L/C Application definition: Copy, customize, and use instantly
Introduction
The term "L/C Application" refers to the application process used to request a letter of credit (L/C), a financial document that guarantees payment to a seller by a bank. The application is essential for trade transactions, providing security to both the buyer and the seller. It clarifies the terms, conditions, and obligations involved in issuing the letter of credit.
Below are various examples of how "L/C Application" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "L/C Application" as Letter of Credit Request
This definition ties "L/C Application" to the process of requesting a letter of credit.
"L/C Application" means the formal request submitted by a buyer to a bank, seeking the issuance of a letter of credit to secure payment for a specific transaction.
Definition of "L/C Application" as Application for Credit Facility
This definition connects "L/C Application" to the broader context of requesting credit facilities.
"L/C Application" refers to the document submitted by a buyer to a financial institution to apply for a letter of credit, facilitating the terms of payment for an international trade agreement.
Definition of "L/C Application" as Bank’s Role in Credit Issuance
This definition links "L/C Application" to the bank’s role in the letter of credit issuance process.
"L/C Application" means the official request made by a buyer or applicant to a bank to issue a letter of credit, ensuring that the seller receives payment according to the agreed-upon terms.
Definition of "L/C Application" as Transaction Guarantee Request
This definition applies "L/C Application" to the context of transaction guarantees.
"L/C Application" refers to the application by a buyer to a bank requesting the issuance of a letter of credit to guarantee payment for a transaction, ensuring the seller’s performance.
Definition of "L/C Application" as Credit Confirmation Request
This definition ties "L/C Application" to the request for credit confirmation.
"L/C Application" means the formal request made by a party to a financial institution to establish a credit line through the issuance of a letter of credit, confirming the buyer’s ability to pay.
Definition of "L/C Application" as Trade Payment Security
This definition connects "L/C Application" to trade security measures.
"L/C Application" refers to the process of applying for a letter of credit from a bank, used to secure payment in trade transactions between the buyer and the seller.
Definition of "L/C Application" as Document Submission for Letter of Credit
This definition links "L/C Application" to the submission of documents for the letter of credit.
"L/C Application" means the documents or forms submitted by a buyer or applicant to a bank requesting the issuance of a letter of credit to guarantee payment for a transaction.
Definition of "L/C Application" as Financial Institution Request
This definition ties "L/C Application" to the financial institution request process.
"L/C Application" refers to the request submitted by a buyer or applicant to a financial institution to initiate the process of issuing a letter of credit, securing payment for goods or services.
Definition of "L/C Application" as Buyer’s Financial Request
This definition applies "L/C Application" to a buyer’s financial request.
"L/C Application" refers to the formal request submitted by the buyer to a bank, seeking the issuance of a letter of credit to ensure that payment is made under agreed terms for a transaction.
Definition of "L/C Application" as Risk Mitigation in Trade
This definition connects "L/C Application" to mitigating risks in international trade.
"L/C Application" means the application submitted by a buyer to a bank requesting the issuance of a letter of credit, providing security and mitigating risk in international trade transactions.
Definition of "L/C Application" as Contractual Payment Guarantee
This definition ties "L/C Application" to contractual payment guarantees.
"L/C Application" refers to the application submitted by a buyer to a bank, requesting a letter of credit that guarantees payment for goods or services under a contract.
Definition of "L/C Application" as Credit Facility Agreement
This definition links "L/C Application" to an agreement involving a credit facility.
"L/C Application" means the request submitted by an applicant to a bank for a letter of credit, which serves as a credit facility ensuring payment for trade transactions.
Definition of "L/C Application" as Credit Arrangement Request
This definition connects "L/C Application" to a credit arrangement process.
"L/C Application" refers to the formal request made by a buyer to a financial institution to issue a letter of credit, arranging credit for payment for goods or services.
Definition of "L/C Application" as Bank’s Authorization Request
This definition links "L/C Application" to a bank’s authorization for credit issuance.
"L/C Application" refers to the formal request made to a bank for authorization to issue a letter of credit, which guarantees payment for an international trade transaction.
Definition of "L/C Application" as Trade Financing Request
This definition applies "L/C Application" to trade financing requests.
"L/C Application" means the request made by a buyer to a bank for the issuance of a letter of credit, used as a tool for trade financing to secure payment for goods or services.
Definition of "L/C Application" as Letter of Credit Process Initiation
This definition connects "L/C Application" to initiating the letter of credit process.
"L/C Application" refers to the process initiated by a buyer, involving the submission of a request to a bank to issue a letter of credit in favor of a seller.
