Last modified on 22 June 2014, at 05:01

letter of credit

EnglishEdit

NounEdit

Wikipedia has an article on:

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

TranslationsEdit