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, Negotiable An L/C that is available to the beneficiary by negotiation of documents with any bank. The issuing bank's engagement to make payment extends to "bona fide holders of drafts." See related terms: Guarantor Letter Of Credit, Restricted Letter Of Credit, Straight Negotiation Credit

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