Letter of credit: Difference between revisions
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[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:Manage_risks]] | [[Category:Manage_risks]] | ||
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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
- 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
