BNET Business Dictionary
Business Definition for: Letter Of Credit
- a letter issued by a bank that can be presented to another bank to authorize the issue of credit or money.
- Abbr. L/C
- Also known as Irrevocable Letter Of Credit
Additional Resources
- Letter of Credit (Irrevocable)
- This is a template of letter of credit Irrevocable. A letter of credit is a document issued mostly by a financial institution which usually provides an irrevocable payment undertaking to a beneficiary against complying documents as stated in the Letter of Credit. Irrevocable letter of credit can be neither amended...
- Tools & templates 2007-12-01
- Letter Of Credit (General)
- This is a template of letter of credit. A letter of credit is a document issued mostly by a financial institution which usually provides an irrevocable payment undertaking to a beneficiary against complying documents as stated in the Letter of Credit.
- Tools & templates 2007-12-01
- BNP Paribas Provides Los Angeles World Airports Direct Letter of Credit Facility
- SAN FRANCISCO -- BNP Paribas today announced that it had provided Los Angeles World Airports LAWA a 5 year $163,500,000 direct pay letter of credit facility to support LAWA's subordinate commercial paper CP program and a 5 year $82,006,543 direct pay letter of credit facility to support LAWA's subordinate lien...
- Research articles 2005-06-20
- Moody S Assigns Mig 1 Rating To Los Angeles County's Trans Based Upon A Letter Of Credit From Six Banks
- NEW YORK--BUSINESS WIRE--June 22, 1995--Today Moody's Investors Service assigned a MIG 1 to $1.3 billion Los Angeles County Tax and Revenue Anticipation Notes dated July 3, 1995.The notes are secured by an irrevocable letter of credit provided by Credit Suisse as Agent Bank, Morgan Guaranty Trust Company of New York,...
- Research articles 1995-06-22
- Dynegy to Launch New $1.25 Billion Revolving and Term Letter of Credit Facility
- HOUSTON -- Dynegy Inc. (NYSE:DYN) today announced that its indirect wholly-owned subsidiary, Dynegy Holdings Inc. DHI, will launch on Friday, March 2 a new senior secured credit facility that proposes to amend and restate its current senior secured credit facility. Dynegy proposes to increase the revolving credit component of the...
- Research articles 2007-03-01
- A Comparative Analysis Of The Standard Of Fraud Required Under The Fraud Rule In Letter Of Credit Law
- This article explores the kind of fraud required to invoke the fraud rule or, in other words, what does fraud mean under the fraud rule in the law governing letters of credit? This is a challenging question because fraud is an "inherently pliable concept." Some argue that the fraud rule...
- White papers 2003-01-01
- EMERSON RADIO CORP. ANNOUNCES SUBSTANTIAL INCREASE IN EXISTING CREDIT FACILITY; - Hang Seng Bank Letter of Credit Line Increased from $50 Million to $100 Million -
- PARSIPPANY, N.J.--BUSINESS WIRE--Dec. 12, 1994--EMERSON RADIO CORP. (OTC Electronic Bulletin Board Symbol:EMER) today announced that EMERSON RADIO (H.K.) LTD, its Hong Kong subsidiary, has completed agreements increasing one of the subsidiary's credit facilities. Hang Seng Bank of Hong Kong has expanded an existing letter of credit...
- Research articles 1994-12-12
- Trenwick Announces Final Agreement With Lloyd's Letter of Credit Providers
- Business Editors HAMILTON, Bermuda--BUSINESS WIRE--Dec. 24, 2002 Trenwick Group Ltd. ("Trenwick") announced today that it had entered into definitive final agreements with its Lloyd's letter of credit providers with respect to the renewal of $182 million of letters of credit supporting Trenwick's Lloyd's underwriting operations. With additional capital...
- Research articles 2002-12-24
- Letter Of Credit
- This template is for letter of credit.
- Tools & templates
- China Biopharma Receives Export Letter of Credit While Other Companies File Patent Applications, Host Conference Calls, Report Financials, Share Presentations and Enter Into Agreements.
