What is "letters of credit"

Usage examples of "letters of credit".

And then if they faxed somethingthe letters of credit or contractsthey would be in there.

A bank (or bane) was a table, behind which sat a moneylender prepared to give gold (or, as the system became more sophisticated, letters of credit) in exchange for mortgages or documents that promised repayment with interest.

I will negotiate my own ransom with Kennit, issue him letters of credit and insist that he provide me passage back to Jamaillia.

They absolutely do not issue notes for silver they don't have, and their letters of credit are watertight.

Travelers checks, letters of credit, drafts for transferring monies, even bearer bonds - But cash?

The purser again wished to notify passengers that shipboard indebtedness such as bar and shop bills could be settled only in dollars, Danish crowns, or by means of validated letters of credit.