letters of credit

English - Turkish

Definition of letters of credit in English Turkish dictionary: (Ticaret) akreditifler; akreditif; akreditif mektupları

English - English

Definition of letters of credit in English English dictionary: plural form of letter of credit; (Also known as "Documentary Credit"), a Letter of Credit is an authority issued by a bank requiring the recipient to pay a sum of money to a specified person or company upon fulfilment of the stipulated terms and conditions See an animation about "Letters of Credit" by clicking here; A letter of credit is a guarantee of payment by a bank (issuing institution)to a third party for a specific amount of money, if certain conditions are met; a document where a commercial bank authorizes a broker-dealer to borrow money as required to meet its obligations The broker-dealer pays an annual fee based on a percentage of the amount borrowed; A guarantee by a bank to honor a borrowing by its customer from a third party, which states the customer has reserved on deposit with the bank sufficient funds to cover the borrowing

letters of credit

Hyphenation

let·ters of cred·it

letırz ıv kredıt

/ˈletərz əv ˈkredət/ /ˈlɛtɜrz əv ˈkrɛdət/

History

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