Best place to get a standby letter of credit w/o tying up cash?
October 27, 2022
by a searcher from University of Georgia in Los Angeles, CA, USA
I'm moving my suppliers to Net payment terms to defer their payments as much as possible to improve my cash conversion cycle. However, they are requiring a Letter of Credit to do this. The banks I'm talking to want to put money aside to secure the L/C, but that defeats my purpose then. Does anyone see a way that wouldn't tie up my cash?
from University of Delhi in Toronto, ON, Canada