Standby Letter of Credit made Easy is a trade finance instrument manual that answers 10 important questions about Standby letter of credit. It is designed for bankers, importers, exporters, lawyers and trade business financiers. The 10 chapters of this book are questions and answers and the usage of this instrument has been on the increase since the global financial crises. Standby letter of credit and demand guarantee are structurally different but functionally similar. The difference in the structure is highlighted in this book.
The initial chapters talks about what standby letter of credit is all about, how it is different from other trade instruments. Chapter 3 looks at the types and uses of standby letter of credit. The next chapter talks about the principles which are based on the rule. These rules are enumerated in this book. The stages of the lifecycle of standby letter of credit which can be seen is chapter 6 & 7. Chapter 8 talks about the functions of this instrument while chapter 9 discusses the dynamics of this payment instrument. The final chapter talks about the challenges faced in using this instrument.
This is a very important instrument for anyone looking to be relevant in his/her career. In mastering this instrument, Standby Letter of Credit Made Easy serves as a quick reference.