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Corporate and Institutional Glossary

Landing Certificate Lease Line Of Credit Lease Rate (Rental Payment) Lease Schedule Legal Transfer Legal Weight Lessee Lessor 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 Indemnity Letter Of Instruction Letter Of Transmittal Letters Of Administration Letters Of Correction Level Leveraged Lease Licensing Lighter Like-Kind Property Limit Listed Security Long Position

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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