Letters of credit are a perfect fit when you have a business transaction that requires you to guarantee a payment or service, such as delivery of goods. They provide the bank's guarantee of payment, a valuable tool as a business seeks to expand relationships with other creditors.

A letter of credit from Quoin Financial Bank can be especially helpful in international commerce. Ask at any of our branches if you need more information about this valuable service.

  • Ideal to guarantee payments on large purchases
  • Can also be used to guarantee a service
  • Typically issued for a 1-year term or less
  • Fee is based on face value amount
  • Interest accrues only when beneficiary requests an advance
  • Can replace need for an insurance company performance bond