Payment instruments
SBLC
Standby Letter of Credit — a bank guarantee used as a payment backstop.
A Standby Letter of Credit (SBLC) is a bank guarantee: the issuing bank commits to pay the beneficiary if the applicant defaults on a specified obligation.
In oil trade, SBLCs are occasionally used as performance guarantees or as a backstop where an LC-at-sight isn't preferred. Scam-circuit note: "non-refundable SBLC deposit" demands are always fraud — legitimate SBLCs don't require upfront cash to the counterparty.
See also