bill of credit

Definition of "bill of credit"
  1. 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
How to use "bill of credit" in a sentence
  1. The bank issued a bill of credit to enable the businessman to finance his new venture within certain monetary limits.
  2. A bill of credit was presented to the supplier, ensuring them that payments up to a certain amount will be honored by the bank.
  3. In order to secure his international transactions, the trader obtained a bill of credit from his local bank.

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