Term letter of credit: Difference between revisions
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imported>Doug Williamson (Create page. Source: Deferred payment letter of credit page.) |
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Revision as of 15:49, 1 May 2018
(Term LC).
A term letter of credit is a letter of credit payable at a predetermined future date, after the conforming documents are presented.
Term LCs are also known as usance LCs, time LCs or deferred payment LCs (contrasted with sight LCs).
