letter of credit - Meaning in Konkani
letter of credit - Meaning in Konkani
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Definitions and Meaning of letter of credit in English
letter of credit noun
- a document issued by a bank that guarantees the payment of a customer's draft; substitutes the bank's credit for the customer's credit
Description
A letter of credit (LC), also known as a documentary credit or bankers commercial credit, or letter of undertaking (LoU), is a payment mechanism used in international trade to provide an economic guarantee from a creditworthy bank to an exporter of goods. Letters of credit are used extensively in the financing of international trade, when the reliability of contracting parties cannot be readily and easily determined. Its economic effect is to introduce a bank as an underwriter that assumes the counterparty risk of the buyer paying the seller for goods.
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What is letter of credit meaning in Konkani?
The word or phrase letter of credit refers to a document issued by a bank that guarantees the payment of a customer's draft; substitutes the bank's credit for the customer's credit. See letter of credit meaning in Konkani, letter of credit definition, translation and meaning of letter of credit in Konkani. Learn and practice the pronunciation of letter of credit. Find the answer of what is the meaning of letter of credit in Konkani.
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What is letter of credit meaning in Konkani, letter of credit translation in Konkani, letter of credit definition, pronunciations and examples of letter of credit in Konkani.
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