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  • The Financial Encyclopedia
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Standby L/C

A letter of credit (LC) that represents a guarantee by an issuing bank rather than a source for payment. A...

    Standby Letter of Credit

    A letter of credit (LC) that represents a guarantee by an issuing bank rather than a source for payment. A...

      Domestic Letter of Credit

      A letter of credit that represents a guarantee by an issuing bank rather than a source for payment. A bank...

        Documentary Letter of Credit

        A common method of payment that is used in international transactions to facilitate trade by extending credit to banks’ clients....