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.
These letters tend to help eliminate risk to the seller in that they will be paid for their item in one manner or another, either from the buyer or from the bank that has issued the letter of credit. â You may want to ask for a standby letter of credit if you are doing business with someone that you do not know well.