Documentary credit

05.07.2013 18:40

Documentary credit

1) The most secure form of payment for exported goods if confirmed by a UK bank. Once the requisite documents are presented within the period of their validity (ie of the period of credit) the bank will honour the payment irrespective of any default by the payer or other problem (eg political upheaval in country of destination).

Source: David Lowe. The Dictionary of Transport and Logistics. Kogan Page, 2002. – P.69 (288 p.)




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