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letter of credit
(redirected from credit, letter of)

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Letter of Credit
A letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount.

Notes:
Often used in international transactions to ensure that payment will be received.

Letter of credit (LOC)
A form of guarantee of payment issued by a bank on behalf of a borrower that assures the payment of interest and repayment of principal on bond issues.
letter of credit
A promise of payment in the event that certain requirements are met. A letter of credit essentially substitutes the credit of a third party (usually a large bank) for that of a borrower. In the case of municipal bonds, an LOC generally permits a trustee to draw six months' interest and sufficient funds to retire outstanding bonds at par in the event of default.
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? Mentioned in ? References in periodicals archive
 
Products and services include asset-based lines of credit, letter of credit facilities, acquisition financing, growth capital, bank loan refinancings, term debt and import/export trade services.
GE Commercial Finance Business Credit Names Daniel A. Greene Team ... by Business Wire
Products and services include asset-based lines of credit, letter of credit facilities, acquisition financing, growth capital, bank loan refinancings, term debt and import/export trade services.
GE Commercial Finance Business Credit Names Stephen Philpott Senior ... by Business Wire
Its products and services include asset-based lines of credit, letter of credit facilities, acquisition financing, growth capital, bank loan refinancings, term debt and import/export trade services.
GE Commercial Finance Corporate Lending Names Gerard Hanabergh To ... by Business Wire
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