Business, Legal & Accounting Glossary
A letter of credit used in exporting that includes a clause allowing the exporter to draw down on a portion of the sale proceeds prior to shipment in order to cover the part of the cost associated with the production and delivery of goods. The clause is set apart from the body of the document by its red ink.
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This glossary post was last updated: 16th November, 2021 | 0 Views.