Standby Letter of Credit

Portuguese translation: Carta de Crédito Standby

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:Standby Letter of Credit
Portuguese translation:Carta de Crédito Standby

01:00 Sep 9, 2019
    The asker opted for community grading. The question was closed on 2019-09-12 17:54:07 based on peer agreement (or, if there were too few peer comments, asker preference.)


English to Portuguese translations [PRO]
Bus/Financial - Real Estate / bancos
English term or phrase: Standby Letter of Credit
What Is a Standby Letter of Credit (SLOC)?
A standby letter of credit is a bank's commitment of payment to a third party in the event that the bank's client defaults on an agreement. It is a "standby" agreement because the bank will have to pay only in a worst-case scenario.

A SLOC is most often sought by a business to help it obtain a contract. There are two main types of SLOC:

A financial SLOC guarantees payment for goods or services as specified by an agreement. An oil refining company, for example, might arrange for such a letter to reassure a seller of crude oil that it can pay for a huge delivery of crude oil.
The performance SLOC, which is less common, guarantees that the client will complete the project outlined in a contra
Lilian Magalhães
Brazil
Local time: 02:03
Carta de Crédito Standby
Explanation:
É um produto conhecido dos bancos brasileiros
Selected response from:

Andrea Luri Abe
Chile
Local time: 01:03
Grading comment
Selected automatically based on peer agreement.
4 KudoZ points were awarded for this answer



Summary of answers provided
5 +4Carta de Crédito Standby
Andrea Luri Abe
4 +1carta de crédito de reserva (SLOC)
Andrea Pilenso


  

Answers


7 mins   confidence: Answerer confidence 5/5 peer agreement (net): +4
standby letter of credit
Carta de Crédito Standby


Explanation:
É um produto conhecido dos bancos brasileiros


    https://www.santandertotta.pt/pt_PT/Empresas/Produtos/Negocio-Internacional/Trade-Services/Carta-de-Credito-Standby.html
Andrea Luri Abe
Chile
Local time: 01:03
Native speaker of: Native in PortuguesePortuguese
PRO pts in category: 4
Grading comment
Selected automatically based on peer agreement.

Peer comments on this answer (and responses from the answerer)
agree  Mario Freitas:
3 hrs

agree  Liane Lazoski
8 hrs

agree  Clauwolf
17 hrs

agree  neuri17
1 day 10 hrs
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8 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
standby letter of credit
carta de crédito de reserva (SLOC)


Explanation:
https://pt.talkingofmoney.com/what-is-standby-letter-of-cred...

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Note added at 9 minutos (2019-09-09 01:10:24 GMT)
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Uma carta de crédito de reserva, ou SLOC, é um instrumento financeiro que fornece uma garantia de pagamento a um beneficiário no caso de uma obrigação obrigatória não ocorrer. As cartas de crédito em espera são emitidas por um banco ou instituição financeira em nome de um cliente para garantir essencialmente um contrato que existe entre o cliente e o beneficiário

Andrea Pilenso
Brazil
Local time: 02:03
Native speaker of: Native in PortuguesePortuguese

Peer comments on this answer (and responses from the answerer)
agree  Giulia Latini
1 hr
  -> Muito obrigada, Giulia!
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