A letter of credit is a letter from a bank guaranteeing that a buyer’s payment will be received on time and for the correct amount. Here’s how letters of credit work.

Commercial letters of credit are often used to make payments in transactions for the sale of goods and services and allow each party to ascertain that the other is meeting its obligations under ...

A letter of credit is vital for anyone involved in international business. Find out how this simple instrument can make all the difference inside. S&P 500 +---% | Stock ...