documentary credit - definition in the Business English Dictionary - Cambridge Dictionaries Online

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English definition of “documentary credit”

documentary credit

noun [C or U]
 
 
( abbreviation DC, also documentary letter of credit) COMMERCE
in international trade, an arrangement in which a bank in a country importing goods agrees to pay for goods being exported when it receives documents showing that the goods have been sent →  Compare documentary collection
(Definition of documentary credit from the Cambridge Business English Dictionary © Cambridge University Press)
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