Inspire confidence and add more certainty to larger purchases — guarantee payment with a letter of credit from Chelsea State Bank.
Key Features
- Local Decisions
- Friendly Service
Benefits
- 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
- Fee is based on face value amount
- Interest accrues only if we must make payment to a beneficiary on your behalf
- Customized terms designed around your unique needs
- Fast, local decisions made here in our Chelsea and Dexter communities
- Attentive, friendly service from start to finish