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unconfirmed letter of credit
A letter of credit which has not been guaranteed or confirmed by any bank other than the bank that opened it. The advising bank merely informs the beneficiary of the letter of credit terms and conditions.
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- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Financial services
- Category: General Finance
- Company: Bloomberg
- Product:
- Acronym-Abbreviation:
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