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.
deferred payment letter of credit (L/C). A letter of credit that is paid a fixed number of days after shipment or presentation of prescribed documents.It is used where a buyer and a seller have a close working relationship because, in effect, the seller is financing the purchase by allowing the buyer a grace period for payment.eferred payment letter of credit (L/C). A letter of credit that is paid a fixed number of days after shipment or presentation of prescribed documents.