Lexica → Phrase → letter of credit
| Letter | L |
|---|---|
| Letter name | el or ell |
| Pronounciation | /ɛl/ |
| Phrase: | letter of credit |
|---|---|
| Pronounciation: | |
| Century: | 1st |
| DA Name: | |
| Era: | C.E. |
| Origin: | Original |
| Type: | Official |
| Source Language: | Latin |
Source Language Words: | |
| Source Text: | |
Definition: | a definite undertaking that satisfies the requirements of an issuer to a beneficiary at the request or for the account of an applicant or, in the case of a financial institution, to itself or for its own account, to honor a documentary presentation by payment or delivery of an item of value |
