pay by a 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 — An obligation issued by a bank on behalf of a bank customer to a third party. There are many different kinds of letters of credit. The two most common are commercial letters and standby letters. A commercial or trade letter of credit is a bank… …   Financial and business terms

• 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

• letter of credit — letters of credit 1) N COUNT A letter of credit is a letter written by a bank authorizing another bank of pay someone a sum of money. Letters of credit are often used by importers and exporters. [BUSINESS] 2) N COUNT A letter of credit is a… …   English dictionary

• letter of credit — Succinctly, a letter authorizing the addressee to pay money or supply a commodity to a third person on the credit of the writer. 24 Am J1st Guar § 20. Wilbert Ward, in his American Commercial Credits at page 9, says: A buyer who can place in the… …   Ballentine's law dictionary

• letter of credit — noun A document, used primarily in trade finance and issued generally by a financial institution, in which the institution promises to pay debts up to a certain limit to be acquired by the beneficiary against delivery of documents specified in… …   Wiktionary

• letter of credit —    A letter from a bank authorizing another bank to pay the sum specified to the person or entity named in the letter. Such letters are used primarily to help with business transactions conducted beyond the region normally covered by the bank… …   Business law dictionary

• standby letter of credit — An obligation issued by a bank on behalf of a bank customer to a third party. A standby letter of credit is a bank promise to pay the third party in the event of some defined failure by the bank s customer, usually, but not always, a failure to… …   Financial and business terms

• Confirmed Letter of Credit — A letter of credit which a bank other than the bank that opened it agrees to honor as though they had themselves issued it. This additional confirmation is in addition to the obligation of the bank which issued the letter of credit. Bloomberg… …   Financial and business terms