agriculture photo with tractor in background

Business Letter of Credit

A document from your financial institution guaranteeing that a specific payment will be made in a business transaction.

  • Provides guarantee on payments of large purchases to third parties 
  • Can replace need for costly insurance company performance bond 
  • Can also be used to guarantee a service 
  • Typically issued for 1-year term or less 
  • Terms easily renewed 
  • Fee is based on face value amount 
  • Interest accrues only if we must make payment to beneficiary on your behalf 
  • Quick, local decision-making
  • Friendly Panhandle service from start to finish