bill of credit
- A written document from a bank, confirming that a specific individual has the right to withdraw or utilize the bank's resources up to a specified limit
- The bank issued a bill of credit to enable the businessman to finance his new venture within certain monetary limits.
- A bill of credit was presented to the supplier, ensuring them that payments up to a certain amount will be honored by the bank.
- In order to secure his international transactions, the trader obtained a bill of credit from his local bank.
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