drawn the letter of credit
1Letter of credit — Credit Cred it (kr[e^]d [i^]t), n. [F. cr[ e]dit (cf. It. credito), L. creditum loan, prop. neut. of creditus, p. p. of credere to trust, loan, believe. See {Creed}.] 1. Reliance on the truth of something said or done; belief; faith; trust;… …
2letter 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 …
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 …
4traveler's letter of credit — A type of letter of credit which is addressed to a correspondent. When the traveler wishes to draw credit on the correspondent bank, he identifies himself as the person in whose favor the credit is drawn …
5circular letter of credit — Credit Cred it (kr[e^]d [i^]t), n. [F. cr[ e]dit (cf. It. credito), L. creditum loan, prop. neut. of creditus, p. p. of credere to trust, loan, believe. See {Creed}.] 1. Reliance on the truth of something said or done; belief; faith; trust;… …
6Synthetic Letter Of Credit — A letter of credit that has been pre funded by the bank on the closing date, instead of when the funds are drawn as needed. The funds accessible through a synthetic letter of credit are typically held in a credit linked deposit account until… …
7clean letter of credit — A letter of credit that can be drawn upon with a simple written request not supported by other documentation. Often used to identify or describe standby letters of credit. This type of letter of credit is often used to enhance the credit quality… …
8revolving letter of credit — a letter of credit authorizing drafts up to a specified amount and permitting additional drafts to be drawn up to the amount of accepted drafts previously paid off …
9letter of identification — noun a letter signed by a banker issued together with a letter of credit, also signed by the person in whose favour the credit is issued, thus enabling identification to the paying agent when cashing drafts drawn under the letter of credit. Also …
10The Cantos — by Ezra Pound is a long, incomplete poem in 120 sections, each of which is a canto . Most of it was written between 1915 and 1962, although much of the early work was abandoned and the early cantos, as finally published, date from 1922 onwards.… …
