Credit Glorious Property Holdings provides Standby Letters of Credit's issuance, the most popular and flexible international trade protection tool for getting credit lines, guaranteeing your commitments to suppliers and third parties, and purchasing goods and services.
Your overseas operations deserve a streamlined, flexible and immediate tool to build trust and guarantee successful transactions. Credit Glorious goes beyond the traditional relationship between financial institution and customer, so we evaluate your business and marry your projects without asking for counter value deposits. We issue Stand-by Letters of Credit in more than 150 countries. Our dedicated teams are experienced in guiding you step-by-step to ensure your financial needs are met in the shortest possible time.
The standby letter of credit protects the international trade, as do the documentary credit and the bank guarantee: it is a malleable, cheap and easy to manage instrument suitable for companies that want to increase their competitiveness abroad without facing the usual risks international trade. Its use is considered a form of documentary credit, regulated by the Uniform Standards and practice of the International Chamber of Commerce. Its essence is similar to the bank guarantee.
The stand-by letter of credit is a secure payment method accepted all over the world. It is widely used in the United States (and in all the Anglo-Saxon countries), where the traditional bank guarantees cannot be issued due to the lack of security in their legal order. So the stand-by letters of credit are given to fill the regulatory gap. Like the letter of credit, its use needs to produce adequate documentation disciplined by international regulations. Still, in this case, the financial institute acts independently. It becomes unconditionally committed to the disbursement of the sums as agreed by the contract, guaranteeing, in any case, the excellent outcome of the operation, only in the event of obligation's default between parties. This ensures administrative slenderness: when the third party takes over, the documents must be presented to the transaction's guarantor only in case of default. The stand-by letter of credit allows companies to gain competitive advantages abroad because it provides safely operating, respecting the deadlines and the agreed processes. Unlike the different forms of documentary credit, with this instrument, goods and documents can move together, allowing exporting companies to cut the storage costs for sold goods.
Thanks to the experience gained in the most important international markets, Credit Glorious Property Holdings can protect its partners' safety interests with tailored-made instruments. We can plan the most convenient operations, depending on the countries operating in and choosing the good financial products for every risk class.
Contact us or visit us in our offices; we will offer you the best international payments solution and propose a financial product tailored to your needs.