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Letter of credit (LOC) |
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Letter of credit (LOC)A form of guarantee of payment issued by a bank on behalf of a borrower that assures the payment of interest and repayment of principal on bond issues.Letter of credit (LOC) Similar MatchesTime Letter of CreditTime Letter of CreditSee: Usance Letter of Credit. Pre approval letterPre approval letterA letter from a lender that informs a seller about the amount of money that a potential buyer can obtain. Memorandum of wishes (letter of wishes)Memorandum of wishes (letter of wishes)A memorandum or letter addressed to the executors of a will by the testator (feminine testatrix), that is, the maker of the will, specifying additional wishes to be carried out. For example a woman may leave her jewellery to her executor with a letter of wishes requesting that they pass certain items to named individuals. Letter of GuaranteeLetter of GuaranteeA 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. Thus the call can be considered covered. Not all brokerage firms accept letters of guarantee. Also: letter issued to Option Clearing Corporation by member firms covering a guarantee of any trades made by one of its customers, (a trader or broker on the exchange floor). Letter of renunciationLetter of renunciationIn 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. Further Suggestionsletters of administrationTransmittal letter Letter of intent letter of wishes Unconfirmed Letter of Credit Advisory letter Usance Letter of Credit Letter of comment Commercial letters of credit Deficiency letter Bank Letter of Credit Policy Transferable letter of credit No action letter Sight Letter of Credit Revocable letter of credit Confirmed Letter of Credit Market letter Private letter ruling Letter of Administration allotment notice/letter Letter stock Letter of Testamentary Letter of Transmittal Shareholders letter Standby letter of credit |
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