Letters of Credit
- More Options...
Get the validation necessary to build new business relationships through ESB Financial. A letter of credit is perfect for scenarios when you're embarking upon new large-scale or international business relations.
Let third parties know ESB Financial is supporting your project. Our letter of credit can also yield lower costs in regard to insurance bonds. Build a foundation based on trust and respect with a bank-backed letter of credit.
- 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