Letter of credit: Difference between revisions
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imported>Administrator (CSV import) |
imported>John Grout (To add link to UCP) |
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* [[LOC backed]] | * [[LOC backed]] | ||
* [[Standby letter of credit]] | * [[Standby letter of credit]] | ||
* [[Uniform Customs and Practice for Documentary Credits]] | |||
Revision as of 11:23, 15 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.
