NOUN
- a document issued by a bank that guarantees the payment of a customer's draft; substitutes the bank's credit for the customer's credit
How To Use letter of credit In A Sentence
- Banker: There are two other modes. One is collocation; the other is letter of Credit LIC.
- It is too subtle and not easily found, clearly listed in the letter of credit terms, there is no forgery or hide, and therefore did not constitute fraud.
- It seems to me that there must be cases when illegality can affect a letter of credit.
- This standby letter of credit is neither assignable nor transferable.
- Export loan under mortgage of documents and negotiation are two kinds of financing methods under negotiation letter of credit.
- The letter of credit is subject to the uniform customs and practice for documentary credits of the international chamber of commerce.
- The project is being backed by a letter of credit from Lasalle Bank.
- It grew from the traditional commercial letter of credit, and inherited the characteristics of the letter of credit, independence principle and strict compliance standard and so on.
- an unconfirmed letter of credit
- I have arranged for my branch to send a letter of credit to the branch nearest the hotel.
