Finance

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      • Credit Rating and Credit Report
      • What is LIBOR
      • Exchange Traded and Over the Counter
      • Forward and Future Contract
      • Options
      • Derivatives
      • Hedging
      • Mortgage-backed security
      • Listed Company going Bankrupt - What does it mean ...
      • Home Equity
      • What caused US financial Crisis
      • Adjustable Rate Mortgage
      • Subprime
      • Write-off
      • Credit risk
      • Trade Finance
      • Letter of Credit (L/C)
      • Short Selling
      • Bonds
      • Floating And Fixed Exchange Rates
      • Indian Currency - Managed Float - Exchange Rate Re...
      • Progessive Tax

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Vishnu
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Friday, September 19, 2008

Letter of Credit (L/C)

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 payment on the purchase, the bank will be required to cover the full or remaining amount of the purchase.

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Posted by Vishnu at 9:02 AM

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