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Letter of credit

By Ralph Hall,2014-11-17 19:33
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Letter of credit Definition A letter of credit is a document that a financial institution or similar party issues to a seller of goods or services which provides that the issuer will pay the seller for goods or services the seller delivers to a third-party buyer. The issuer then seeks reimbursement from the buyer or from the buyer's bank. The document serves essentially as a guaran..
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