Letter of credit

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Revision as of 14:20, 17 October 2013 by imported>Maw@allmanward.com (Link to Bank payment obligation)
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(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


Other links

Letters of credit and supply chain finance, Will Spinney, ACT 2009