Home > Term: Letter of credit (LOC)
Letter of credit (LOC)
A form of guarantee of payment issued by a bank on behalf of a borrower that assures the payment of interest and repayment of principal on bond issues.
- Part of Speech: noun
- Industry/Domain: Financial services
- Category: General Finance
- Company: Bloomberg
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Creator
- Jessehe
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(V.I.P) 32013 points - 40.13% positive feedback
