TeachMeFinance.com - explain Bill of Credit
bill of credit -- the written request of an individual to his or her depository institution asking it to deliver money to the bearer of the request, with the money drawn from the individual's deposit account, or advanced on the individual's credit.
Bill of Credit -- A written authority from one person to another, empowering the recipient of the document to receive money from the correspondents of the issuer abroad . (The usual issuer is a bank)
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