Letters of Credit

Letters of Credit

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Features

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