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Definitions of l/c:

A document issued by a bank that guarantees the payment, for a specified time period, of a customer's drafts up to a stated amount.
www.ziplease.com/faq/gloss.asp
A document, issued by a bank per instructions by a buyer of goods, authorizing the seller to draw a specified sum of money under specified terms, usually the receipt by the bank of certain documents within a given time.
www.cecunc.org/business/international/export-terms-glossary.html
Letter of Credit - A financial document issued by a bank at the request of the consignee guaranteeing payment to the shipper for cargo if certain terms and conditions are fulfilled. Normally, the letter of credit contains a brief description of the goods, documents required, a shipping date, and an expiration date after which payment will not longer be made.
www.asmara.com/terminology.htm
An arrangement whereby an importer arranges with his bank to transfer the amount of the transaction to a Canadian bank for payment to the exporter. This amount is available to the exporter provided the requirements of the letter of credit are met. When the exporter presents his invoices and shipping documents to the bank he receives immediate payment.
www.portofhalifax.ca/AbsPage.aspx
A letter from one bank to another bank, by which a third party, usually a customer is able to obtain money.
www.thaicargo.com/termlist.htm
A method of payment for goods in which the buyer establishes his credit with a local bank, clearly describing the goods to be purchased, the price, the documentation required, and a time limit for completion of the transaction. Upon receipt of documentation, the bank is either paid by the buyer or takes title to the goods themselves and proceeds to transfer funds to the seller.
www.universallogistics.ca/html/tech-terms.html
a bank issued document that guarantees payment for a pre-specified period and amount
www.amsouth.com/CBRC/glossary.asp
Abbreviation for ”Letter of Credit.” Laden. Loaded aboard a vessel. Landed Cost. The total cost of the goods to a buyer, including the cost of transportation. LCL – LauritzenCool Logistics, specializing in perishable logistics, bringing peace of mind to their customers. – Abbreviation for ”Less than Container Load.” The quantity of freight which is less than that required for the application of a container load rate. Loose Freight.
www.lclog.com/general/glossary_print.html

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