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LETTER OF CREDIT

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1LETTER OF CREDIT Empty LETTER OF CREDIT Sat Sep 20, 2008 11:30 pm

barrister

barrister
Reclusion Perpetua

a letter issued by one merchant to another for the purpose of attending to a commercial transaction. In banking practice, it is a request by one bank to another bank to advance or
give money to a third person on the basis of the letter and on the credit of the person issuing it.

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