Back-To-Back Letters Of Credit

Business, Legal & Accounting Glossary

Definition: Back-To-Back Letters Of Credit


Back-To-Back Letters Of Credit


Full Definition of Back-To-Back Letters Of Credit


Two letters of credit used together to allow a seller to finance purchases from a subcontractor. The first letter of credit is obtained from a bank by the buyer. With that in place, the seller obtains a second letter of credit to purchase equipment or services from a subcontractor.


Cite Term


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Page URL
https://payrollheaven.com/define/back-to-back-letters-of-credit/
Modern Language Association (MLA):
Back-To-Back Letters Of Credit. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
December 07, 2021 https://payrollheaven.com/define/back-to-back-letters-of-credit/.
Chicago Manual of Style (CMS):
Back-To-Back Letters Of Credit. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/back-to-back-letters-of-credit/ (accessed: December 07, 2021).
American Psychological Association (APA):
Back-To-Back Letters Of Credit. PayrollHeaven.com. Retrieved December 07, 2021
, from PayrollHeaven.com website: https://payrollheaven.com/define/back-to-back-letters-of-credit/

Definition Sources


Definitions for Back-To-Back Letters Of Credit are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 19th November, 2021 | 0 Views.