Letter of credit: Difference between revisions
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imported>John Grout (To add link to UCP) |
imported>Doug Williamson m (Spacing 22/8/13) |
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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. | (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. | Letters of credit are frequently used in international trade to make funds available in a foreign location. | ||
== 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.
