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issuing the letter of credit

См. также в других словарях:

  • letter of credit — letter of credit: a document issued to a beneficiary at the request of the issuer s customer in which the issuer (as a bank) promises to honor a demand for payment by the beneficiary in order to satisfy or secure the customer s debt compare… …   Law dictionary

  • Letter of credit — After a contract is concluded between buyer and seller, buyer s bank supplies a letter of credit to seller …   Wikipedia

  • letter of credit — documentary credit A letter from one banker to another authorizing the payment of a specified sum to the person named in the letter on certain specified conditions. Commercially, letters of credit are widely used in the international import and… …   Accounting dictionary

  • letter of credit — documentary credit A letter from one banker to another authorizing the payment of a specified sum to the person named in the letter on certain specified conditions (see letter of indication). Commercially, letters of credit are widely used in the …   Big dictionary of business and management

  • Transferable Letter Of Credit — A letter of credit that permits the beneficiary of the letter to make some or all of the credit available to another party, thereby creating a secondary beneficiary. The party that initially accepts the transferable letter of credit from the bank …   Investment dictionary

  • letter of credit — An engagement by a bank or other person made at the request of a customer that the issuer will honor drafts or other demands for payment upon compliance with the conditions specified in the credit. A credit may be either revocable or irrevocable …   Black's law dictionary

  • letter of credit — An engagement by a bank or other person made at the request of a customer that the issuer will honor drafts or other demands for payment upon compliance with the conditions specified in the credit. A credit may be either revocable or irrevocable …   Black's law dictionary

  • letter of credit — Date: 1645 1. a letter addressed by a banker to a correspondent certifying that a person named therein is entitled to draw on the writer s credit up to a certain sum 2. a letter addressed by a banker to a person to whom credit is given… …   New Collegiate Dictionary

  • Confirmed Letter Of Credit — A second guarantee, in addition to a letter of credit, that commits to payment of the letter of credit. A confirmed letter of credit is typically used when the issuing bank of the letter of credit may have questionable creditworthiness and the… …   Investment dictionary

  • Standby Letter of Credit - SLOC — A guarantee of payment issued by a bank on behalf of a client that is used as payment of last resort should the client fail to fulfill a contractual commitment with a third party. Standby letters of credit are created as a sign of good faith in… …   Investment dictionary

  • green clause letter of credit — Also known as anticipatory credits. A letters of credit which contains a clause authorising the nominated bank to make advances to the seller against security (such as a payment guarantee from a third party or the pre shipment storage of the… …   Law dictionary

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