Standby Letters of Credit
Certifying your creditworthiness is an important factor to your success when it comes to trade enterprises—whether you do business domestically, internationally, or both. Fifth Third Bank can help guide you through the range of needs for which certain types of guarantees—such as Standby Letters of Credit—are required. These can include bid and performance surety under contracts, payments to suppliers, industrial revenue bonds, and more.
A Fifth Third Bank Standby Letter of Credit can*:
- Certify your creditworthiness in both domestic and international markets.
- Mitigate the need for cash deposits or more complicated forms of surety, such as bid and performance bonds.
- Be typically a lower-cost option than a bid or performance bond.
- Offer guidance from Fifth Third Bank trade professionals, assisting with proper transactional structuring.
- Allow you to issue bonds for your contracts via our correspondent network.
- Serve as a Direct Pay instrument to provide the credit enhancement for a taxable or tax-exempt bond issue.
Find out more about Fifth Third Bank Standby Letters of Credit. Contact a Relationship Manager.
* Subject to Fifth Third Bank credit review and approval