Letters of credit are a common form of collateral commonly used to secure surety transactions. A letter of credit is a guarantee issued by a bank for a certain sum to be paid. Surety letters of credit are unconditional and generally referred to as irrevocable letters...
Replacing letters of credit with surety bonds is beneficial for a client who had to put up a letter of credit in the first place. Many clients do not know where to turn when they need a surety bond, and finding an intelligent agent who can walk you through the process...
