what is the meaning of lc in banking
Letter of credit In modern business practice, a letter of credit (LC) also known as a Documentary Credit, is a written commitment by a bank issued after a request by an importer (foreign buyer) that payment will be made to the beneficiary (exporter) provided that the terms and conditions stated in the LC been met, as evidenced by the presentation of specified documents.[1]
Shekhinah This term does not occur in the Bible, and is from rabbinic literature.[2]:148[3][4]
Matthew 7:7–8 The common English expression "Seek and Ye Shall Find" is derived from this verse.
Advanced measurement approach Also, according to section 664 of original Basel Accord, in order to qualify for use of the AMA a bank must satisfy its supervisor that, at a minimum: