13 Example Sentences Showcasing the Meaning of 'Letter Of Credit'
The international trade agreement was secured with a letter of credit to ensure timely payment between the two companies.
The company requested a letter of credit from the bank to facilitate the smooth transaction of goods with their overseas supplier.
As part of the trade agreement, the buyer arranged for a letter of credit to assure the seller of prompt and secure payment.
In the world of finance, a letter of credit acts as a safeguard, minimizing the risks associated with cross-border transactions.
The shipping company insisted on a letter of credit before transporting the valuable cargo to ensure the security of the transaction.
The art dealer required a letter of credit before releasing the valuable painting to the buyer, guaranteeing the authenticity of the transaction.
The philanthropic foundation used a letter of credit to ensure the smooth transfer of funds for the educational scholarship program.
The insurance company required clients to submit a letter of credit as collateral for large-scale policies, mitigating financial risks.
The agricultural cooperative utilized a letter of credit to facilitate the purchase of equipment and ensure timely payments to farmers.
The pharmaceutical company insisted on a letter of credit to establish trust and guarantee the payment for the bulk purchase of raw materials.
The university's international student exchange program required participants to submit a letter of credit to cover tuition fees and living expenses.
The luxury fashion brand insisted on a letter of credit before shipping its products to overseas retailers, ensuring prompt and secure payments.
The maritime shipping company required a letter of credit to guarantee payment for the transportation of goods across international waters.