holder of letter of credit
1Letter 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. In the event that the buyer is unable to make payment on the purchase, the bank will be required to cover the full or… …
2letter of credit — n. a letter from a bank asking that the holder of the letter be allowed to draw specified sums of money from other banks or agencies, to be charged to the account of the writer of the letter …
3letter of credit — An engagement by a bank or other person made at the request of a customer that the issuer will honor drafts or other demands for payment upon compliance with the conditions specified in the credit. A credit may be either revocable or irrevocable …
4letter of credit — An engagement by a bank or other person made at the request of a customer that the issuer will honor drafts or other demands for payment upon compliance with the conditions specified in the credit. A credit may be either revocable or irrevocable …
5Confirmed Letter Of Credit — A second guarantee, in addition to a letter of credit, that commits to payment of the letter of credit. A confirmed letter of credit is typically used when the issuing bank of the letter of credit may have questionable creditworthiness and the… …
6letter — n. & v. n. 1 a a character representing one or more of the simple or compound sounds used in speech, any of the alphabetic symbols. b (in pl.) colloq. the initials of a degree etc. after the holder s name. c US a school or college initial as a… …
7credit — I (New American Roget s College Thesaurus) I n. faith, belief; credibility, trust; credit, borrowing power. v. t. believe, trust; credit. See accounting. II Borrowing power Nouns 1. credit, trust, score, tally, account, tab; loan (see debt);… …
8Credit card — Personal finance Credit and debt Pawnbroker Student loan Employment contract Salary Wage Empl …
9Credit default swap — If the reference bond performs without default, the protection buyer pays quarterly payments to the seller until maturity …
10red clause credit — /ˌred klɔ:z kredɪt/ noun a letter of credit authorising the holder to receive an advance payment, usually so that he can continue trading …
