L
A bank instrument, held by the landlord as security, that can be drawn without a court proceeding if the tenant defaults.
More landlord-friendly than a cash deposit because it is off the tenant's balance sheet and can be drawn on default without litigation. Tenants negotiate burn-down provisions that reduce the LC amount as the lease term advances.
REAL
REAL extracts and structures this field from your documents so your team can act on it — no manual abstraction required.