Letters of Credit are a credit facility issued by HSBC guaranteeing payments on behalf of a customer to a beneficiary, normally a third party but sometimes to the Bank’s customer, for a stated period of time.
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More about Letters of Credit
Letters of Credit enable business clients to guarantee their ability to make payments to suppliers and potential partners
Extended to trusts, corporations, partnerships, sole proprietors, and companies purchasing real estate property for investment
What you should know before you apply
The Credit Officer sets a variable interest rates based on the value of the relationship as well as the collateral securing the borrowing
A Commitment Fee or Arrangement Fee is charged and is dependent on the purpose, amount and term of the Letter of Credit
