Definition of mechanical: Camera-ready, final layout of all elements of a work to be reproduced through a commercial printing process. It is a pasteup of the typeset text and images on a sheet of paperboard, usually with a ...
Standby Letter of Credit. A statement issued by a bank to the buyer of a good stating that the seller will receive payment on time and in the correct amount. If the buyer fails to make payment, the bank will do so on his/her behalf.
As the applicant of the Standby Letter of Credit, you should advise your Trade Finance Centre whether or not you want the Standby Letter of Credit renewed, well before the expiry date. Otherwise, the Standby Letter of Credit will continue to automatically renew and you will be charged the corresponding fees.