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View definitions for letter of credit

letter of credit

noun as in bank document guaranteeing customer credit

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Example Sentences

A lawyer for James, Dennis Fan, in response called Trump's filing "procedurally improper" and argued Trump has not explained why he can't post his real estate or obtain a letter of credit.

From Salon

The bill would also limit the value of security deposits and letters of credit required for commercial leases.

While customers usually pay up front and in dollars, "we had to resort to letters of credit with those buyers from Pakistan", said Muthaura.

From Reuters

In March, to make up for the lost payments, the landlord used a letter of credit deposited by Twitter for $968,000.

Go First said the groundings had also driven some lessors to "repossess aircraft, draw down letters of credit and notify further withdrawal of aircraft."

From Reuters

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From Roget's 21st Century Thesaurus, Third Edition Copyright © 2013 by the Philip Lief Group.

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