Letters of credit
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a letter from a bank allowing the person who has it to take a particular amount of money from a bank in another country
Letters of credit meaning & definition 1 of Letters of credit.
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a financial document in which a bank formally promises to pay a particular amount of money into the bank of a person selling goods if the goods are delivered by an agreed date and in an acceptable condition. Buyers often use letters of credit to buy goods from other countries:
Letters of credit meaning & definition 2 of Letters of credit.
