Standby Letter of Credit is a written promise is irrevocable bank that issued the request of the applicant to pay to the beneficiary, if the presentation of the applicantwan.

This product has the same functionality as Bank Guarantee, SBLC which was published as a written guarantee (just in case). SBLC will only be disbursed if the applicant fails to meet its obligations (default) and the beneficiary to claim.

If the Bank Guarantee is based on the draft Civil Code, Articles 1820-1850 the SBLC is based on UCP 600/ISP 98 URDG.

SBLC can also be issued for various types of guarantees as Bank Guarantees.

Types of Standby L/C:

1. Performance Standby L/C.
2. Advance Payment Standby .
3. Bid Bond Standby.
4. Financial Standby.
5. Commercial Standby.