commercial letter of credit

commercial letter of credit

Black's law dictionary. . 1990.

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Look at other dictionaries:

  • commercial letter of credit — see letter of credit Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • commercial letter of credit — noun a letter of credit given to a business concern for commercial purposes • Hypernyms: ↑letter of credit * * * see letter of credit * * * commercial letter of credit, = letter of credit. (Cf. ↑letter of credit) …   Useful english dictionary

  • commercial letter of credit — See letter of credit …   Black's law dictionary

  • commercial letter of credit — See letter of credit …   Ballentine's law dictionary

  • commercial letter of credit — An obligation issued by a bank on behalf of a bank customer to a third party. A commercial or trade letter of credit is a bank promise to pay the third party for the purchase of goods by the bank s customer. If the bank s obligation to pay is not …   Financial and business terms

  • Commercial Letter of Credit — Handelskreditbrief. 1. Begriff: Der C.L.o.C. zählt zur Gruppe der ⇡ negoziierbaren Akkreditive. Die akkreditiveröffnende Bank verpflichtet sich im C.L.o.C., Tratten, die vom Akkreditivbegünstigten auf den im C.L.o.C. benannten Bezogenen (auf die… …   Lexikon der Economics

  • letter of credit — letter of credit: a document issued to a beneficiary at the request of the issuer s customer in which the issuer (as a bank) promises to honor a demand for payment by the beneficiary in order to satisfy or secure the customer s debt compare… …   Law dictionary

  • Letter of credit — After a contract is concluded between buyer and seller, buyer s bank supplies a letter of credit to seller …   Wikipedia

  • letter of credit — noun 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 • Hypernyms: ↑document, ↑credit • Hyponyms: ↑commercial letter of credit, ↑traveler s letter of credit,… …   Useful english dictionary

  • letter of credit — Succinctly, a letter authorizing the addressee to pay money or supply a commodity to a third person on the credit of the writer. 24 Am J1st Guar § 20. Wilbert Ward, in his American Commercial Credits at page 9, says: A buyer who can place in the… …   Ballentine's law dictionary

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