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Provide assurance to vendors and any third party that they will receive full payment of a contract under any circumstances. By initiating a letter of credit, third parties know that your project is backed up by the financial strength of First Hope Bank.

A letter of credit can also be used to replace the need for insurance company performance bonds, reducing your associated costs. 


Overview

  • Ideal to guarantee payments on large purchases
  • Ideal for international transactions
  • Typically issued for 1-year term or less
  • Terms easily renewed
  • Can replace need for insurance company performance bond
  • Interest accrues only if beneficiary requests an advance


Business
Debit Card

Make purchases faster and safer while making expense tracking easier than ever.

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