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单词 letter of hypothecation
释义

letter of hypothecation

Definition
Written agreement, which authorizes a bank or lender to repossess and sell the pledged item in case of a default. In international trade, a letter of hypothecation enables an accepting bank to sell the shipment in case of the non-acceptance or non-payment of the associated bill of exchange by the buyer.
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更新时间:2025/3/15 0:09:07