Understanding Letters of Credit: Definition, Types, and Usage

Learn how letters of credit work, the roles of buyers, sellers, and banks, and why these financial tools help reduce risk and ...
Business Wire

NORD/LB and GridStor Announce Completion of $50 Million Letter of Credit Facility

PORTLAND, Ore.--(BUSINESS WIRE)--GridStor, a developer and operator of utility-scale battery energy storage systems, announced today that it has closed a $50 million letter of credit with NORD/LB in ...
Investopedia

What Is a Transferable Letter of Credit? Definition & Advantages

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Thomas J. Brock is a CFA and CPA with more than 20 years of experience in various areas ...
JD Supra

How Liquid is Your Letter of Credit?

Other than cash, a standby letter of credit (LoC) is generally considered the most liquid form of performance security. While beneficiaries generally believe drawing on an LoC should be a relatively ...
Wall Street Journal

WeWork Says Holdout Landlords Can Use Letters of Credit for Unpaid Rent

Landlords that aren’t engaging in lease negotiations with WeWork can tap letters of credit to cover rent the bankrupt co-working space provider is withholding, the company said in a filing. The brief ...