LETTER OF CREDIT


Meaning of LETTER OF CREDIT in English

1.

A ~ is a letter written by a bank authorizing another bank of pay someone a sum of money. Letters of credit are often used by importers and exporters. (BUSINESS)

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2.

A ~ is a written promise from a bank stating that they will repay bonds to lenders if the borrowers is unable to pay them. (BUSINESS)

The project is being backed by a ~ from Lasalle Bank.

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Collins COBUILD.      Толковый словарь английского языка для изучающих язык Коллинз COBUILD (международная база данных языков Бирмингемского университета) .