What do a.m. and p.m. stand for?

letter of credit

an order issued by a banker allowing a person named to draw money to a specified amount from correspondents of the issuer.
an instrument issued by a banker authorizing a person named to make drafts upon the issuer up to an amount specified.
Origin of letter of credit
1635-45 Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2015.
Cite This Source
Examples from the web for letter of credit
  • Showing that if a good face is a letter of recommendation, a good heart is a letter of credit.
  • We issued a letter of credit as a guarantee for the entire bond issuance.
British Dictionary definitions for letter of credit

letter of credit

a letter issued by a bank entitling the bearer to draw funds up to a specified maximum from that bank or its agencies
a letter addressed by a bank instructing the addressee to allow the person named to draw a specified sum on the credit of the addressor bank
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
Cite This Source

Word of the Day

Difficulty index for letter of credit

Few English speakers likely know this word

Word Value for letter

Scrabble Words With Friends