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LC in Banking Meaning

The LC meaning in Banking terms is "Letter of Credit". There are 11 related meanings of the LC Banking abbreviation.

LC on Banking Full Forms

  1. Letter of Credit A financial document issued by a bank at the request of the consignee guaranteeing payment to the shipper for cargo, if certain terms and conditions are fulfilled, usually the receipt by the bank of certain documents within a given time. Normally it contains a brief description of the goods, documents required, a shipping date, and an expiration date after which payment will no longer be made. An Irrevocable Letter of Credit is one which obligates the issuing bank to pay the exporter when all terms and conditions of the letter of credit have been met. None of the terms and conditions may be changed without the consent of all parties to the letter of credit.
  2. Lines of Credit
  3. Leised Contract
  4. Local Currency
  5. Limited Company Limited Company is a legal entity that is owned by shareholders. Read more on Corporation Types.
  6. Loan Compaiy
  7. Loan Companies
  8. Liquidity Coverage
  9. Letters of Credit
  10. Letter of Credits
  11. Leased Contract

Frequently Asked Questions (FAQ)

  1. What does LC stand for Banking?

    LC stands for Letter of Credit in Banking terms.

  2. What is the shortened form of Letter of Credit in Banking?

    The short form of "Letter of Credit" is LC for Banking.

Citation

LC in Banking. Acronym24.com. (2022, March 26). Retrieved May 3, 2024 from https://acronym24.com/lc-meaning-in-banking/

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