Meaning Of The Word Letter of credit
What's the definition of Letter of credit? Find Letter of credit meanings, definitions and more at the Real Dictionary online.
Letter of credit Meaning
| Letter of credit Definition |
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What's The Definition Of Letter of credit?
letter of credit
countable noun: A letter of credit is a letter written by a bank authorizing another bank to pay someone a sum of money. Letters of credit are often used by importers and exporters. letter of credit in British English a letter from a bank asking that the holder of the letter be allowed to draw specified sums of money from other banks or agencies, to be charged to the account of the writer of the letter an order authorizing a named person to draw money from correspondents of the issuer abbreviation: letter of credit noun: a letter issued by a bank entitling the bearer to draw funds up to a specified maximum from that bank or its agencies noun: an order issued by a banker allowing a person named to draw money to a specified amount from correspondents of the issuer letter of credit in Finance noun: A letter of credit is a letter written by a bank authorizing another bank to pay someone a sum of money. |
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