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INTERNATIONAL BANKING - International Banking Services
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Standby Letters of Credit |
A Standby Letter of Credit has a variety of uses. It serves to assure the performance of a contractual obligation, and is useful for both parties in ensuring the solidity of a business transaction. |
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To start, the beneficiary uses this instrument to ensure the receipt of compensation by making a demand against the Standby Letter of Credit if the applicant fails to perform his contractual obligation. At the same time, the applicant enhances his position when using this instrument in lieu of performance or bid bonds, indemnity or cash deposits. |
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If you have any questions about Standby Letters of Credit, please email us at info@eastwestbank.com. |
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Prepaid Gift Card is the perfect gift for you and your loved ones. It's an ideal choice for birthdays, holidays, weddings, and all your gift-giving occasions.
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A general word on SBA loans: East West Bank's Small Business Administration (SBA) Loan Department is committed to helping small businesses obtain the financing needed to expand and grow. East West Bank is a SBA Preferred Lender.
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