X-Nico

unusual facts about letter of credit



Northcentral University

In 2011 the US Department of Education determined Northcentral was one of 75 US institutions failing its 2009-2010 financial responsibility test (a measure of the institution's financial solvency), and would be required to post a letter of credit in order for students to receive federal financial aid.


see also

J. C. Fargo

Mr. Fargo went to Marcellus Flemming Berry and asked him to create a better solution than the traditional letter of credit.

TBC Bank

The European Bank for Reconstruction and Development (EBRD) was the first financial institution to enter into an agreement to join the “Letter of Credit Support Project.” Since then, TBC has worked on trade finance transactions with various international financial institutions and commercial banks, and has raised TF facilities from BSTDB, ADB and IFC.