Defenition of the word letter of credit

• Defenition of the word 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
  • 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

Hyponyms for the word letter of credit

• • commercial letter of credit
  • traveler's letter of credit
  • traveller's letter of credit

Hypernyms for the word letter of credit

• • credit
  • document

See other words

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