letter of credit payment method

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• 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 — /ˌletər əv kredɪt/ noun a document issued by a bank on behalf of a customer authorising payment to a supplier when the conditions specified in the document are met (this is a common method of guaranteeing payment by overseas customers). Abbr L/C …   Marketing dictionary in english

• irrevocable letter of credit — Assurance of funds issued by a bank that cannot be canceled or amended without the beneficiary s approval. Bloomberg Financial Dictionary * * * irrevocable letter of credit irrevocable letter of credit ➔ letter of credit * * * irrevocable letter… …   Financial and business terms

• Fully Funded Documentary Letter Of Credit - FFDLC — A written promise of payment provided by a buyer to a seller that is guaranteed to clear by a particular bank. Once an FFDLC document is presented by the seller to the involved bank, the bank is obliged to remit full payment to the seller. The… …   Investment dictionary

• credit — an entry made on the right hand side of an account and indicating a gain to a liability, owner s equity or revenue account. Glossary of Business Terms money loaned. Bloomberg Financial Dictionary * * * ▪ I. credit cred‧it 1 [ˈkredt] noun 1.… …   Financial and business terms

• Credit — Money loaned. The New York Times Financial Glossary * * * ▪ I. credit cred‧it 1 [ˈkredt] noun 1. [uncountable] COMMERCE an arrangement with a shop, supplier etc to buy something now and pay for it later: • They are saving for new furniture… …   Financial and business terms

• Credit card — Personal finance Credit and debt Pawnbroker Student loan Employment contract Salary Wage Empl …   Wikipedia

• Credit default swap — If the reference bond performs without default, the protection buyer pays quarterly payments to the seller until maturity …   Wikipedia

• Credit rating agency — Corporate finance …   Wikipedia

• Methods of payment in International trade — Popular methods of payment used in international trade include: cash with order(CWO) the buyers pay cash when he places an order. cash on delivery(COD) the buyer pays cash when the goods are delivered. documentary credit a Letter of credit (L/C)… …   Wikipedia

• commercial transaction — ▪ economics Introduction       in law, the core of the legal rules governing business dealings. The most common types of commercial transactions, involving such specialized areas of the law and legal instruments as sale of goods and documents of… …   Universalium