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L / C (LETTER OF CREDIT) L /C is an undertaking given by a Bank on behalf of its customer to pay a certain sum of money to a certain person ( Beneficiary ) on the fulfillment of certain terms and conditions as laid down in the letter of credit.

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bank, money, banking, credit, central, terms, pay, banker, letter, islamic, bd, customer, certain, beneficiary, insurance, person, world, retail, given, undertaking

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Updated:

03 Apr 2013

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