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What's the LC type that considered to be a guarantee?

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Question added by Milad Zia , Head of Trade Finance Department , Commercial Bank of Iraq S.A
Date Posted: 2013/09/22
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Venkatesan Ramani
by Venkatesan Ramani , Specialist - Trade Finance operations , Abu dhabi Commercial bank

Its a Stanby Letter of credit. 

Milad Zia
by Milad Zia , Head of Trade Finance Department , Commercial Bank of Iraq S.A

@Mohammed: Actually it's a Stand/By LC.

Mohamed Ali Galal
by Mohamed Ali Galal , Head of Export & Import Operations and Logistics , Asfour for Mining and Refractories

LC type that considered to be a guarantee is a confirmed L/C by first class bank

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