Letter of Credit
A letter of credit, or “credit letter” is a letter from a bank guaranteeing that a buyer’s payment to a seller will be received on time and for the correct amount. In the event that the buyer is unable to make a payment on the purchase, the bank will be required to cover the full or remaining amount of the purchase. It may be offered as a letter
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Category: Financial Management Tags: epistle, Letter of Credit, missive, post, tick, trust