Meaning of LETTER OF CREDIT

WordNet Dictionary
	Definition:		[n]  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
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	See Also:		commercial letter of credit, credit, document, traveler's letter of credit, traveller's letter of credit
Thesaurus Terms
	Related Terms:		acceptance, acceptance bill, aerogram, air letter, airgraph, bank acceptance, bank check, bill, bill of draft, bill of exchange, billet-doux, blank check, bull, CD, certificate, certificate of deposit, certified check, chain letter, charge card, charge plate, check, checkbook, cheque, circular note, commercial paper, credit card, credit instrument, credit slip, dead letter, debenture, demand bill, demand draft, deposit slip, dimissorial, dimissory letter, draft, drop letter, due bill, encyclical, exchequer bill, fan letter, form letter, IOU, letter of introduction, letters credential, letters of marque, letters of request, letters overt, letters patent, letters rogatory, love letter, MO, money order, monitory, negotiable instrument, newsletter, nixie, note, note of hand, open letter, paper, Pastoral Epistle, pastoral letter, poison-pen letter, postal order, promissory note, round robin, sight bill, sight draft, time bill, time draft, trade acceptance, treasury bill, voucher, warrant