English version

documentary credit in Banking topic

From Longman Business Dictionarydocumentary creditˌdocumentary ˈcredit [uncountable]BANKINGCOMMERCE a method of financing international trade where a bank agrees to pay the exporter when it receives the related trade documents SYN LETTER OF CREDITThe importer can be sure that no payment will be made until the exporter has provided evidence that the goods have been shipped in accordance with the terms of the documentary credit. credit