issuing bank
- A bank that creates a letter of credit and agrees to pay the bank or beneficiary if the submitted documents comply with the letter of credit's conditions
- The issuing bank is responsible for honoring the letter of credit when the buyer fails to fulfill payment obligations.
- The construction company provided the assigned paperwork to the issuing bank to receive payment.
- The seller relied on the issuing bank to ensure they would receive payment for the shipped goods.
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