Transferable letter of credit

Definition:

Document that allows the first beneficiary on a standby bank assurance of funds to transfer all or part of the original letter of credit to a third party.

Investing Essentials


Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Noninsured plans

Defined benefit pension plans that are not guaranteed by life insurance products. Related: Insured plans.

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