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1. (n.) letter of credit
a document issued by a banker allowing the person named to draw money to a specified amount.
2. letter of credit
a letter from a bank notifying a person that drafts on the issuer have been authorized up to a specified amount.
Etymology: (1635–45)
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| Definition of 'letter of credit' |
Princeton's WordNet |
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1. (noun) letter of credit
a document issued by a bank that guarantees the payment of a customer's draft; substitutes the bank's credit for the customer's credit
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Definitions of letter of credit 
