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Letters of CreditFor qualified existing customers, Allied First Bank will provide a stand-by guarantee of credit for specific commercial projects. When you need a performance guaranty to meet contractual obligations or provide a payment mechanism to complete an important business deal, a letter of credit may be appropriate. With a letter of credit, the name and creditworthiness of the bank are substituted for the borrower's name to reduce risk and assure the payment will be made provided the terms and conditions of the agreement are met. By issuing a letter of credit, Allied First Bank can help you build new relationships, ensure prompt payment, and limit your risk in commercial transactions. |
