Difference between revisions of "Letter of credit"

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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.  
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(LC).  
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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.  
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Letters of credit are frequently used in international trade to make funds available in a foreign location.
 
Letters of credit are frequently used in international trade to make funds available in a foreign location.
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== See also ==
 
== See also ==

Revision as of 11:32, 22 August 2013

(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