- M2 PRESSWIRE-2 November 2006-Stockguru.com: China Biopharma Receives Export Letter of Credit While Other Companies File Patent Applications, Host Conference Calls, Report Financials, Share Presentations and Enter Into AgreementsC1994-2006 M2 COMMUNICATIONS LTD RDATE:02112006 Dallas, Texas - StockGuru Pre-Market Updates for Thursday...
- Research articles 2006-11-02
- J. Ray McDermott Completes $25 Million Letter-of-Credit Facility, Asset Sale
- HOUSTON -- J. Ray McDermott, S.A. ("J. Ray"), a subsidiary of McDermott International Inc. ("McDermott") (NYSE:MDR), announced today that it has completed a new $25 million letter-of-credit facility. As previously announced, the term of the facility is 36 months with an optional redemption by J. Ray after 18 months,...
- Research articles 2004-08-26
- Bombardier Announces Closing of a 4.3 Billion Euro Syndicated Letter of Credit Facility
- Bombardier (TSX: BBD.A)(TSX: BBD.B) announces today that it has signed a 4.3 billion euro Syndicated Letter of Credit Facility agreement on December 18, 2006 with a group of leading international financial institutions. The facility is set up in Europe for the benefit of Bombardier Inc. and all of its subsidiaries....
- Research articles 2006-12-18
- CRUSH Innovative Sports Systems Inc. receives letter of credit from Monark Sporting Goods Inc
- LOS ALAMITOS, Calif.--BUSINESS WIRE--Oct. 25, 1995--CRUSHtm Innovative Sports Systems Inc. (NASDAQ:BB:PCIED) has received a letter of credit from Monark Sporting Goods Inc. to guarantee payment of their initial order of T-Bonetm Snowboard step-in bindings.CRUSHtm has a three year exclusive distribution and joint boot development agreement with Monark for the T-Bonetm...
- Research articles 1995-10-25
- TMC Agroworld announces $264,000,000 fully funded letter of credit
- MELVILLE, N.Y.--BUSINESS WIRE--Sept. 13, 1996--TMC AGROWORLD a division of Power Phone Inc. (OTC:PWPH) announced today that because of its recently signed contract to deliver two million metric tons of UREA Fertilizer it has received a fully funded letter of credit for $264 million.The company reports that they have confirmed deposit...
- Research articles 1996-09-13
- China Armco Metals Secures $12 Million Letter of Credit to Expand Its Distribution Business
- SAN MATEO, CA, Aug. 10 /PRNewswire-FirstCall/ -- China Armco Metals, Inc. (OTC BB:CNAM.OB - News), a distributor of imported metal ore with plans to launch a new state of the art scrap metal recycling facility in China, today announced the Company received a Back to Back secured...
- Research articles 2009-08-10
- Letters of credit.(Focus: Finance)
- Byline: Samantha Stainburn Global trade requires the right kind of financing. Enter the letter of credit and other financial instruments that can open doors to new markets. The service: A letter of credit is like an insurance policy. Instead of ...
- Research articles 2007-07-16
- Letters of credit in installment sales.
- Use of standby letters of credit won't torpedo installment sales. A corporation sold stock it owned and took back a note from the purchaser. Note was secured by a standby letter of credit that the seller could tap if buyer defaulted. Seller reported the sale on...
- Research articles 2001-02-16
- IRS limits agents' use of constructive receipt with collateralized letters of credit
- IT IS CRUCIAL TO UNDERSTAND WHAT THE IRS MEANS by "standby letter of credit," the type of property securing the letter of credit, and the effect of changes in the underlying security. In two recent instances, IRS field offices attempted to treat a note collateralized by a...
- Research articles 2002-06-01
- Letters of Credit (Outline)
- "The following is a brief summary of a letter of credit transaction in a real estate financing context. It discusses various issues relating to the letter of credit. Some of the aspects are function and purpose, governing laws and rules, major pitfalls in letters of credit, Issuance and...
- White papers 2000-01-01
- Letters Of Credit And Leases
- Landlords traditionally protect themselves under lease agreements by obtaining cash security deposits or obtaining guaranties of the leases. In recent years, landlords have begun to require standby letters of credit as additional protection in lieu of or in addition to security deposits or guaranties. The advantages of letters of credit...
- White papers 2003-07-01
