Difference between revisions of "Letter of credit"

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== See also ==
 
== See also ==
 
* [[Advising bank]]
 
* [[Advising bank]]
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* [[Bank payment obligation]]
 
* [[Clean letter of credit]]
 
* [[Clean letter of credit]]
 
* [[Commercial risk]]
 
* [[Commercial risk]]

Revision as of 14:20, 17 October 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


Other links

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