See more synonyms for letter of credit on Thesaurus.com- an order issued by a banker allowing a person named to draw money to a specified amount from correspondents of the issuer.
- an instrument issued by a banker authorizing a person named to make drafts upon the issuer up to an amount specified.
Origin of letter of credit
First recorded in 1635–45
Dictionary.com Unabridged
Based on the Random House Unabridged Dictionary, © Random House, Inc. 2018
British Dictionary definitions for letter of credit- a letter issued by a bank entitling the bearer to draw funds up to a specified maximum from that bank or its agencies
- a letter addressed by a bank instructing the addressee to allow the person named to draw a specified sum on the credit of the addressor bank
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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