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letter of credit

   Also found in: Medical, Legal, Financial, Acronyms, Encyclopedia, Wikipedia 0.01 sec.
letter of credit
n. pl. letters of credit Abbr. L/C
A letter issued by a bank authorizing the bearer to draw a stated amount of money from the issuing bank, its branches, or other associated banks or agencies.
letter of credit
n
1. (Economics, Accounting & Finance / Banking & Finance) a letter issued by a bank entitling the bearer to draw funds up to a specified maximum from that bank or its agencies
2. (Economics, Accounting & Finance / Banking & Finance) a letter addressed by a bank instructing the addressee to allow the person named to draw a specified sum on the credit of the addressor bank
ThesaurusLegend:  Synonyms Related Words Antonyms
Noun1.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
credit - money available for a client to borrow
commercial letter of credit - a letter of credit given to a business concern for commercial purposes
traveler's letter of credit, traveller's letter of credit - a letter of credit given to a traveler
document - a written account of ownership or obligation
Translations
letter of credit n → lettera di credito
documentary letter of credit → lettera di credito documentata
letter of credit n → lettera di credito
documentary letter of credit → lettera di credito documentata


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? Mentioned in ? References in classic literature
 
Will you remit your letter of credit to the king, monsieur le comte?
Ten Years Later by Dumas, Alexandre View in context
In his right pocket he had his letter of credit, in the left, his passport, and in a small leathern purse some double louis d'or, carefully sewn up in the bosom of his waistcoat.
Andersen's Fairy Tales by Andersen, Hans Christian View in context
Their passage to America would be secretly paid; and they would take with them a letter of credit addressed to a banker in New York.
I Say No by Collins, Wilkie View in context
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