Letter of Credit
Letter of credit is a financial document issued by a bank guaranteeing payment to a seller, provided certain conditions are met. Common in international trade, it protects both buyer and seller by ensuring that funds will be released once shipment or delivery terms are fulfilled.
More Items
Lump-Sum Purchase
A single payment made to buy multiple assets in one transaction, such as buying land and a building together. The…
Long-Term Debt
Financial obligations due more than one year from the reporting date. It includes bonds, bank loans, or lease obligations. Long-term…
Liquidation
The process of closing a business and distributing its assets to creditors and owners. Assets are sold to pay off…
This website uses cookies to improve your experience. You can accept all or reject non-essential cookies.