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Letter Of Credit

see synonyms of letter of credit

Noun

1. letter of credit

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 Lexical Database for English. Princeton University. 2010.

Letter Of Credit

see synonyms of letter of credit
an order authorizing a named person to draw money from correspondents of the issuer
noun
1. 
a letter issued by a bank entitling the bearer to draw funds up to a specified maximum from that bank or its agencies
2. 
a letter addressed by a bank instructing the addressee to allow the person named to draw a specified sum on the credit of the addressor bank

Collins English Dictionary. Copyright © HarperCollins Publishers

Letter Of Credit

see synonyms of letter of credit
a letter from a bank asking that the holder of the letter be allowed to draw specified sums of money from other banks or agencies, to be charged to the account of the writer of the letter

Webster’s New World College Dictionary, 4th Edition. Copyright © 2010 by Houghton Mifflin Harcourt. All rights reserved.

Letter Of Credit

see synonyms of letter of credit
n. pl. letters of credit Abbr. L/C
A letter issued by a bank authorizing the bearer to draw a stated amount of money from the issuing bank, its branches, or other associated banks or agencies.

The American Heritage ® Dictionary of the English Language, Fifth Edition copyright ©2018 by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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