Definitions
Example Sentences
"The exporter required a letter of credit from the buyer's bank as a guarantee of payment."
"The company applied for a letter of credit to secure funds for importing raw materials."
"The letter of credit can be used as collateral to obtain a loan from a financial institution."
"The supplier insisted on a confirmed letter of credit to ensure prompt payment."
"The buyer's bank issued a sight letter of credit, allowing the seller to receive immediate payment upon delivery."
