Confidence level is a degree of confidence expressed as percents like 90%, 95% and 99% prior assigned to the data before the confidence interval is calculated.
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 ...
Protection for Payments. A letter of credit is a document from a bank that guarantees payment. While there are several types of letters of credit, they are often used when buying and selling: if a buyer fails to pay a seller, the bank that issued a letter of credit will pay the seller (assuming all requirements are met). Letters of credit can also protect buyers.