Definition of "L/C Application" as Payment Assurance Request
This definition ties "L/C Application" to a request for payment assurance.
"L/C Application" means the request submitted by a buyer to a financial institution for a letter of credit, which assures the seller that payment will be made as agreed in the trade agreement.
Definition of "L/C Application" as Buyer-Seller Payment Guarantee
This definition applies "L/C Application" to the payment guarantee between buyer and seller.
"L/C Application" refers to the formal application by a buyer to a bank requesting the issuance of a letter of credit, ensuring payment to the seller under specific terms.
Definition of "L/C Application" as Bank-Required Request for Trade
This definition connects "L/C Application" to trade transactions that require bank approval.
"L/C Application" means the request made by a buyer to a bank to issue a letter of credit, which is a requirement for completing a trade transaction.
Definition of "L/C Application" as Payment Security Process
This definition links "L/C Application" to the payment security process.
"L/C Application" refers to the process of submitting a formal application to a bank to issue a letter of credit, ensuring that payment for goods or services is secured.
Definition of "L/C Application" as Financial Transaction Guarantee
This definition ties "L/C Application" to the guarantee of financial transactions.
"L/C Application" refers to the application made by a buyer to a financial institution for the issuance of a letter of credit, which guarantees payment in a financial transaction.
Definition of "L/C Application" as Trade Risk Reduction
This definition connects "L/C Application" to reducing trade risk.
"L/C Application" means the request submitted by a buyer to a bank, seeking a letter of credit that reduces the financial risks associated with international trade transactions.
Definition of "L/C Application" as Payment Assurance for Exporter
This definition links "L/C Application" to providing payment assurance to the exporter.
"L/C Application" refers to the formal request submitted by an importer or buyer to a bank, requesting a letter of credit to guarantee payment to the exporter.
Definition of "L/C Application" as Trade Transaction Credit Request
This definition connects "L/C Application" to a credit request for trade transactions.
"L/C Application" means the formal request made by a buyer to a bank, seeking a letter of credit to facilitate credit for an international trade transaction.
Definition of "L/C Application" as Financial Instrument Request
This definition applies "L/C Application" to requesting a financial instrument.
"L/C Application" refers to the application made by a buyer to a financial institution to obtain a letter of credit, a financial instrument ensuring payment to the seller.
Definition of "L/C Application" as Risk-Free Payment Guarantee
This definition ties "L/C Application" to a risk-free payment guarantee.
"L/C Application" means the request made by a buyer to a bank for a letter of credit, which guarantees secure, risk-free payment for goods or services.
Definition of "L/C Application" as Secure Payment Instrument
This definition connects "L/C Application" to a secure payment instrument.
"L/C Application" refers to the process in which a buyer applies for a letter of credit, a secure payment instrument, to guarantee the seller’s payment for goods or services.
Definition of "L/C Application" as Bank-Initiated Credit Guarantee
This definition links "L/C Application" to a bank-initiated credit guarantee.
"L/C Application" refers to the formal application made by a buyer to a bank to issue a letter of credit, acting as a credit guarantee for the transaction between the buyer and seller.
Definition of "L/C Application" as Payment Assurance for Buyer
This definition applies "L/C Application" to providing payment assurance to the buyer.
"L/C Application" means the request by the buyer to a financial institution to issue a letter of credit, ensuring that the seller will be paid as per the terms of the transaction.
Definition of "L/C Application" as Payment Assurance for Seller
This definition connects "L/C Application" to ensuring payment assurance for the seller.
"L/C Application" refers to the request made by a buyer to a bank for the issuance of a letter of credit, ensuring the seller receives payment for the goods or services as per the agreed terms.
Definition of "L/C Application" as Bank Approval for Trade Transaction
This definition links "L/C Application" to bank approval for facilitating a trade transaction.
"L/C Application" means the formal request made by a buyer to a financial institution, seeking approval for the issuance of a letter of credit to facilitate the completion of an international trade transaction.
Definition of "L/C Application" as Trade Credit Security
This definition ties "L/C Application" to securing trade credit.
"L/C Application" refers to the request made by a buyer to a bank for the issuance of a letter of credit, which serves as a form of security for trade credit in international business transactions.
Definition of "L/C Application" as Payment Commitment Request
This definition connects "L/C Application" to a request for payment commitment.
"L/C Application" means the formal application submitted by a buyer to a bank, requesting the issuance of a letter of credit to guarantee the seller’s payment commitment under the terms of the trade agreement.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.