Both letter of credit and Standby letters of credit are the most popular and commonly used trade finance instruments in the international market. Both of them ensure an on-time payment to exporters/sellers against the non-payment & non-fulfillment on the hands of buyer/importer. But there are some basic differences between these two instruments. Let’s start by understanding their meaning. Read more: https://www.emeriobanque.com/blogs/difference-between-standby-lc-and-letter-of-credit