Detailed definitions of 3, 450 terms used in international trade, banking, shipping, and law.A letter of credit is a document issued by a bank stating its commitment to pay someone (supplier/exporter/seller) a stated amount of money on behalf of a buyer (importer) so long as the seller meets very specific terms and conditions. Letters ofanbsp;...
|Title||:||Glossary of International Trade|
|Author||:||Edward G. Hinkelman, Sibylla M. Putzi|
|Publisher||:||World Trade Press - 2009|