Letters of Credit

Overview

Showing that you mean business starts with getting your project off the ground. A letter of credit from Primis gives you the guarantee third parties require to begin new large-scale or international business relations. We provide the support you need to take your business to the next level

More Details

Provides guarantee on payments of large purchases to third parties

Can replace need for costly insurance company performance bond

Can also be used to guarantee a service

Typically issued for 1-year term or less

Terms easily renewed
Interest accrues only if we must make payment to beneficiary on your behalf

Beneficial Ownership Requirements

All Primis business account holders will be required, due to regulatory reasons, to provide us with certain information on its Beneficial Owners.

This information must be provided on Primis’s Beneficial Owner Form before a new account can be opened, or any changes can be made to an existing account.

All loans are subject to approval.