Strengthening Letter of Credit Security Provisions

In all too many cases, once reliable tenants are leaving landlords with only a security deposit to fall back on. In addition, if the security deposit is in the form of a letter of credit (LOC), now more than ever the landlords must also keep one eye on the financial stability of the LOC issuer.

17 minute read January 26, 2010 at 12:57 PM
By
Adam Walsh and Eric Greenberg
Strengthening Letter of Credit Security Provisions

Over the last several months, many landlords have seen a sizable number of their once financially stable tenants close their doors practically overnight as a result of looming bankruptcies, corporate restructuring or other issues.

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