Letter of credit

Letter of credit - the term comes from French "acreditif". The market economy is available on a company to pay a bank account of existing availability or amount of money to a third party, as provided by the issuer mood. In international trade relations can be used so-called documentary credit. Is how the bank buyer of order buyer must pay the seller directly or through a correspondent bank internediul a certain amount of money, provided that the beneficiary amount to file documents in a specified period required by the buyer.