7 Pairs of Commonly Confused Words What's the difference between 'fascism' and 'socialism'? More Commonly Misspelled Words Words You Always Have to Look Up Your vs. You're: How to Use Them Correctly Popular in Wordplay See All More Words with Remarkable Origins ...
7 Pairs of Commonly Confused Words What's the difference between 'fascism' and 'socialism'? More Commonly Misspelled Words Words You Always Have to Look Up Your vs. You're: How to Use Them Correctly Popular in Wordplay See All More Words with Remarkable Origins ...
Noun1.letter of credit- a document issued by a bank that guarantees the payment of a customer's draft; substitutes the bank's credit for the customer's credit credit- money available for a client to borrow commercial letter of credit- a letter of credit given to a business concern for co...
Learn the definition and meaning of a letter of credit (LC) and understand its working. Explore the various types of LC and view a letter of credit...
Noun1.letter of credit- a document issued by a bank that guarantees the payment of a customer's draft; substitutes the bank's credit for the customer's credit credit- money available for a client to borrow commercial letter of credit- a letter of credit given to a business concern for co...
(1) of the definition of Letter of Credit Draw Amount under a Letter of Credit Demand shall be deposited by the Indenture Trustee into the Note Distribution Account and (ii) clause (2) or (3) of the definition of Letter of Credit Draw Amount under a Letter of Credit Demand shall be ...
(plural letters of credit) (finance) a letter from a bank that allows you to get a particular amount of money from another bank, especially one in a different country Definitions on the go Look up any word in the dictionary offline, anytime, anywhere with the Oxford Advanced Learner’...
Though an important instrument in international trade, letters of credit are complex, and their definition can cause confusion.
letter is as good as a guarantee to the seller that the payment will be cleared even if the buyer fails to do so—the risk of non-payment shifts from the seller to the bank. Generally, the entireprocess of a letter of creditalso involves another bank that works as an advisor to the ...
sellers of manufactured goods often require a letter of credit guaranteeing that they will receive the money they are due—on time and for the full, correct amount—before proceeding to fill a customer's order. The buyer applies to a bank to obtain the letter of credit and pays a fee to...