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    7 Replies Latest reply on Aug 22, 2009 9:50 AM by LUCKIEST

    Stand-By Letter of Credit from Merchant Bank

    PaperToucher Wayfarer
      Hello To All,

      I have a business deal that was getting ready to be completed by a Merchant Bank. Unfortunately due to lack of funds on their part
      they have decided to give me a Stand By Letter of Credit. I know a little something about that, but not enough. When I receive this letter
      of Credit is it possible to go to my local bank and get the funds I need there, after my local bank goes through proper procedures?

      Thank You