Credit backed by your WorldPass Portfolio assets.
Favorable rates and terms.
Internationally accepted as a tool for negotiation and compensation balance.
LETTERS OF CREDIT
Letters of Credit are an efficient, globally recognized payment method for working with both new and established trading partners.
StateTrust International Bank & Trust, LLC. offers the following types of cash-secured Letters of Credit:
- Stand-By Letter of Credit or Bank Guarantee:A Standby Letter of Credit issued by StateTrust International Bank & Trust, LLC. is an irrevocable and unconditional promise to pay a third party (the Beneficiary) in the event the client fails to meet the expectations of the beneficiary.
- Commercial Letter of Credit: A Commercial Letter of Credit issued by StateTrust International Bank & Trust, LLC. is an arrangement whereby the importer will pay the exporter (or Beneficiary) or will authorize an advising bank to pay the beneficiary against stipulated documents, provided that the terms and conditions of the documentary credit are fully complied with.
Letters of Credit can be collateralized by either cash or with a portion of the securities held in the client’s portfolio.
At StateTrust International Bank & Trust, LLC. clients can use Letters of Credit to:
- Assure international trading partners of their financial responsibilities and support of committed future obligations.
- Provide suppliers or customers with the comfort level needed to enter business transactions.
- Support future payment performance on contracts or obligations, such as leases or loans.
- Use their portfolio valuation as collateral to facilitate the exchange of goods and payments across international boundaries and expand trading opportunities using the client’s portfolio valuation as collateral for the issuance of the Letter of Credit.