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Trade Finance MT 767 Explained: Guarantee Amendment How changes to an already-issued bank guarantee or standby LC — a new amount, extended validity — are communicated. Trade Finance MT 760 Explained: Guarantee / Standby Letter of Credit How a bank issues an independent guarantee or standby LC — a promise to pay only if the applicant fails to perform. Trade Finance Letter of Credit Basics: How an LC Protects Both Sides of a Trade A Letter of Credit shifts payment risk from the buyer to a bank. Here is how the LC lifecycle works, who the parties are, and why documents matter more than the goods themselves.

FAQ Is a Letter of Credit the same as a Bank Guarantee? No. An LC is a primary payment mechanism used to settle a trade, while a Bank Guarantee is a secondary commitment that is only invoked if the applicant fails to perform an obligation. FAQ What happens if the documents don't match the LC exactly? A mismatch is called a "discrepancy." The issuing bank can refuse payment until the discrepancy is corrected or the buyer waives it, so exporters should check documents carefully before presentation.

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