letter of credit
A document, used primarily in trade finance and issued generally by a financial…A document, used primarily in trade finance and issued generally by a financial institution, in which the institution promises to pay debts up to a certain limit to be acquired by the beneficiary against delivery of documents specified in the letter.
» They can’t start their import business without a letter of credit.
Tangobango · Tatoeba · CC BY 2.0 FRMeaning
1 sensesA document, used primarily in trade finance and issued generally by a financial institution, in which the institution promises to pay debts up to a certain limit to be acquired by the beneficiary against delivery of documents specified in the letter.
Akkreditiv
аккредити́вakkreditív
- 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
Examples
2 sentencesThey can’t start their import business without a letter of credit.
The banker was an expert and was able to establish the letter of credit quickly.
Translations
6 languagesBy meaning 1
By meaning 1
Forms
plural: letters of credit| Singular | letter of credit |
|---|---|
| Plural | letters of credit |
irregular · Lesson
Synonyms
3 synonymsWord family
5 related wordsLessons for this word
1 lessons- A1Plural nouns — Because its plural is irregular
See also
neighbours in the dictionaryDictionary text adapted from Wiktionary (Wiktionary contributors, CC BY-SA 4.0) and Open English WordNet / Princeton WordNet (CC BY 4.0, WordNet License); shared under CC BY-SA 4.0. Example sentences and recordings are credited where they appear.