Indirect Finance (Letters of Credit, Letters of Guarantees and/or Bank Guarantees)

Indirect Finance (Letters of Credit, Letters of Guarantees and/or Bank Guarantees)

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What It covers
  1. Non-cancelable limits
  2. Cover non-honoring of accepted outward lc by the applicant
  3. Cover applicant’s default on obligations resulting from the liquidation or call of bonds by a beneficiary
  4. Can also cover the unfair calling of bonds
  5. Cover the call on conditional indemnity agreements backing/securing the finance of trade contracts granted extended/granted by the financial institution to obligors.
  6. Cover insolvency and bankruptcy risks of an obligor/applicant

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