Letter of credit: Difference between revisions
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imported>Maw@allmanward.com (Link to Bank payment obligation) |
imported>P.F.cowdell@shu.ac.uk m (Categorise the page) |
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Revision as of 12:25, 13 August 2014
(LC).
A promise document issued by a bank or another issuer to a third party to make a payment on behalf of a customer in accordance with specified conditions.
Letters of credit are frequently used in international trade to make funds available in a foreign location.
See also
- Advising bank
- Bank payment obligation
- Clean letter of credit
- Commercial risk
- Condition
- Confirmed letter of credit
- Confirming bank
- Credit
- Documentary credit
- Irrevocable letter of credit
- Issuing bank
- LOC backed
- Standby letter of credit
- Uniform Customs and Practice for Documentary Credits
Other links
Letters of credit and supply chain finance, Will Spinney, ACT 2009
