LC in Trade Meaning
The LC meaning in Trade terms is "Letter of Credit". There are 2 related meanings of the LC Trade abbreviation.
LC on Trade Full Forms
- 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.
- Limited Company Limited Company is a legal entity that is owned by shareholders. Read more on Corporation Types.
Frequently Asked Questions (FAQ)
What does LC stand for Trade?
LC stands for Letter of Credit in Trade terms.
What is the shortened form of Limited Company in Trade?
The short form of "Limited Company" is LC for Trade.
Citation
LC in Trade. Acronym24.com. (2022, March 26). Retrieved December 23, 2024 from https://acronym24.com/lc-meaning-in-trade/
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