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LOC in Business & Finance Meaning

The LOC meaning in Business & Finance terms is "Letter of Credit". There are 7 related meanings of the LOC Business & Finance abbreviation.

LOC on Business & Finance 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. Local
  3. Letter of Concern
  4. Line of Credit Generally an informal understanding between the borrower and the bank as to the maximum amount of credit that the bank will provide the borrower at any one time.
  5. Locate To find the position of Survival beacons transmit a signal which enables search air-craft/vessels to rapidly locate accident survivors still in the sea. The digital flight data recorder is located in the tail section.
  6. Local Optical Committee
  7. Letter of Comment

Frequently Asked Questions (FAQ)

  1. What does LOC stand for Business & Finance?

    LOC stands for Letter of Comment in Business & Finance terms.

  2. What is the shortened form of Local in Business & Finance?

    The short form of "Local" is LOC for Business & Finance.

Citation

LOC in Business & Finance. Acronym24.com. (2021, December 15). Retrieved November 22, 2024 from https://acronym24.com/loc-meaning-in-business-finance/

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