Standby Letters of Credit

 

There are times when you may need a bank to back up an obligation to a third party. You can do this with a Huntington Standby Letter of Credit.

Standbys are used for a wide variety of purposes, replacing the need for:

  • Bid bonds
  • Performance bonds
  • Down payments
  • Guarantees
  • Evidence of financial responsibility

How do Huntington Standby Letters of Credit help your business?

  • Widely accepted: Government agencies readily accept Huntington Standbys to support your obligations for self-insurance under Workers’ Compensation programs.
  • Lower interest rates: Our high credit ratings mean that your bond issue, when backed by our Standby, can offer you a much lower rate of interest than you would pay for other types of debt.
  • Reduced costs: Huntington Standbys are usually less expensive than bonds from insurance companies.

To learn more about Standby Letters of Credit, contact your Banker or International Specialist.  You can also call International Direct at 1-877-480-INTL (4685) Monday to Friday, 8:00 a.m. to 5:00 p.m. ET. Or email us at International@huntington.com.