Payment Standby Letters of Credit
A Payment Standby Letters of Credit is a written document issued by Bank of China U.S.A. at the request of the buyer to the seller under the contract, guaranteeing the buyer will fulfill the payment obligations under the contract to purchase goods, technology, patent or labor.
FEATURES & BENEFITS
Act as a guarantor
Bank of China U.S.A. acts as a guarantor to ensure a smooth transaction, including fulfilment of contractual obligations.
Timely and accurate
Timely and accurate payment for goods
Broad application from merchandise trade to construction projects.