STANDBY LETTER OF CREDIT Definition

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STANDBY LETTER OF CREDIT is a guarantee of payment. If the beneficiary does not get paid from its customer it can then demand payment from the customers Bank by forwarding the copy of the invoice that was not paid along with predetermined supporting documentation.

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N as the fifth letter in a Nasdaq stock symbol indicates that the issue is the third class of preferred shares in the company.

SBIC is Small Business Investment Company.

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