DOCUMENTARY CREDIT

By SovConn | July 23, 2014

documentary credit. 1. Credit extended on a document of title or any other legal document. 2.
A financing arrangement in which a financial institution authorizes or makes a payment to a third
party (usu. an exporter) at a customer’s request. • This financing method facilitates international
transactions by providing the importer with necessary credit and the exporter with an expedited
cash payment. [Blacks Law 8th]

Posted in Law Dictionary Definitions