Defenition of the word letter of credit
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Defenition of the word letter of credit
- a document issued by a bank that guarantees the payment of a customer's draft; substitutes the bank's credit for the customer's credit
- a document issued by a bank that guarantees the payment of a customer''s draft; substitutes the bank''s credit for the customer''s credit
Hyponyms for the word letter of credit
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- commercial letter of credit
- traveler's letter of credit
- traveller's letter of credit
Hypernyms for the word letter of credit
See other words