Definitions for "Standby Letter of Credit"
an obligation issued by a bank on behalf of a customer to a third party, states that the bank will pay the latter upon presentation of a statement signed by the beneficiary stating that the bank's customer has not fulfilled the terms of the contract
A written instrument issued by a bank (Issuing Bank) at the request of its customer (Applicant) on behalf of a beneficiary, whereby the Issuing Bank agrees to provide financial remedy in the event that the Applicant defaults on any terms and conditions specified under the Standby Letter of Credit. Standby Letters of Credit are often issued at the request of Importers in favour of Exporters as financial security for goods purchased on Open Account.
guarantee of the payment of a fixed amount where the debtor has not met its payment obligations.
Static theory of capital structure Stationary time series
a financial instrument used to support a broad range of situations, including performance under a contract, payments to a supplier or satisfaction of lease requirements
a stipulation that spells out the conditions of the transaction
Another term for standby bond purchase agreement.  See:  STANDBY BOND PURCHASE AGREEMENT.