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LOC in Electrical Meaning

The LOC meaning in Electrical terms is "Letter of Credit". There are 1 related meanings of the LOC Electrical abbreviation.

LOC on Electrical 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.

Frequently Asked Questions (FAQ)

  1. What does LOC stand for Electrical?

    LOC stands for Letter of Credit in Electrical terms.

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

    The short form of "Letter of Credit" is LOC for Electrical.

Citation

LOC in Electrical. Acronym24.com. (2021, December 15). Retrieved April 19, 2024 from https://acronym24.com/loc-meaning-in-electrical/

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