Financial Dictionary

This dictionary contains:
24549
financial terms

Letter of Credit (LOC)



Letter of Credit (LOC)

A paper issued by a buyer's bank as proof that the seller will be paid.

RELATED TERMS
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Paper
Money market instruments, commercial paper, and other.

Bank
A commercial institution licensed as a receiver of deposits. Banks are mainly concerned with making and receiving payments as well as supplying short-term loans to individuals.

Will
The written expression of a person's wishes as to how his property should be distributed by his executors.



SIMILAR TERMS
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Letter of Administration
A certificate issued by the Court evidencing the appointment of the Administrator of an Estate.

Letter of Comment
A communication to the firm from the SEC that suggests changes to its registration statement.

Letter of Guarantee
A letter from a bank to a brokerage firm which states that a customer (who has written a call option) does indeed own the underlying stock and the bank will guarantee delivery if the call is assigned.

Letter of Intent
An assurance by a mutual fund shareholder that a certain amount of money will be invested monthly, in exchange for lower sales charges.

Letter of Renunciation
In a rights issue of shares, a letter of renunciation is the form attached to an allotment letter which the holder completes should he wish to transfer entitlement to another person or to renounce his rights absolutely.

Letter of Testamentary
A certificate issued by the court evidencing the appointment of an executor of estate.

Letter of Transmittal
A document used by security holder to accompany certificates surrendered in an exchange or other corporate action.

Letter stock
Privately placed common stock, so-called because the SEC requires a letter from the purchase stating that the stock is not intended for resale.



PREVIOUS AND NEXT TERMS
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Less than container load
Shipments of less than container load size.

Lessee
A person to whom a lease is granted, known as a tenant.

Lessor
A person who grants a lease, known as a landlord.

Letter of Administration
A certificate issued by the Court evidencing the appointment of the Administrator of an Estate.

Letter of Comment
A communication to the firm from the SEC that suggests changes to its registration statement.

Letter of Credit (LOC)

Letter of Guarantee
A letter from a bank to a brokerage firm which states that a customer (who has written a call option) does indeed own the underlying stock and the bank will guarantee delivery if the call is assigned.

Letter of Intent
An assurance by a mutual fund shareholder that a certain amount of money will be invested monthly, in exchange for lower sales charges.

Letter of Renunciation
In a rights issue of shares, a letter of renunciation is the form attached to an allotment letter which the holder completes should he wish to transfer entitlement to another person or to renounce his rights absolutely.

Letter of Testamentary
A certificate issued by the court evidencing the appointment of an executor of estate.

Letter of Transmittal
A document used by security holder to accompany certificates surrendered in an exchange or other corporate action.

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This dictionary contains 24549 terms.


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