Difference between revisions of "Letter of credit"

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[http://www.treasurers.org/node/5279 Letters of credit and supply chain finance, Will Spinney, ACT 2009]
  
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Revision as of 09:11, 11 May 2015

(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