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letter of credit

/ˈlɛtər əv ˈkrɛdət/ /ˈlɛtə əv ˈkrɛdɪt/
noun
GeneralBanking
  1. 1 akreditif countable

Definition (English)

A bank's written promise to pay a seller a specific amount of money on behalf of a buyer, provided certain conditions are met.

Example Sentences

  1. The buyer opened a letter of credit for the transaction.
    Alıcı, işlem için bir akreditif açtı.
  2. We need a letter of credit to secure the payment.
    Ödemeyi güvence altına almak için bir akreditife ihtiyacımız var.

Phrases 26

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