• International Business Transactions and Mitigation of Seller’s Risk: Standby Letters of Credit and Harmless Error
  • April 29, 2015 | Author: Jeremy E. Deutsch
  • Law Firm: Norris McLaughlin & Marcus, P.A. A Professional Corporation - New York Office
  • A standby letter of credit (“SLC”) is a common way for a seller of goods to mitigate his or her risk in a transaction where the seller is sending goods abroad and either the buyer is not amenable to resolving disputes in the seller’s home jurisdiction or the seller has doubts about the buyer’s credit worthiness.