Meaning of “documentary credit” in the English Dictionary


"documentary credit" in Business English

See all translations

documentary creditnoun [ C or U ]

uk us 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

(Definition of “documentary credit” from the Cambridge Business English Dictionary © Cambridge University Press)