What is bank guarantee (BG) and standby letter of credit (SBLC)?

Bank Guarantees and standby letter of credits are used in international projects very commonly. A standby letter of credit, though has 'letter of credit' in its name, acts like a bank guarantee in practical use. In this video we discuss- 1.What is a bank guarantee and a standby letter of credit? 2.Who are the parties in a bank guarantee? ⭐️⭐️Our courses are chosen by international banks and corporates to train their employees. 🚀For our trade finance courses - https://www.bankon.school/courses/tra... ⚡️For Bank Guarantee course - https://www.bankon.school/courses/ban... ✅For our SWIFT ISO 20022 courses - https://www.bankon.school/courses/swi... SUBSCRIBE HERE - https://bit.ly/2Xu68WD WATCH OUR LATEST VIDEO HERE - https://bit.ly/latesttutorial 0:00 When is a bank guarantee/ SBLC used? 1:08 Who are the parties in a bank guarantee 1:34 Bank Guarantee working process #bankguarantee