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Letter of Credit

A Letter of Credit is a document often used by business when opening a supplier account, or as evidence of funds for auctions and other “last-minute” activities.

EVERYTHING YOU NEED TO KNOW

An assurance to a creditor that you will pay as promised

WHAT’S IN IT FOR YOU?

  • Enables you to work with vendors who might not do business with you otherwise;
  • Demonstrate your credit worthiness and give you greater access to key suppliers; and
  • An effective way to speed up transactions, build your business relationships and eliminate cash advances, down payment or prepayments.
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The Small Print
  • You earn interest on funds that are on hold for your Letter of Credit.
  • Standard Term & Conditions
  • On Approved Credit

© 2013 Lake View Credit Union