Standby Letters of Credit in Commercial Real Estate Transactions

Summary

This practice note provides an overview of the use of standby letters of credit in commercial real estate transactions, including leases, purchases and sales, financing, construction, and other types of transactions. This practice note discusses the nature of a standby letter of credit, its role in various commercial real estate transactions, and considerations for representing the parties involved, including landlords, tenants, lenders, borrowers, sellers, and purchasers.