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Standby letters of credit slc's

• These provide default guarantees to back a commercial paper issue or a municipal revenue bond. They also provide performance bond guarantees to ensure that a real-estate development will be operational within a stated time period. They involve much larger amounts than the typical letters of credit.

 
 

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 Embedded terms in definition
 Bond
Commercial paper
Commercial
Credit
Default
Issue
Letters of credit
Paper
Performance bond
Revenue bond
Time
Will
 
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