Definition of mechanical: Camera-ready, final layout of all elements of a work to be reproduced through a commercial printing process. It is a pasteup of the typeset text and images on a sheet of paperboard, usually with a ...
Standby Letter of Credit. A statement issued by a bank to the buyer of a good stating that the seller will receive payment on time and in the correct amount. If the buyer fails to make payment, the bank will do so on his/her behalf.
Here are all the possible meanings and translations of the word letter of credit. Princeton's WordNet(0.00 / 0 votes)Rate this definition: letter of credit(noun) a document issued by a bank that guarantees the payment of a customer's draft; substitutes the bank's credit for the customer's credit.