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Standby letter of credit (SBLC): Operates like a commercial letter of credit, except that typically it is retained as a standby instead of being the intended payment mechanism. In other words, this is an LC which is intended to provide a source of payment in the event of non-performance of contract.
An acceptance credit is a type of letter of credit that is paid by a time draft authorizing payment on or after a specific date, if the terms of the letter of credit have been complied with. The bank "accepts" bills of exchange drawn on the bank by the debtor , discounts them and agrees to pay for them when they mature .
In lending, a pre-approval is the pre-qualification for a loan or mortgage of a certain value range. [1]For a general loan a lender, via public or proprietary information, feels that a potential borrower is completely credit-worthy enough for a certain credit product, and approaches the potential customer with a guarantee that should they want that product, they would be guaranteed to get it.
In some cases, you may not need to be a current customer to use the tools. ... For example, if you’re approved for a credit card and offered a credit limit of $10,000, you’ll want to make sure ...
The bottom line. It’s important to review your credit report regularly and dispute all inaccurate information. A Section 609 dispute letter allows consumers to request verification of accounts ...
A strong determination as to whether you will be approved for a credit card is your income. If you are applying for an unsecured credit card from a major issuer you will need to prove a minimum ...
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