See assignment. letter of credit (L/C) (banking) Formal term: Documentary credit or documentary letter of credit. A letter of credit is a document issued by a bank stating its commitment to pay someone (supplier/exporter/seller) a stated amount anbsp;...
|Title||:||Glossary of international trade [electronic resource]|
|Author||:||Edward G. Hinkelman|
|Publisher||:||World Trade Press - 2009|