GLOSSARY OF INTERNATIONAL TRADE TERMS

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L

Landing Certificate Legal Weight Letter Of Credit (L/C), Commercial Letter Of Credit, Advised Letter Of Credit, Clean Letter Of Credit, Confirmed Letter Of Credit, Negotiable Letter Of Credit, Red Clause Letter Of Credit, Restricted Letter Of Credit, Standby Letter Of Credit, Straight Letter Of Credit, Transferable Letter Of Instruction Licensing Lighter

Letter Of Credit (L/C), Commercial A written document issued by a bank (at the request of the bank's customer) to a specified beneficiary by which the bank substitutes its own credit for that of its customer. The bank undertakes to make payment to the beneficiary under conditions specified in the L/C. See related terms: Letter Of Credit, Standby

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