English Explanatory Dictionary

letter of credit

English dictionary entry

Meanings

noun
  1. A document, used primarily in trade finance and issued generally by a financial institution, in which the institution promises to pay debts up to a certain limit to be acquired by the beneficiary against delivery of documents specified in the letter.

Word forms

letter of credit letters of credit

Synonyms

documentary credit LC L/C

Related words

letter of indemnity letter of introduction letters patent promissory note vouch voucher vouchsafe

Derived words

commercial letter of credit irrevocable letter of credit time letter of credit
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