PROVIDERS OF STANDBY LETTERS OF CREDIT

  1. The applicant sends his application for review.
  2. Once approved an Agreement is entered into by PFIG and the client.
  3. Upon signing of the Agreement the applicant places the fee either into the escrow account of a reputable law firm or directly with the issuer.            (The fee is only due upon fulfilment of the Agreement.)
  4. The bank instrument is issued and delivered to the beneficiary.
  5. The escrow agent or the issuer respectively disposes of the fee in accordance to the Agreement.