What is the meaning of letter of credit?

Subtopics: L/C, LOC 

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. .
WordNet 3.0 © 2006 by Princeton University
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APAWordNet. (2010). letter of credit. Retrieved September 23, 2026, from http://smartdefine.org/letter_of_credit/definitions/1243021
ChicagoWordNet. 2010. "letter of credit" http://smartdefine.org/letter_of_credit/definitions/1243021 (accessed September 23, 2026).
HarvardWordNet 2010, letter of credit, Smart Define, viewed 23 September, 2026, <http://smartdefine.org/letter_of_credit/definitions/1243021>.
MLAWordNet. "letter of credit" 23 October 2010. Web. 23 September 2026. <http://smartdefine.org/letter_of_credit/definitions/1243021>
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