Acceptance letter of credit (L/C)
Elijah King
Updated on July 18, 2026
Acceptance letter of credit (L/C),
Definition of Acceptance letter of credit (L/C):
Unlike a normal L/C, this type of documentary credit does not promise to pay the beneficiary immediately upon presentation of the customary documents, but has the additional requirement of a time or term draft drawn on a named bank.
Meaning of Acceptance letter of credit (L/C) & Acceptance letter of credit (L/C) Definition
