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Many subscription credit facilities will provide for the issuance of letters of credit in addition to the funding of loans. A letter of credit is an irrevocable undertaking for the payment of money ...

Commercial letters of credit provide reliable means of payment in commercial sale transactions Letter of credit and bank's payment are independent of underlying sale transaction Bank's obligation to ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Thomas J. Brock is a CFA and CPA with more than 20 years of experience in various areas ...