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Letter of Credit

UNODC Money Laundering Terms DictionaryUNODC Money-Laundering Terms Dictionary
Instrument or document issued by a bank, guaranteeing the payment of a customer's drafts up to a stated amount for a specified period. Letters of Credit substitute the bank's credit for the buyer's and eliminate the seller's risk. They are used extensively in international trade.
Copyright © 2005 UNODC - United Nations Office on Drugs and Crime.
 

UNODC Money Laundering Terms Dictionary INDEX:

List of Terms: Terms beginning with "A", Page 1

A B C D E F G H I K L M N O P R S T U V W Y Z 1
1

A: Page 1 of 1.

Administered Bank
Agency Bank
Annuity
Articles of Associa...Asia-Pacific Group ...Asset Protection Tr...
Association of Bank...Audit
Authorized Agent
Authorized Dealer B...

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