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Roundtable Discussion; The Future of Mineral Sands
Roundtable Discussion; The Future of Mineral SandsView Video

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  5. Letter of Credit

Letter of Credit

Definition of 'Letter of Credit'

A credit drawn up by an importer in favour of an exporter. It is endorsed by a bank that guarantees payment provided the beneficiary delivers the Bill of Lading proving that the goods have been shipped.

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Related Terms

Allotment LetterCall PaymentsCredit RatingCCCCredit PeriodWorking Capital CycleClient Agreement LetterCreative AccountingAcceptance CreditAnnualise Percentage Rate of InterestBACSBankruptcyCapCash-Conversion CycleCommodity Credit CorporationCredit RiskCredit UnionFactoringFinance HouseInstalment Credit

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