letter of credit noun [C] (abbr l.c., L/C)

CONFIRMED LETTER OF CREDIT, IRREVOCABLE LETTER OF CREDIT

(Finance ; Trade )

a letter that a bank prepares for a customer in which it agrees to pay sb an amount of money under particular circumstances, used especially as a way of paying for imported goods:

The importer asks the bank to issue a letter of credit on his behalf.

⇨ DOCUMENTARY CREDIT

• internal consultancy
• internal customer
• internal equity
• internal labour market
• internal market
• internal rate of return
• Internal Revenue Code
• Internal Revenue Service
• internal search
• international
• International Accounting Standards
• International Accounting Standards Board
• international airport
• International Chamber of Commerce
• International Civil Aviation Organization
• International Financial Reporting Standards
• International Labour Organization
• international labour standards
• international law
• international management
• international monetary system
• International Reply Coupon
• International Securities Exchange
• Internesia
• Internet