documentary credit Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “documentary credit” in the English Dictionary

"documentary credit" in Business English

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documentary creditnoun [C or U]

uk   us   ( abbreviation DC, also documentary letter of credit) COMMERCE
in ​internationaltrade, an ​arrangement in which a ​bank in a country ​importinggoodsagrees 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)
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