See Letter of Credit.

A letter of credit that calls for the presentation of specified documents, issued to effect payment during a business transaction. It usually provides exporters with an independent bank promise of pay [..]

Documentary credit is a credit extended on a document of title or any other legal document by a financial institution. It also refers to the pecuniary arrangement in which a financial institution appr [..]

The officially correct term for Letter of Credit. The UCP500 only mentions "Documentary Credit" not "Letter of Credit". See also Letter of Credit and UCP500).

A commercial letter of credit authorising the bank to pay a designated beneficiary (typically the seller/exporter of goods) against presentation of the documents specified in the Letter of credit.

an international payment technique consisting in obtaining payment by the purchaser’s bank (or by one’s own bank, if it is confirmed) rather than by one’s customer. It therefore amounts to an excellent guarantee, at the cost of a certain administrative complexity.

The basis of international trade by means of which payment is made against surrender of specified documents.

Written undertaking by a bank on behalf of an importer authorizing an exporter to draw drafts on the bank up to a specified amount under specific terms and conditions. Some time know as commercial let [..]

Written undertaking by a bank on behalf of an importer author izing an exporter to draw drafts on the bank up to a specified amount under specific terms and conditions. They are used to facilitate international trade. Also called Letters of credit(LC).

Many types of documents used between buyers and sellers and their respective banks to support payment and transfer title for goods shipped. May be in the form of letters of credit (LOC or L/C), bank guarantees, or forwarder cargo receipts (FCR).