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LexisNexis Practical Guidance®
Straightforward guidance across a range of topics
- Guarantees
- Types of guarantees and indemnities in financing transactions
Standby credits as a form of guarantee
This guidance note explains what is a standby credit and the use of standby credits in financing transactions. It also explains the background and history of standby credits, for example, standby credits were first developed in the US to satisfy US banking law. Outside of the US, it is more common to use a demand guarantee.
Legal practitioners will find commentary detailing the parties to a standby credit and the roles they play.
This guidance note also outlines the potential application of international standards to standby credits that legal practitioners may come across, including ISP 98 and UCP 600.
See Standby credits as a form of guarantee.
