overseas trade credit in foreign currency, ... Summary
Standby letter of credit: AD banks may issue for overseas short term trade credit subject to compliance with guarantees rules.
Authorised dealer banks may issue standby letters of credit on behalf of customers to obtain short term overseas trade credit in foreign currency, provided such SBLCs comply with the regulatory framework governing guarantees and co acceptances set out in the relevant Department of Banking Regulation master circular, as amended.
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