Letters of Credit

Get the validation necessary to build new business relationships through First Citizens Community Bank. Our letters of credit can also yield lower costs in regard to insurance bonds. Build a foundation based on trust and respect with a bank-backed letter of credit.



Summary
  • Provides guarantee on payments of large purchases to third parties
  • Can replace need for costly insurance company performance bond
  • Can also be used to guarantee a service
  • Typically issued for 1-year term or less
  • Terms easily renewed
  • Fee is based on face value amount
  • Interest accrues only if we must make payment to beneficiary on your behalf

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