letter of credit

EnglishEdit

NounEdit

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Wikipedia

letter of credit (plural letters of credit)

  1. (finance, banking) A document, used primarily in trade finance and issued generally by a financial institution, in which the institution promises to pay debts up to a certain limit to be acquired by the beneficiary against delivery of documents specified in the letter.

SynonymsEdit

  • (trade finance document): documentary credit, LC, L/C

TranslationsEdit

Last modified on 16 April 2014, at 19:02