letters of credit
Trade payment documents
Letters of credit are financial documents issued by banks guaranteeing payment to a seller on behalf of a buyer.
They're essential in international trade, where buyers and sellers don't know each other: the bank promises to pay if the seller meets specified conditions, typically providing shipping documents.
The exporter required a letter of credit before releasing the shipment.
Obtain from overseas
- exportForeign-bound sale
- commoditiesTradeable raw materials
- shippingTransporting goods to destinations
- invoiceItemized billing statement
customs · logistics · freight · consignment · cargo · supplier · buyer · exporter
Factual film about reality
- beneficiaryDesignated asset receiver
- irrevocableCannot be undone
- revocableAble to be canceled
- standbyReady substitute awaiting use
commercial · sight · draft · presentation · expiry date · validity · amendment · discrepancy
Ability to repay debts
- obligationRequired task or commitment
- indemnityProtection against financial loss
- suretyBacker of obligation
- bondBinding tie or connection
commitment · backing · confirmation · guarantor · collateral · underwriting · settlement · honor
Written proof or instructions
- presentationFormal display to viewers
- inspectionFormal assessment of condition
- packing listItemized travel preparation sheet
- commercial invoiceSeller's itemized export document
insurance certificate · due diligence · discrepant · waiver · examination
import
Obtain from overseas
- exportForeign-bound sale
- commoditiesTradeable raw materials
- shippingTransporting goods to destinations
invoice · customs · logistics · freight · consignment · cargo · supplier · buyer · exporter · importer
documentary
Factual film about reality
- beneficiaryDesignated asset receiver
- irrevocableCannot be undone
- revocableAble to be canceled
standby · commercial · sight · draft · presentation · expiry date · validity · amendment · discrepancy · reimbursement
creditworthiness
Ability to repay debts
- obligationRequired task or commitment
- indemnityProtection against financial loss
- suretyBacker of obligation
bond · commitment · backing · confirmation · guarantor · collateral · underwriting · settlement · honor · recourse
documentation
Written proof or instructions
- presentationFormal display to viewers
- inspectionFormal assessment of condition
- packing listItemized travel preparation sheet
commercial invoice · insurance certificate · due diligence · discrepant · waiver · examination
- international tradeglobal trade, customs, tariffs, freight, exports
- early bankingmoney changers, moneylenders, moneylending, money lending, loans
- liabilitiesaccounts payable, tax liability, payables, short-term debt, long-term debt
- contingent liabilitiesguarantees, loan guarantees, warranties, indemnities, warranty claims
- corporate bankingcorporate finance, corporate loans, debt financing, cash management, bridge loans
- commercetrade, banking, merchant, imports, sales
letters of creditcash
Ready spending funds
cash payment · open account · cash on delivery · direct payment · unsecured credit
letters of creditopen account
Ongoing credit arrangement
verbal agreement · handshake deal · consignment · petty cash
letter, letters, credit, credits, lettered, lettering, letterer, credited, crediting