Bank Letter of Credit Policy

Bank Letter of Credit Policy

Standards allowing banks to confirm letters of credit by foreign banks supporting the purchase of US exports.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Bank Letter of Credit Policy

An insurance policy the Export-Import Bank offers to U.S. banks guaranteeing payment on letters of credit written by foreign banks. This reduces the political risk, and other risks, associated with honoring letters of credit from foreign countries. As such, the bank letter of credit policy facilitates international commerce.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
Copyright © 2003-2025 Farlex, Inc Disclaimer
All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional.