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Letter of credit l/c

• A letter written by a company's bank to the company's foreign supplier, stating that the bank guarantees payment of an invoiced amount if all the underlying agreements are met.

• A form of guarantee of payment issued by a bank used to guarantee the payment of interest and repayment of principal on bond issues.

 
 

Follow this link for all the terms related to credit.

 
 Embedded terms in definition
 Bond
Foreign
Interest
Principal
Underlying
 
 Related Terms
 

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Remember not only to say the right thing in the right place, but far more difficult still, to leave unsaid the wrong thing at the tempting moment. - Benjamin Franklin

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