import letter of credit definition

import letter of credit

Designation given by the importer (and his or her bank) to the commercial letter of credit (L/C) established in favor of an exporter. The same L/C is called 'export letter of credit' by the exporter (and all other banks).

import letter of credit is in the Banking, Commerce & Finance and International Trade & Relations subjects.

This content can be found on the following page:

http://www.businessdictionary.com/definition/import-letter-of-credit.html