Letter of credit: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>P.F.cowdell@shu.ac.uk m (Categorise the page) |
imported>Doug Williamson m (Link with new Trade finance page.) |
||
| Line 20: | Line 20: | ||
* [[LOC backed]] | * [[LOC backed]] | ||
* [[Standby letter of credit]] | * [[Standby letter of credit]] | ||
* [[Trade finance]] | |||
* [[Uniform Customs and Practice for Documentary Credits]] | * [[Uniform Customs and Practice for Documentary Credits]] | ||
| Line 26: | Line 27: | ||
[http://www.treasurers.org/node/5279 Letters of credit and supply chain finance, Will Spinney, ACT 2009] | [http://www.treasurers.org/node/5279 Letters of credit and supply chain finance, Will Spinney, ACT 2009] | ||
[[Category: | [[Category:Trade_finance]] | ||
[[Category: | [[Category:Manage_risks]] | ||
[[Category: | [[Category:Risk_frameworks]] | ||
Revision as of 16:30, 9 September 2014
(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
- Advising bank
- Bank payment obligation
- Clean letter of credit
- Commercial risk
- Condition
- Confirmed letter of credit
- Confirming bank
- Credit
- Documentary credit
- Irrevocable letter of credit
- Issuing bank
- LOC backed
- Standby letter of credit
- Trade finance
- Uniform Customs and Practice for Documentary Credits
Other links
Letters of credit and supply chain finance, Will Spinney, ACT 2009
