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.
A letter of credit is typically an arrangement between three parties: the issuer of the letter of credit, the payor and the beneficiary. As a type of advanced agreement for financing, a letter of credit enables a seller to determine the actual amount of money that will be received from the issuer of the letter of credit.