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Commercial letters of credit |
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Commercial letters of credit Trade-related agreement that a certain amount of bank funds is available to an entity. |
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? Mentioned in | ? References in periodicals archive | |
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| Commercial letters of credit are issued specifically to facilitate payment for goods. Altogether, about $7 billion of commercial letters of credit were written in the state last year, he said. The credit facility is comprised of credit lines of: (1) a $25 million borrowing base line of credit, which is available for standby letters of credit, commercial letters of credit and loans; (2) a bridge line of credit in the amount of $7 million, which is to support equipment purchases; and (3) a foreign exchange line in the amount of $10 million. |
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Commercial letters of credit
